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Sales Are Down & Prices Unchanged? Time 2 Buy... or Sell??
Chris B Johnson, REALTOR® Featured Listing Time to Sell Your Home?
Mortgage Pre Approval Neighborhood Market Report Time To Buy A Home
Ventura County single-family home and condominium sales were up 2.2 percent from a revised 36,287 in April 2016. On a year-ago basis, sales were down 4.7 percent from 38,921 in May 2015.
“Sales continue to be lackluster state-wide,” said Madeline Schnapp, Director of Economic Research for PropertyRadar. “Without an increase in affordable inventory, high prices continue to depress sales. Unfortunately, our 2016 forecast of anemic sales in the face of high prices and low inventory is shaping up to be right on.”
Year-to-date sales (January through May 2016) totaled nearly 156,000 properties, down 3.8 percent from the same time period in 2015 and nearly unchanged from the same period in 2014. Year-to-date sales in 2014 and 2016 were the lowest since 2008.
The May 2016 median price of a California home was $430,000, unchanged from a revised $430,000 in April. On a year-ago basis, median home prices were up 6.2 percent from $405,000 in May 2015. The median price of a condominium was $405,000, down 2.4 percent from $415,000 in April 2016 but up 1.3 percent from $400,000 a year ago.
“Price appreciation took ... more
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