This is the September 2016 Real Estate Market Update for

Ventura Condos

Ventura Condo sales this September, 2016 dropped by two from what was sold last September. The median price sales price for Ventura Condos  rose a scant .87% from September, 2015.

Please note in this Real Estate Market Report, I use the terms condos and townhomes interchangeably. Here locally, the most common term used is condo.

I really sound like a broken record when it comes to talking about the inventory of Ventura Condos. There are just 38 condos for sale in Ventura. That is a very small amount of Ventura Condos compared to the folks that would like to purchase one.

If we look at this inventory number of 38 Ventura Condos (at the time of the original post) and we see that we sell on average 24 Ventura Condos in a month and if no other Ventura Condo comes on the market our inventory would drop to almost zero. This puts our Months of Supply of Ventura Condos in a Seller's Market because we have just over a month of supply of condos.

Generally speaking a low supply and high demand drive up prices of things and Ventura Condo prices are no different but we are not seeing the rates of price appreciation sky rocket. I do believe Ventura Condo prices will continue to rise but at a moderate rate. With interest rates still historically low, it is still a good time to purchase a Ventura Condo.

It is also important to point out that the lower price range of Ventura Condos is very competitive.

If one is looking to purchase in this particular price range, one needs to be fully pre-approved and ready to go as condos in this attractive price range often get multiple offers or a good offer within days that is accepted by the seller.

However being pre-approved with all your financial ducks in a row is sound advice for those looking to purchase a condo in any price range.

You can read the full September 2016 Real Estate Market Update for

Ventura Condos in my personal blog at this link Ventura Condo Report September 2016.