Below is the illustration of the Camarillo Real Estate Market Absorption Trend. This illustration shows that the average amount of Single Family Homes sold in Camarillo on a per month basis has been fairly consistent from 2010 to present.
The average sales price did decline by approximately 2.3% from 2010 to 2011. However the average sales price jumped 12% from 2011 to the those Camarillo Single Family Homes that sold in the last 3 months of 2012.
The most startling fact presented by the data is the amount of Camarillo Single Family Homes for sale. Currently, there are only 130 Single Family Homes for sale in Camarillo, and that translates to approximately 2 months of inventory which by definition of the Market Absorption Analysis model would put Camarillo Single Family Homes in a sellers market.
The breakdown of available Camarillo Single Family Homes for sale is as follows:
- 14 Camarillo Single Family Homes priced under $350,000
- 24 Camarillo Single Family Homes priced from $350,001 to $450,000
- 35 Camarillo Single Family Homes priced from $450,001 to $650,000
- 13 Camarillo Single Family Homes priced from $650,001 to $850,000
- 44 Camarillo Single Family Homes priced $850,001 and above originally published at Ventura County Real Estate Center
One can see from this breakdown that the lower price range inventory is very low. This shortage of inventory is creating multiple offers on many homes because the demand is more than the supply.
For home buyers wanting to purchase a Camarillo Single Family Home it is imperative that one must have pre approval letter in hand, proof of funds for the down-payment and closing costs and be ready to make their highest and best offer initially.
Hope you find the Camarillo Real Estate Market Absorption Trend for March 2012 helpful!
Originally published at Ventura County Real Estate Center
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