The following trends report includes data for the last 14 months. The summary report is for February 2016, the most current month for when data is available.
For Somis homes below $1 Million, February was a Seller’s Market. The Average Sold Price per Square Footage was up 27.3% compared to the previous month and down 16.6% compared to last year.
For Somis homes between $1 Million – $2 Million February was a Buyer’s Market. There was nine months of inventory on the market last month; this is the amount of time it theoretically takes to sell all of the homes currently available in this price range.
For Somis homes Above $2 Million, February was also a Buyer’s Market. The Average “Days on Market” (DOM) was 200 days, down 21.9% from 256 days the month prior.