Home Sales Are Up for 3rd Consecutive Year

Sales of existing single-family homes in the Simi Valley-Moorpark area climbed in 1993 for the third consecutive year, up 13.8% from 1992, a study by a realty group showed.

Altogether, 1,726 homes closed escrow in 1993, an increase of 209 from 1992, according to records kept by the Simi Valley-Moorpark Assn. of Realtors. Homes were sold at an average price of $218,000, down 5.5% from 1992.

Nearly 75% of the homes were sold in Simi Valley, and the rest were sold in Moorpark and the unincorporated Santa Rosa area.

The average price of a four-bedroom home sold in Simi Valley was about $224,300, while homes of a similar size in Moorpark and Santa Rosa averaged about $277,000.

Association President Shannon Wolf said that despite a brief lapse after the Jan. 17 earthquake, sales have continued to rise.

“I don’t have a crystal ball, so I can’t say just how long this will last,” Wolf said. “But we are selling a lot of homes and it looks like that is going to continue.”

While home purchases rose, condominium sales declined 4.1% to 237, the lowest annual total since 1987.