Woodland Hills is a neighborhood bordering the Santa Monica mountains in the San Fernando Valley region of Los Angeles, California.
From October 2020 to October of 2021 property prices in Woodland Hills have gone up 11.6%
In October 2020, the median sale price was $950,000. In October 2021, the median sale price is $1,100,000. Currently the average price per square foot is $550.
Obviously, prices have risen quite a lot in just one year. But guess what… Woodland Hills sale prices, on average, are increasing at a rate of 15.8% year over year! This shows high, steady growth in the city that is very likely to continue.
The real estate market is somewhat competitive in Woodland Hills.
The average home goes for 3% over list price, and are pending in about 34 days. Homes deemed hot by RedFin (based on data, they believe it will sell within the first two weeks on the market), go for 8% over list price and are pending in about 14 days. Overall, the length properties stay on the market is lower than previous years.
In the last year, from October 2020 to October 2021, 66% of homes in Woodland Hills went for over list price. Year over year, the average is 44% of homes.
Sellers or buyers market?
Woodland Hills has more people looking to buy homes here than there are available, therefore it is a sellers market.
Should I still buy a home in Woodland Hills?
YES! Even with increasing prices, the data shows steady growth in this housing market, meaning the longer you wait, the higher prices will most likely be, and you will miss out on gaining equity in your home. Furthermore, mortgage rates are at a record low and you should take advantage of that! In the long run, it will pay off. Also, take avantage that all Woodland Hills has to offer and find your dream home!
Why Woodland Hills?
Woodland Hills is known for being a family friendly, trainquil, and suburban escape from the city while still offering fun activities, shops, dining, and more. Not to mention, you still have incredibly easy access to all that Los Angeles has to offer, includng only a 30 minute drive to Malibu, one of the most amazing beaches in te country. Furthermore, many people choose to live in Woodland Hills due to the acclaimed schools. It’s also a great place to hike, bike, and enjoy nature.
Looking to buy or sell? Contact us to learn more about how Katz Group LA can assist with all your real estate needs.