Sherman Oaks Real Estate Market Trends – December 2011

by Mario Acosta on December 2, 2011

in First-Time Home Buyers, How Much Is My Home Worth?, How's The Market, Local Topics, Market Trends, Sherman Oaks

Sherman Oaks Real Estate Sales Price and Inventory Trends

Sales Price and Homes Inventory have been moving in lock step for most the year in Sherman Oaks.  Prices have risen 7.5% on average since March 2011 in the Sherman Oaks 91423 zipcode.

Interestingly, home inventory also rose 6% during the same period in the same Sherman Oaks zipcode.  This seems counter-intuitive.   More homes on the market should mean lower prices , right?  It appears the anemic inventory trends and lack of good homes, together with attractive financing rates, have out weighted this general rule of thumb.

Will this trend repeat in 2012?  In most years, real estate inventory in Sherman Oaks increases after the Holidays.  Will prices dip with the increase in home inventory or continue to rise?  We are starting to see in the last 30 days a hint of a more normal price/inventory trend in Sherman Oaks homes.  Stay tuned!

 

 

 

 

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