Woodland Hills real estate market update – May 2024
With interest rates still high, in the upper 6% range and Woodland Hills home prices still staying steady, in this upscale San Fernando Valley neighborhood, it has been a buyers market. Despite higher mortgage rates real estate inventory went up quite a bit in May showing that there is more interest for home owners to sell their homes. 39% more homes were on the market in May than in April.
In May 2024, the Woodland Hills real estate market has been steady and comparable to the previous months of the second quarter. The active median price fell by $97,500 which is about 7.5% from April, however homes sold for about $103,00 more. On average homes sold over asking price with multiple offers.
Woodland Hills Active Median Price: $1,399,500 (-$97,500)
Woodland Hills Sold Median Price: $1,260,500 (+103,000)
Median Days on Site: 30 (+10)
Sale to List Price: 101.2%
Active Listings: 204 (+58)
This Woodland Hills real estate market update is brought to you by your Woodland Hills realtor and real estate agent David Salmanson.
