Surge in County’s Housing Sales Continues in October

The late summer and early fall surge in Ventura County’s housing market continued in October, although sales declined from September.

Resales of single-family houses totaled 489 last month, up from 459 in October, 1992, but down from September’s 576, according to Dataquick Information Systems.

The median price of houses sold in the county in October was $210,000. This was above the September median of $202,000, but the increase may be deceptive because the move-up market is coming to life, Dataquick notes.

“There’s been a slight shift in market mix,” said Donald L. Cohn, the research firm’s chief executive. “While the entry-level market has been the most active the last two years, we’re now seeing an increasing number of homes selling in the mid to move-up markets.”

Basically, low mortgage rates and soft prices remain the chief factors behind the housing rebound, Cohn added.

Condominium resales in the county totaled 112 last month, compared to 132 in September and 98 in October, 1992. The median condo price in October was $135,000, down from $141,000 the previous month and off a steep 17% from $162,000 in October, 1992.