Ventura Homes Report May 2016
Let’s look at the Ventura Homes Report May 2016 to find out how this segment of Ventura Real Estate performed for this month. This Report will give us housing sale statistics for Single Family Homes only. We then can compare these sales figures to past periods to get a sense of how this segment of the Ventura Real Estate Market is performing overall.
From this data we can determine if it is still a Seller’s Market or a Buyer’s Market.
This report only looks at Ventura Single Family Homes excluding the Beach Areas. The Beach area Homes Sales Statistics are on a separate Report. I separate the Beach Areas from this report because generally Beach Area Homes are in the higher price range and can skew the overall statistics for the majority of the Ventura Single Family Homes.
In May, 2016, we see 60 Single Family Homes were sold. This is twelve less homes than what was sold last May.
The Median Sales Price rose by 6.58% from May 2015. Median Home prices also increased a bit, up by 1.89% from what was cumulatively recorded for the prior 3 months.
The Median Sales Price is the point at which half of homes sold for more and half sold for less. It's influenced by the types of homes selling as well as a general change in values.
The Average Sales Price went up by 5.66% from the same month last year. This price point saw a slight decrease of 2.79% from 3 months ago.
The lowest price home sold in May 2016 was a two bedroom, two bath, 996 Square Foot home and the sales price was $358,500. This home sold for more than the list price.
The highest price home sold for $1,300,587. This newly built home located in the new Williams Home Development has four bedrooms, four and one half bathrooms and is 3077 Square Feet large. Check out the other homes in this new development.
One can see the comparison over the last 6 months for Ventura Single Family Homes Average Sales Prices, Median Sales Prices and the Average List Price in the graph below.
The current inventory of Ventura Single Family Homes is 126 and that translates to just over a two month supply of inventory. This means that Ventura Single Family Homes falls within the category of a Seller's Market. This is by definition of the Market Absorption Analysis model.
The bulk of the Ventura Homes for Sale in Ventura is in the price range of $500K to $700K making up 46.82% of the 126 available homes on the market at the time of this writing. This price range may act a bit more like a Buyer’s Market than a Seller’s Market because of the number of homes available for Buyers to comparative shop.
The active listings numbers below are Ventura Single Family Homes listed that do not have accepted offers on them. This is the list as of this writing, to see the up to date list see Ventura Single Family Homes.
How difficult will it be to find a home in Ventura in 2016?
As you can see, inventory of Ventura Single Family Homes is low. The inventory of homes in the price range under $400,000 price range will be a more competitive market.
It is important to understand the local Real Estate Market when buying a home.
Here is some advice to put your best foot forward when making an offer on a Ventura Single Family Home. You will need to rely on the experience of a local agent who knows the market well and has experience navigating this unique market.
You need to have your finances in order. Have a pre- approval letter in hand or proof of where the money is coming from if you are going to pay cash for your new home. Not every property attracts multiple offers, but many of them do. So when you find a home you want to make yours, you'll need to be not only ready, willing and able to buy, you'll need to do so fast.
Start your search for Ventura Single Family Homes for Sale today to see what types of property are available. Then give me a call to discuss what your best options are and how I can help you get positioned to find the Ventura Home of your dreams.
Ventura Homeowners thinking of Selling?
Inventory is low, now is a great time to put your home on the Market.
I am often asked about how the Ventura Housing Market is doing.
I hope you find the Ventura Homes Report May 2016 helpful!
About the author: The above Real Estate information about Ventura Homes Report May 2016 was provided by Kathy Stoltman.
She can be reached by phone/text at 805-746-1793. Kathy offers a wide range of real estate solutions for buyers, sellers and investors, attracting clients who demand excellence—in marketing, negotiations, market knowledge—and a genuine concern for their needs.
Kathy services all of Ventura County beautiful Cities: with an emphasis on Ventura, Oxnard, Camarillo and Ojai.
Originally published in Ventura County Real Estate Center
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