Ventura County Real Estate Market Update

The national media is abuzz with news about the real estate market recovery.  In Ventura County, we are no exception as evidenced by rapidly increasing home prices.  If these trends continue, we will surpass the market action index for a buyer's market, and move towards a market that is more favorable to sellers.  In some areas in Ventura County we are already seeing this happen.  However, even as prices continue to climb, we are seeing a decrease in inventory.  Meaning that there is more demand than supply, and too many buyers for the limited number of homes for sale.  

Now lets take a look at Inventory - not looking so good... Buyer conditions have been very favorable up until now and housing affordability has been better than ever.  But now that potential buyers and investors have caught on to this trend, all the available inventory has been eaten up and there are few homes available on the market today.

Many homeowners are on the fence about selling because they see the prices rising and are waiting until the timing is right for maximum profit - what many people forget is that if they plan to purchase a replacement home they will be paying more in the long run as prices continue to go up.  The current threshold evidences that NOW is the time to sell as interest rates are still favorable, and many homes are still affordable.  Houses are also selling QUICKLY - many homes listed by Prudential California Realty have multiple offers within a matter of days.

If you or someone you know is considering buying or selling a home or you just want to know what your home is worth in today's market, please visit our website www.prucalhomes.com for more market stats, or to contact an agent for a free home valuation.