Happy 2017! We hope you had a memorable holiday season and festive New Year. January is finally here and we are back to reality - and real estate! 2016 has come to a close, and for us it was one of our busiest years ever. Record sales were accompanied by charitable endeavors and meaningful community partnerships. To start off the year, let’s take a look back at the local market’s performance and project what may be in the works for real estate in the Conejo Valley area.
The local real estate market in 2016 chugged along at a good pace. Prices continued to rise, posting a gain of roughly 3% for the year across the price spectrum. Sales volume was down about 2% from the year before, largely due to a decrease in inventory in the area. We are currently seeing roughly two months’ worth of property available, a trend that is likely to continue. High demand continues to be the strongest variable shaping the real estate market in our local area. If you are looking for the best time to buy or sell, that time is now. Of course, if you are looking for a team with the experience and discipline to get you what you want, in the time you want, call us today.
The new year brings both opportunities and challenges for people looking to sell properties in 2017. Sellers find themselves with the boon of being in a low inventory environment, and prices approaching historic highs. That optimism is tempered by the knowledge that the market will be contending with how mortgage interest rates respond to a shift in policy by the Federal Reserve for the first time in over a decade. Many buyers are likely to find themselves motivated to action after seeing the end of year jump in rates, and knowing that the best value on a loan could be now.
The Buss Lampert McKinley Group finished this December with five closings, bringing the team tally to 46 transactions for the year with $25 million in volume. You may have noticed from our Facebook posts that we have some big news to announce - We are adding a new member to the team, Danny Lampert! With the addition of Danny, we are looking forward to being able to continue to provide outstanding service to our growing clientele.
Thank you for making us your real estate professionals of choice and for your continued support in 2017. Here’s to a healthy and prosperous new year!