Chatsworth Real Estate Market Update - September 2024

Market Overview

The Chatsworth real estate market experienced significant growth in September 2024, with the median home sold price reaching $1,095,783, an impressive 18.7% increase from the previous year. The median price per square foot stood at $522, indicating strong demand for homes in the area.

Home Prices by Bedroom Type

Examining home prices by bedroom type reveals the following trends:

1 Bedroom: Increased by 9.1%
2 Bedrooms: Increased by 11.5%
3 Bedrooms: Increased by 0.2%
4 Bedrooms: Increased by 16.8%
5+ Bedrooms: Increased by 9.2%

These figures illustrate notable price increases, particularly for 4-bedroom homes, reflecting heightened demand in this segment.

Inventory and Sales Activity

In September 2024, Chatsworth had 166 homes for sale, a slight 3.1% increase compared to August 2024. The breakdown of inventory changes by bedroom type is as follows:

1 Bedroom: No change
2 Bedrooms: Decreased by 13%
3 Bedrooms: No change
4 Bedrooms: Decreased by 2.1%
5+ Bedrooms: Increased by 15.8%

Despite a modest increase in overall inventory, the market saw a 9.1% decrease in sales activity, with 30 homes sold or pending. Among these transactions, 53% were sold under asking price, 17% sold at asking, and 30% sold over asking, suggesting a mix of competitive bidding and price adjustments.

Days on Market

Homes in Chatsworth had an average of 31 days on the market in September 2024, a 18.7% decrease compared to last year. This indicates that homes are selling more quickly, with 50% of homes sold within 30 days.

Conclusion

The Chatsworth real estate market in September 2024 showcases robust growth, particularly in median home prices and a quickened pace of sales. While some inventory challenges exist, demand remains strong, making it an opportune time for both buyers and sellers. If you're looking to navigate the Chatsworth market, our team is here to help.

For expert assistance in buying or selling a home in Chatsworth, contact us today!