Top Trends in Thousand Oaks Real Estate Listings for 2024
In 2024, the Thousand Oaks real estate listings market is showcasing several notable trends that both buyers and sellers should be aware of. Understanding these trends is crucial for navigating the market effectively and making informed decisions.
Here’s an in-depth look at the key developments shaping the Thousand Oaks real estate landscape this year:
Thousand Oaks Real Estate Listings Indicate an Increase in Home Prices :
Home values in Thousand Oaks have risen significantly. As of April 2024, the median home price reached $1,075,000, marking a 7.5% increase from the previous year. The median price per square foot also climbed to $539.
Increase in Home Sales:
The market has seen a surge in home sales, with 108 homes sold or pending in April 2024, a 16.1% increase from the previous month. Among these transactions, 32% were sold below asking price, 20% at asking price, and 47% above asking price.
Increase in Housing Inventory:
There has been a noticeable increase in the number of homes available for sale. In April 2024, the inventory rose to 361 homes, representing a 14.6% increase compared to March 2024.
Thousand Oaks Real Estate Listings Also Show a Decrease in Days on Market:
Homes in Thousand Oaks are selling faster than before. The average days on market dropped to 31 days in April 2024, a 29.4% decrease from the previous year.
Price Increase by Bedroom Type:
The price trends vary by home size. Three-bedroom homes saw a price increase of 6.3%, four-bedroom homes by 3.6%, and homes with five or more bedrooms by 4.9%. Conversely, the prices for one-bedroom and two-bedroom homes slightly decreased by 1.3% and 0.4%, respectively.
Increase in New Listings:
The trend of new listings is positive, with an uptick observed in February 2024 compared to February 2023 in the broader Sacramento region. This suggests a similar potential increase in new listings for Thousand Oaks.
Sales Growth:
Southern California markets, including Thousand Oaks, are expected to see a sales growth of 13.1% on average in 2024. This contrasts with an average decline of 4.1% in other major Californian metro areas.
These trends in the Thousand Oaks real estate listings indicate a vibrant and competitive real estate market in Thousand Oaks for 2024, characterized by rising home prices, increased sales and inventory, and a quicker turnover of properties. Staying informed about these trends can help buyers and sellers make strategic decisions and take advantage of market opportunities.
