Oxnard Real Estate Market Absorption Trend as of November 2012

Below is the illustration of the Oxnard Real Estate Market Absorption Trend for the month of November 2012.  This illustration shows that the average list to sales price was consistently in the high 99% range from 2010 to present.

The Oxnard Single Family Home average sales price has appreciated for each timeframe and is currently 7.4% higher than the average sales price for 2010.  The median price is also higher than that recorded for 2010.  The median price (midpoint price, half the homes sold for more, half the homes sold for less) has steadily been increasing.  In November, the average list to sales price on average registered over 100%, meaning multiple offers pushed the sold price higher than the list price.

Oxnard Single Family Homes inventory levels remain low which is creating a supply and demand situation.  This lack of supply of homes often results in multiple offers resulting in higher list to sales price as we see in this report for November for the Oxnard Real Estate Market. This trend should continue into 2013, if the inventory levels remain low, however, appraisal issues and buyers reluctance to pay for homes at higher prices may stall this appreciation trend.  Creation of jobs and consumer confidence will help the appreciation trend.

As of this writing, there are only 21 Single Family Homes for sale in Oxnard , and that translates to approximately less than a one months supply of inventory which by definition of the Market Absorption Analysis model would put  Oxnard  Single Family Homes in a sellers market.  

This lower inventory of homes in Oxnard is creating multiple offers on many homes because the demand is more than the supply.

The breakdown of available  Oxnard  Single Family  Homes for sale is as follows:

• 9  Oxnard Single Family Homes priced under $350,000

• 9  Oxnard Single Family Homes priced from $350,001 to $450,000

• 1  Oxnard Single Family Homes priced from $450,001 to $550,000

• 0  Oxnard Single Family Homes priced from $550,001 to $650,000

• 1  Oxnard Single Family Homes priced from $650,001 to $850,000

• 1  Oxnard Single Family Homes priced from $850,001 and above

For home buyers wanting to purchase a Oxnard 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.

Looking to sell or buy in Ventura, please call or visit my website for the most up to date information.

Hope you find the Oxnard Real Estate Market Absorption Trend for November 2012 helpful!