SOLD. Elegant Calabasas Townhome on Hideaway Cul-de-Sac

freedom thumb.jpgThis beautiful, elegant Calabasas townhome has a hideaway location at the end of a cul-de-sac. The small community brings together the intimate ambience of a Mediterranean hill town with the Southern Californian tradition of indoor-outdoor living. The light-filled home has high ceilings, gleaming wide-plank wood floors, a fireplace, a formal dining room plus a kitchen eating area. Granite counters, recessed lighting, custom built-ins.
Enjoy the inviting patio, plus a gorgeous pool area with mountain vistas. Two car garage with laundry, inside access. Las Virgenes School District. Close to schools, Gelsons Village. 20 minutes to the beach. Offered at $449,000. For more information about Calabasas real estate, contact Shelly Slovin at 818.887.3107.

Home Sales Surge

According to Bloomberg.com, sales of existing U.S. homes jumped more than forecast in July to the highest level in almost two years, signaling the housing crisis that crippled the world’s largest economy is easing.
Purchases climbed 7.2 percent to a 5.24 million annual rate, the most since August 2007, the National Association of Realtors said today in Washington. The gain was the biggest since records began in 1999. The median price fell 15 percent.

Calabasas and Woodland Hills real estate prices for May 2008

The data are out for May for home prices and sales. Here are the stats for Calabasas and Woodland Hills real estate:
91302: Calabasas Real Estate
Median sale price

  • May 2007: $1,337,000
  • May 2008: $1,205,000
  • Change: -9%

Number of transactions

  • May 2007: 20
  • May 2008: 11
  • Change: -45.0%

91364: Woodland Hills Real Estate
Median sale price

  • May 2007: $820,000
  • May 2008: $630,000
  • Change: -23.2%

Number of transactions

  • May 2007: 30
  • May 2008: 25
  • Change: -16.7%

91367: Woodland Hills Real Estate
Median sale price

  • May 2007: $756,000
  • May 2008: $689,500
  • Change: -8.8%

Number of transactions

  • May 2007: 40
  • May 2008: 27
  • Change: -32.5%

Source: Dataquick Information Systems

So Cal housing market still under siege, says LA Times

Southern California’s housing market took another beating last month as median prices fell an average of 27% from a year ago — the sharpest drop in at least 20 years. The median home sale price in six Southern California counties was $370,000, down from $505,000 a year earlier, according to DataQuick Information Systems. DataQuick said that was the biggest annual decline it has recorded since it began tracking prices in 1988.
The last time the median was lower was in March 2004, when it was $364,000.
The dramatic price drop was attributed largely to sluggish high-end sales, more sellers dropping their asking prices and lenders selling off more of their aggressively priced, repossessed homes, according to real estate data provider DataQuick Information Systems.
original article by Roger Vincent, Los Angeles Times Staff Writer, 10:56 AM PDT, June 16, 2008