Calabasas Home Sales Statistics
Here are the current stats for Calabasas Homes For Sale.
There are currently 178 homes and condos active on the MLS for sale.
There are currently 87 homes and condos in escrow on the MLS.
There are 66 sold homes and condos in Calabasas since the beginning of 2010.
If you do the simple math with 178 homes available and 87 in escrow this month, it would appear that there are about 2 months worth of inventory. Those numbers are likely skewed by the fact that 46 of the homes that are in escrow are short sales. The reason this skews the statistics is because most of the time, the short sales hold a pending or back-up status for much longer than standard sales while waiting for the banks to approve the sales. The activity is still a good indicator as it shows that there are buyers interested in purchasing these homes.
The number of homes that have sold in the last 3 months gives a different picture showing an average of 22 homes per months being sold. Based on that one could infer that we are looking at about 8 months worth of home inventory. That is a more accurate indicator. We could go back even further and look at the number of homes sold in the last six months, which is 145, and we are still looking at 7.4 months worth of home inventory.
We have willing buyers and willing sellers. Banks are even approving the short sales. We now need the banks to step up and give loans. Especially jumbo loans, which have proven very difficult to get these days. C’mon banks. Let’s make it happen.