In this post, we delve into the real estate trends of Shadow Hills for February 2024. These 30-day statistics provide valuable insights for buyers, sellers, and homeowners alike, helping to make informed decisions in this dynamic market.
Current Market Statistics
- Median Listing Price: $1,260,000
- This is the central figure in the range of property prices, indicating a balance between higher and lower-priced listings.
- Properties on Sale: 10
- Total number of properties currently available for purchase in Shadow Hills.
- Properties Sold in Last 30 Days: 4
- Reflects recent sales activity and turnover in the real estate market.
- Median Sold Price: $910,000
- This is lower than the listing price, potentially indicating a gap between seller expectations and market realities.
- Average Market Time: $1,299,000
- This is likely an error in the provided content as it seems to be a price figure rather than a time frame. Assuming it’s meant to be an average time, a lower number suggests a faster-moving market.
- Active Price per Square Foot: $667
- An important metric for comparing properties of different sizes, offering a quick gauge for investment amount based on property size.
Understanding the Value for Different Market Players
In real estate, knowledge is power. For buyers, understanding these statistics helps in gauging the market conditions, aiding in making informed offers that align with market trends. Sellers, on the other hand, can use this data to price their properties competitively, ensuring a balance between attractiveness to buyers and maximizing returns. Homeowners, even if not currently in the market to buy or sell, can benefit from understanding the value trends of their properties, aiding in decisions related to refinancing or home equity.
Statistics like the median listing and sold prices offer insights into market dynamics, such as whether it’s a buyer’s or seller’s market. The discrepancy between listing and selling prices can be a crucial indicator for pricing strategies. The average time on the market provides an overview of market demand and property liquidity.
Understanding these trends not only empowers stakeholders in making strategic decisions but also in anticipating future market movements. Whether planning to invest, divest, or maintain, being informed about the local real estate landscape is invaluable.
With over 35 years in the business, I, Robbyn Battles of JohnHart Real Estate, offer an unmatched depth of knowledge and understanding of this unique market. Whether buying, selling, or just exploring your options, I’m here to provide you with tailored, strategic advice and guidance. Feel free to reach out to me at 818-388-1631 or robbyn@thehouseagent.com. Let’s leverage these market insights to achieve your real estate goals together.
Interested in buying a home in Shadow Hills? Check out the latest homes for sale in Shadow Hills.
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