Ventura County Home Sale Price Medians by City
Home Sales Recorded in July 2007
City/Area | # Sold | July 2007 | July 2006 | % Chg |
CAMARILLO | 81 | $543000 | $677500 | -19.85% |
FILLMORE | 7 | $532500 | $454500 | 17.16% |
MOORPARK | 32 | $610000 | $614500 | -0.73% |
NEWBURY PARK | 58 | $638500 | $731500 | -12.71% |
OAK PARK | 24 | $699000 | $479000 | 45.93% |
OAK VIEW | 3 | $640000 | $499000 | 28.26% |
OJAI | 7 | $565000 | $651000 | -13.21% |
OXNARD | 116 | $563000 | $590000 | -4.58% |
PORT HUENEME | 13 | $405000 | $436500 | -7.22% |
SANTA PAULA | 11 | $475000 | $537000 | -11.55% |
SIMI VALLEY | 137 | $540000 | $581250 | -7.10% |
THOUSAND OAKS | 81 | $710000 | $710000 | 0.00% |
VENTURA | 60 | $516000 | $580000 | -11.03% |
WESTLAKE VILLAGE | 21 | $927000 | $947500 | -2.16% |
As the table above shows the market trend in Ventura County differs from location to location. This year, in some places such as Camarillo, the drop in the Real Estate Market prices was as much as 20% while in other places such as Thousand Oaks the Market stayed strong and showed no changes from last year. On the other hand, the real estate market has actually seen some increases in some places in Ventura County. The median price of a home in Oak Park this year increased by 46% since the same time last year.
So now with the news about job cut-offs by Amgen in Newbury Park and Countrywide in Calabasas are we to expect a further drop in the median house prices in Ventura County?
Stay tuned for my next month's report to see how the Real Estate Market reacted to these announcements.
Source: http://www.dqnews.com/
Wow!! I wonder what makes Oak Park and Oak View so special to have such a substantial increase in this market. Oxnard seems like a good place with the stats!
GREAT INFO Mana!! I'll be watching for next month's updates! Thanks for keeping us informed about Ventura County.
Chris, Thank you.
Missy, Thank you, I feel the same about you.
Joanne, It surely seems that way.
Mana,
Your breakdown by community really shows that real estate is local. Fillmore, Oak Park, and Oak View are doing so differently than a more general trend would show. Great information for homebuyers and sellers in Ventura County.
Mana,
Well done. It's very easy to understand your analysis as compared to the prior year. You know your market in Camarillo and surrounding areas.
BTW, heading to BRO in Burbank?
Mana I think you may have found your niche inside the Camarillo market hummm??? I'm curious, Where do you get your stats on the % change, is it in your MLS did you calculate it or what? Just wondering..very neat information on Camarillo.
Unfortunately the numbers are without much needed context. Both historical and current. For example, Is 32 sales for Moorpark good or bad?
As for median prices they are the most misunderstood statistic in all of real estate, many confuse them with the value of homes when in fact it speaks to the composition of homes sold and tells you very little about the underlying market conditions. You can have rising median and falling home values just as you can have a falling median and rising home values.
For the places with large jums on low volume, it is statistically meaningless.
This was last years stats for Oak Park and Oak view:
Median is such a poor metric it is why people follow sales (absorption rates) and inventory (supply) it will tell you much more at a basic level way before people see the effects show up in the median price.