The current real estate market in Ventura County CA continues to amaze even the most seasoned real estate professionals every day. You see, as inventory decreases in any type of product, you typically see prices go up as the rule of supply and demand takes hold. But this is not the case in Ventura County, particularly the western area. Case in point;
In the last 30 days we have seen total inventory of homes below the $600k mark drop from 1608 units to 1496 as of Dec 21. And although sales have increased over the same time frame from 364 to 399, the average sales price in the below $600k mark has dropped from $357k last month to $340k today.
How long will this continue? Nobody knows for sure, and each market is different. The key is to watch interest rates and home prices in your neighborhood closely, and consult with a real estate professional who is a licensed REALTOR (like me!) so that you know whats going on.
Now get going and buy that home!
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