Leave a Message

Thank you for your message. We will be in touch with you shortly.

Homes for Sale in Wailea, HI

Porter Ranch Real Estate Market Update - September 2024

Overview of the Market

 

In September 2024, the Porter Ranch real estate market demonstrated a robust performance, with a notable increase in median home prices. The median home sold price reached **$1,185,000**, reflecting a **6.8% increase** from the previous year. This upward trend is accompanied by a median price per square foot of **$524**, highlighting the area's desirability.

 

Home Prices by Bedroom Type

 

A closer look at the housing prices by bedroom type reveals significant variations:

 

- **1 Bedroom:** No change

- **2 Bedrooms:** Increased by **10.5%**

- **3 Bedrooms:** Increased by **12.6%**

- **4 Bedrooms:** Increased by **3.4%**

- **5+ Bedrooms:** Increased by **1.6%**

 

This data indicates strong demand for multi-bedroom homes, particularly for 2 and 3 bedroom properties.

 

Inventory and Sales Activity

 

The inventory of homes for sale in Porter Ranch showed an **18.8% increase** from August 2024, with **76 homes available**. Here’s a breakdown of the inventory changes by bedroom type:

 

- **1 Bedroom:** No change

- **2 Bedrooms:** No change

- **3 Bedrooms:** No change

- **4 Bedrooms:** Increased by **20%**

- **5+ Bedrooms:** Increased by **40%**

 

Despite the increase in inventory, the market remains competitive. A total of **12 homes were sold or pending** in September, marking a **20% increase** month-over-month. Of these, **25% were sold under asking price**, while a substantial **75% sold over asking**, indicating high demand and competitive bidding among buyers.

 

Days on Market

 

Homes in Porter Ranch experienced an average of **21 days on the market** in September 2024, which is an increase of **20.4% compared to last year**. Notably, **83% of homes sold within 30 days**, demonstrating that well-priced properties are still moving quickly in this market.

 

Conclusion

 

The Porter Ranch real estate market in September 2024 showcases a resilient environment for sellers, with rising prices and strong demand across various home types. For buyers, while competition is fierce, the increase in inventory presents new opportunities. If you're considering buying or selling a home in Porter Ranch, now is an excellent time to explore your options.

 

For expert guidance and assistance in navigating the Porter Ranch real estate market, **contact us today**!

Recent Blog Posts

Northridge Housing Market Update: October 2024 – A Strong Seller’s Market

The Northridge real estate market continues to favor sellers, with home prices rising and properties moving quickly. In October 2024, the median home sale price in Nor… Read more

October 2024 Real Estate Market Update: West Hills

October 2024 was a strong month for real estate in West Hills, with 38 homes sold across the area. The market showed notable signs of activity and demand, especially w… Read more

S Singh Sandhu

Chatsworth Real Estate Market Update: A Seller's Market Continues in October 2024

The real estate market in Chatsworth is continuing to favor sellers, with home prices remaining strong and homes selling faster than average. If you’re thinking about … Read more

S Singh Sandhu

Porter Ranch Housing Market Update: October 2024

The Porter Ranch real estate market remains a strong seller’s market in October 2024, characterized by higher home prices and homes that sell more quickly. In October,… Read more

Kamala Harris's Real Estate Policies: Navigating the Pros and Cons of Homeownership Boost

Analyzing the Impact on Housing Markets and Beyond

Trump's Real Estate Policies: A Double-Edged Sword for the Housing Market

Exploring the Potential Impacts of Deregulation and Tax Incentives on Homeownership

"Renting vs. Buying in Porter Ranch: Which Path Will Secure Your Financial Future? "

Raveena and Simran Debate!

Northridge Real Estate Market Update - September 2024

West Hills Real Estate Market Update - September 2024

Work With Singh Sandhu

Singh Sandhu is dedicated to helping you find your dream home and assisting with any selling needs you may have. Contact Singh today to start your home searching journey!