Oxnard Real Estate Market Report for February 2013

Below, is the illustration of the Oxnard Real Estate Market Report for the month of February, 2013.  This illustration shows that the sales price to list price is consistently showing over 100%, this is a result from buyers willing to pay more than list price to get the home.

The average sales price for Single Family Homes in Oxnard has appreciated 9.9% in the last year, the median price has appreciated 10% in the last year.  The median price (midpoint price, half the homes sold for more, half the homes sold for less).

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 sold prices coming in above list price, if the home is priced correctly in the first place.  

We may see some appraisal issues with offers coming in higher than the sold comparables support, however, this will need to be considered on a property by property basis.

As of this writing, there are only 44 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:

• 21  Oxnard Single Family Homes priced under $350K
• 4 Bank Owned Homes for Sale

• 14  Oxnard Single Family Homes priced from $350K to $450K
• 2 Bank Owned Homes for Sale

•  3  Oxnard Single Family Homes priced from $450K to $550K

•  3  Oxnard Single Family Homes priced from $550K to $650K

•  3  Oxnard Single Family Homes priced from $650K to $850K

• 0  Oxnard Single Family Homes priced from $850K 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 Oxnard, please call new listings do come on the market and I can notify you when one fitting your needs comes up or visit my website for the most up to date information.

Hope you find the Oxnard Real Estate  Report for February 2013 helpful!