We just pulled the stats from Ventura County MLS for the County and the cities of Ventura and Oxnard/ Port Hueneme for attached and detached single family residences. It appears that the low end properties under $450,000 have finally settled into a bottom.
For the first time in a couple of years, the amount of properties that are in escrow consistently outnumber the amount of properties that are currently on the market for sale. Any well priced property is currently receiving multiple offers in this range. This is due to the very low interest rates and FHA programs available to home buyers.
Here are the stats... Buyers that have been waiting for the bottom in this price range should act now...
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City of Ventura MLS Statistics
Active Contingent Pending In Escrow Sold DOM
3/4/09 91 73 75 148 333 81/106
4/15/09 78 91 72 163 335 77/98
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Oxnard & Port Hueneme MLS Statistics
Active Contingent Pending In Escrow Sold DOM
3/9/09 459 285 332 617 1160 87/117
4/15/09 352 335 324 659 1183 86/114
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All Ventura County MLS Statistics
Active Contingent Pending In Escrow Sold DOM
3/4/09 1159 656 704 1360 2677 90/118
4/15/09 899 828 729 1557 2729 88/114
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* Note that the number of active listings has decreased while the homes in escrow are increasing, indicating a change in direction for the market.
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