Housing Sales Show Signs of Strength

Ventura County’s housing market made a strong comeback in March, with sales of single-family houses zooming 41.6% above February and 12.7% from March, 1992, according to the California Assn. of Realtors.

The median price of houses whose escrows closed in March was $215,290--up 6.2% from the previous month but down 3.2% from March, 1992.

The state association does not track counties’ month-to-month condominium sales.

In the Conejo Valley--including Thousand Oaks, Newbury Park and parts of Los Angeles County--sales of single-family homes totaled 163 in March, compared to 112 in February and 171 in March, 1992.

The Conejo Valley Assn. of Realtors said the median house price in March of this year was $268,749, compared to $279,310 in March, 1992.

Condominium sales in the Conejo Valley gained strength, too, rising to 44 in March from 35 in February, and declining only slightly from 47 in March, 1992.

Pat Fredericks, president of the Conejo Valley group and sales manager of Brown Realtors’ Newbury Park office, said first-time buyers are fueling the housing comeback, but that sales of higher-priced homes have not yet rebounded.

“I expect business the rest of the year to be somewhat ahead of last year--good but not wonderful,” Fredericks said.

Home building in the county is showing some renewed life, too.

The Construction Industry Research Board, a trade group, reports that 81 new single-family houses were started in March, compared to 45 in February and 83 in March, 1992. Construction of multifamily units rose to 30 in March from nine in February and 21 in March, 1992.

Nonresidential construction remained in the doldrums in March, however, with new projects valued at a total of $11.2 million, compared to $20.5 million the previous month and $5.5 million a year earlier.