From an outside perspective, the housing market seems to change faster than people change clothes. In truth, market trends are easy to understand and much more stable than you might think. For Simi Valley sellers and landlords, or property investors looking for luxurious homes, these trends will help you make informed decisions about your pricing and property value.
Larger Homes Dominate
Even with expansive condos and beautiful apartment communities, single-family homes still dominate the Simi Valley housing market. Homes between two and four bedrooms make up over 80% of properties in Simi Valley and see regular year-over-year median price growth. Because of this, multi-bedroom homes do better on the market and bring higher listing and selling prices. For homes with fewer bedrooms, there should be other significant selling points that create an even price with Simi Valley’s median.
Median Price Range
Speaking of median prices, Simi Valley is seeing a slow but constant rise in both buying and renting costs. The median price for homes in Simi Valley averages out directly in the middle of home prices in California. As a fairly small city nestled in the heart of Southern California, this is great for buyers. There are plenty of amazing luxuries and experiences in the area, and for the price Simi Valley homes are unbeatable.
Buyers Prefer Remodeled Over Fixer-Upper
The age of the fixer-upper is coming to a close, as buyers and renters moving to the Ventura County area expect a luxury living space that’s remodeled and modern. In Simi Valley, fixer-upper homes tend to rent and sell at the lower side of the median value, where remodeled bathrooms and kitchens can add plenty of value to the property. Even better are homes that have been built within the last 20 years that need little-to-no remodeling and aren’t in the category of “fixer-upper”.
Simi Valley is Perfect for Investments
Make no mistake about it, rising property prices aren’t deterring people from moving to Ventura County. In fact, Simi Valley properties have become a coveted investment. With beautiful, modern homes in a stable housing market, property value in the area is steadily increasing. The most populous state in the US is seeing an increase in population as people move to the heart of tech, science, and entertainment for work. Buying a property in Simi Valley now is a sure investment in the future.
Ventura County’s Best Realtor
Buying and selling homes in Ventura County is as rewarding as it is complicated. To make the housing market trends work for you, contact Lefton Realty Group. We help you get the best price for your Simi Valley home, regardless of if you’re buying or selling, and we keep an eye on the market trends so you can rest easy with your property plans.