Sales of Single-Family Houses Fall 17% in Quarter

The number of existing single-family houses sold in Ventura County fell 17% during the first quarter, and prices were down 3% compared with the fourth quarter of last year, according to the California Assn. of Realtors.

The median price for houses in the county was $226,500 during the first three months of the year, the association said. This compared with $233,800 in the fourth quarter of 1991 and $230,940 in the first quarter of 1991.

Sales in this year’s first quarter were off 16% from the same quarter a year ago.

The association does not track condominium sales in the county.

On a year-to-year basis, prices for existing houses were down 2%.

Declining prices meant that 27% of the county’s households could afford to buy a median-priced home in March, the real estate group said. This compared with an affordability index of only 20% in March, 1991.

In contrast with the Ventura County market, sales and prices increased in Los Angeles County and statewide during the first quarter.