Recently, I was asked to report on the inventory for the Woodland Hills area. The parameters I used were, single-family homes 1800-2200 Sq.Ft for the past three months extracted from the MLS.
Active Listings= 67 with an average price of $817,000
Pending Sales=7 with an average price of $818,000
Cancelled Listings= 24 with an average price of $848,000
Expired Listings=30 with an average price of $831,000
Solds=38 with an average price of $780,000
Even though there are too many listings in this market area, what’s interesting about the above stats is that the current pendings sales have sold for a higher dollar amount than the average sold price. The pendings sales were confirmed by the listing agents.