Ventura County Pace of Housing Sales Takes Jump

Ventura County new-home sales rose 55% to 1,949 units during the second quarter of this year, influenced by relatively low interest rates and the availability of mortgage money, according to a survey by the Continental Land Title Co.

Detached houses made up 62% of the market, with Simi Valley accounting for the most sales in the county, according to Ernest V. Siracusa Jr., the market researcher who conducted the study. Detached houses sold at a rate of 3.92 per subdivision per week, more than twice the 1.69 rate of condominiums and town houses, he said.

At the end of June, there were only 838 unsold new housing units , including 133 completed. The 133 are less than a week’s supply at current levels, Siracusa said. Average prices for attached units rose from $116,077 at the end of March to $130,750 at the end of June, while new detached homes increased from $197,595 to $202,064.