Market Trends for The Oaks of Calabasas
The real estate market has been a very bumpy ride over the last few years for everyone involved. Buyers, Sellers, Realtors, Escrow companies, Lenders and a much longer list of associated vendors and servicers have all felt the tremendous impact of the California real estate market as it has gone through it’s most recent cycle. All markets have been affected from Beverly Hills to the inland desert towns. Calabasas is no exception. We live and work in Calabasas and have watched all of our local communities adjust to the market in their own way. Below is a graphic analysis of average median price changes over the last 10 years, or so, in premiere community of The Oaks of Calabasas.
The market appears to finally be recovering now, and with that, we wanted to analyze where we have been…
The Oaks Summary
The median sales price for homes in The Oaks for May 12 to Jul 12 was $1,880,000. This represents an increase of 1.6%, or $30,000, compared to the prior quarter and an increase of 0.3% compared to the prior year. Sales prices have depreciated 27.4% over the last 5 years in The Oaks, Calabasas. The median sales price of $1,880,000 for The Oaks is 97.89% higher than the median sales price for Calabasas CA. Average listing price for homes on Trulia in The Oaks was $2,981,602 for the week ending Aug 08, which represents an increase of 2.4%, or $71,090 compared to the prior week and an increase of 5.2%, or $146,652, compared to the week ending Jul 18. Average price per square foot for homes in The Oaks was $448 in the most recent quarter, which is 37.42% higher than the average price per square foot for homes in Calabasas. (Source – Trulia)