Simi Valley, Moorpark Home Prices Down 5%

The average sales price of an existing single-family house in the Simi Valley and Moorpark regions fell to $238,565 in May, down 5% from a record high of $250,240 reached the previous month, the Simi Valley-Moorpark Board of Realtors said Monday.

However, the average price remained 27% above its year-earlier level of $188,154, the board noted.

The price dip in May accompanied a 6% drop in existing house sales last month, to 198 units from 211 sold in April, the board said. The latest sales total also was 7% below the 213 houses sold in the region in May, 1988.

Condominium sales, meanwhile, jumped 39% in May to 72 units from 52 units in April, reflecting buyers’ heavy demand for affordable housing, the board said. The average sales price of condominiums rose 18%, to a record $170,956 from $144,614 in April, and stood 70% higher than a year ago when the average was $100,424, the board said.