‘96 Home Sales Beat Same Period in ’95 by 27.5%
Ventura County’s housing market continues to show signs of improvement relative to last year’s depressed activity, according to TRW REDI Property Data, a nationwide real estate company.
TRW REDI reports that sales of new and existing homes so far this year in Ventura County are up by 27.5%.
For all of Southern California, the increase in activity is 17%, according to TRW REDI.
The figures, which are based on closed escrow transactions, show that more than 2,900 single-family homes and condominiums in Ventura County were sold between January and April of this year. Ventura County is one of three counties in the Southland--the other two being San Diego and Orange--that are leading the current recovery in the housing market with sales increases of more than 20%.
The average price of a home or condominium sold in Ventura County during the first four months of the year was $224,585. This is a 1.5% drop from last year’s average sale price of $228,079.
“While it is true that Southern California’s housing has had a good start so far this year, the improvements are relative to last year’s particularly poor market conditions,” said Nima Nattagh, TRW REDI’s market analyst.
TRW REDI said current transaction volumes are below the level achieved in the first four months of 1994.
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