Home Sales Increase 26% in 2nd Quarter

Home sales in Ventura County increased 26% in the second quarter of 1994 over sales in the same period last year, real estate industry analysts said this week.

From April to June, 3,008 new and existing homes were sold in the county, according to a report released Monday from TRW REDI, a company that compiles data on real estate. In 1993, 2,383 sales were recorded for those months.

The average price of a home sold in those three months was $230,234.

“Ventura (County) is doing well,” said Nima Nattagh, an analyst with TRW REDI. “Along with the rest of Southern California, it is emerging from the recession.”

Existing homes did better on the market than new homes, Nattagh said. The average price of new homes sold has dropped 5.9% since second quarter 1993, and homes that cost less than $200,000 are selling quickly, he said.

Of the six Southern California counties, home sales in Riverside County showed the most improvement since last year, with Ventura County a close second.