County Housing Sales Increase 25% in October

Ventura County home sales continued their steady march upward in October, with sales showing a 25% increase over the same period last year, according to a report released Friday.

Last month, 1,115 homes were sold across the county, contrasted with just 891 sold during October 1996. The figures include new and resale homes as well as condominiums.

The county’s median home price also increased a solid 5.3%--to $200,000 from $190,000 last year, according to the report compiled by the La Jolla-based research firm Acxiom/DataQuick.

The latest sales information confirms that Ventura County’s once sickly residential housing market is continuing its powerful rebound from the recession of the early 1990s and is positioned to maintain its strong pace for the foreseeable future, Acxiom/DataQuick analyst John Karevoll said.

“A lot of pent-up activity is taking place right now, which is why we’re seeing these numbers,” Karevoll said. “Right now, there’s nothing to indicate this sales activity is going to slow down. . . . People need to move, and right now Ventura County doesn’t have the product to satisfy that need.”

Communities in the more affluent sections of eastern Ventura County continued to lead the home sales market with 526 homes sold, posting a 27% increase over October of last year, when 413 homes were sold.

“The homes that are nice and have all the right elements are going in a New York minute,” said Judi Reynolds, a Realtor at Remax in Thousand Oaks.

In Thousand Oaks, 227 homes were sold last month, contrasted with 176 in October 1996.

In Simi Valley, home sales inched up a modest 2%, from 165 in October 1996 to 168 last month. Sales fared better in Moorpark, with 80 homes sold last month, up from 57 over the same period in 1996.

And small but luxurious Oak Park recorded the most significant gains of any community in Ventura County, posting an impressive 240% increase in the number of homes sold, coupled with a nearly 28% increase in the median home price, to $276,000.

In the western portion of the county, Santa Paula led the market with a 111% increase in homes sold last month, contrasted with the same period last year. Camarillo’s market also continued to show signs of vibrant activity, boasting a 46% increase in homes sold last month.

Ojai also posted a significant 43.5% increase in sales, with 33 homes sold in October.

Oxnard’s home sales grew as well, with 37% more homes sold than in October 1996.

The market was much softer in other communities in west Ventura County.

Sales in Ventura increased only 4.5% last month, with 155 homes sold, and sales in Fillmore dropped by more than 22%, with only seven homes sold last month.

Oak View, however, posted the largest single drop of any community in the county with 25% fewer homes sold in October.

The overall activity in the market, however, has Realtors and economists painting a rosy picture for the county’s future.

With so much demand in the market, Karevoll said he expects the current trend to continue.

“It’s a strong market right now,” he said. “If there’s one thing Ventura County is short on, it’s product, so we can expect this to hold.”

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Ventura County House Sales

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October, 1996 October, 1997 Number Average Number Average City/ZIP Code of sales price of sales price CAMARILLO 93010 61 $198,000 82 $234,000 93012 45 $227,000 73 $217,000 FILLMORE 93015 9 $153,000 7 $130,000 MOORPARK 93021 57 $232,000 80 $219,000 OAK PARK 91301 15 $216,000 51 $276,000 OAK VIEW 93022 12 $179,000 9 $185,000 OJAI 93023 23 $164,000 33 $203,000 OXNARD 93030 62 $173,000 81 $165,000 93033 36 $124,000 49 $135,000 93035 41 $187,000 61 $247,000 PORT HUENEME 93041 33 $110,000 36 $126,000 SANTA PAULA 93060 9 $142,000 19 $158,000 SIMI VALLEY 93063 74 $170,000 71 $175,000 93065 91 $211,000 97 $194,000 THOUSAND OAKS 91320 49 $231,000 63 $231,000 91360 48 $183,000 66 $225,000 91361 21 $311,000 14 $281,000 91362 58 $243,000 84 $283,000 VENTURA 93001 37 $163,000 41 $260,000 93003 51 $173,000 67 $167,000 93004 45 $182,000 31 $180,000 COUNTYWIDE 891 $190,000 1,115 $200,000

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Source: Acxiom / DataQuick Information Systems