Below, is the illustration of the Camarillo Real Estate Market Absorption Trend for December 2012. This illustration shows that the average list to sales price is increasing a bit and is now in the 98% range, which means well priced Camarillo Single Family Homes are selling close to list price.
I think the best benchmarks from this data shows the average price per sq/ft has steadily increased over the year to end up very close to the result from 2010.
This appreciation is the result of low inventory levels and I do expect lower inventory levels to continue for 2013 due to government foreclosure intervention. Demand should remain strong thanks to Federal Reserve manipulated low interest rates and affordability.
To read Sean O’ Toole’s (Foreclosure Radar) prediction of the 2013 market see 2013 Real Estate Forecast.
The most startling fact presented by the data is the amount of Camarillo Single Family Homes for sale, excluding the Santa Rosa Valley and Somis homes. Currently, there are only 41 Single Family Homes for sale in Camarillo, and that translates to less than a months of inventory which by definition of the Market Absorption Analysis model would put Camarillo Single Family Homes in a sellers market.
This lower inventory of homes in Camarillo is creating multiple offers on many homes because the demand is more than the supply.
The breakdown of available Camarillo Single Family Homes for sale is as follows:
- 2 Camarillo Single Family Homes priced under $350,000
- 1 is bank owned
- 10 Camarillo Single Family Homes priced from $350,001 to $450,000
- 1 is bank owned, 2 are short sales
- 4 Camarillo Single Family Homes priced from $450,001 to $550,000
- 2 Camarillo Single Family Homes priced from $550,001 to $650,000
- 4 Camarillo Single Family Homes priced from $650,001 to $850,000
- 19 Camarillo Single Family Homes priced from $850,001 and above
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.
Looking to sell or buy in Camarillo, please call or visit my website for the most up to date information.
Hope you find the Camarillo Real Estate Market Absorption Trend for December 2012 helpful!
originally published in ventura county real estate center
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