Home Sales Continue to Gain Ground, Prices Rise

As the housing market enters what is traditionally its busiest period, home sales in Ventura County continue to increase and prices are rising slightly, according to a report released Thursday.

Last month, 1,070 homes were sold across the county, an increase of 3.9% from the previous May, when 1,030 homes were sold. The housing figures include new and resale homes as well as condominiums.

The county’s median home price inched up slightly to $200,000, compared with $199,000 during the same month in 1996, according to the report by La Jolla research firm Acxiom / DataQuick.

The latest housing report confirms that Ventura County’s residential real estate market--like that of the rest of Southern California--continues its rebound from the recession of the early 1990s, Acxiom / DataQuick analyst John Karevoll said.

“These are strong figures, as we’ve seen for the last year, year and a half,” he said.

Communities in affluent eastern Ventura County led the housing market.

In Thousand Oaks, 271 homes were sold last month, compared with 258 in May, 1996. For example, in the 91362 ZIP code, in the city’s northeastern corner, there was a 31.6% rise in sales and a median price of $306,000.

In Simi Valley, home sales climbed to 207 from 186 in May, 1996. And in Moorpark, 62 home sales were reported last month, up from 56 during the same period the previous year.

In the west county, Camarillo continued to enjoy a rise in home sales and prices. Last month, 143 homes were sold, an increase from 121 the previous year. The city’s median home price topped $223,000.

The housing market was softer in other western Ventura County communities.

Home sales in Ventura dipped to 119, down from 128 during May, 1996. In Oxnard, 132 homes were sold last month, compared with 141 during the same month in the previous year.

In Ojai, 29 homes were sold, up from 25 in May, 1996. The median home price in the city was $185,000, up 16% from $160,000 the year before.

Local Realtors said they are optimistic that the improving economy, coupled with interest rates under 8%, will continue to fuel the real estate recovery.

“We’re getting multiple offers on property now,” said Susan Herrick, a real estate broker in Ventura. “The market is very healthy.”

Karevoll said the growing median home price can be attributed to increased sales of homes priced at $400,000 and higher.

“Probably most of the growth is happening at the high end,” Karevoll said, adding that May, June and July are usually busy months for real estate sales because families like to move to new areas during the school vacation months.

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Ventura County House Sales

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May, 1996 May, 1997 Number Average Number Average City/ZIP Code of sales price of sales price CAMARILLO 93010 57 $199,000 77 $223,000 93012 64 $201,000 66 $224,000 FILLMORE 93015 13 $144,000 11 $160,000 MOORPARK 93021 56 $245,000 62 $219,000 OAK PARK 91301 41 $211,000 32 $276,000 OAK VIEW 93022 15 $155,000 13 $161,000 OJAI 93023 25 $160,000 29 $185,000 OXNARD 93030 62 $178,000 71 $164,000 93033 42 $131,000 34 $130,000 93035 37 $184,000 27 $217,000 PORT HUENEME 93041 28 $130,000 31 $110,000 SANTA PAULA 93060 18 $127,000 20 $147,000 SIMI VALLEY 93063 86 $181,000 86 $175,000 93065 100 $171,000 121 $184,000 THOUSAND OAKS 91320 73 $231,000 70 $247,000 91360 84 $220,000 78 $214,000 91361 22 $281,000 19 $262,000 91362 79 $262,000 104 $306,000 VENTURA 93001 34 $168,000 38 $147,000 93003 60 $177,000 49 $156,000 93004 34 $190,000 32 $177,000 COUNTYWIDE 1,030 $199,000 1,070 $200,000

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Source: Acxiom / DataQuick Information Systems