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Ventura housing market showing strength

14 Nov 2012 4:50 PM
Ventura housing market showing strength

Growing demand and a diminishing inventory of for-sale homes have helped raise the median price of homes in Ventura. As the market improves, more buyers have started entering the luxury home market, according to the Ventura County Star.

In fact, the low inventory and rising sale prices have led some local experts to declare this fall an ideal time for Ventura residents to sell their homes.

"If you are a homeowner considering selling, now is a great time to do so because there are literally dozens of buyers for every property, and top dollar can be realized," Brian Troop, a local real estate professional, told the source.

Of course, recent data suggests that there may not be too many Ventura residents anxious to sell. According to figures from real estate analytics firm DataQuick, the number of homes on the market has been decreasing since prices and optimism have started rising. Since a post-recession high point in May 2012, the number of monthly sales has declined significantly.

According to the Ventura County Star, the decline in inventory and increasing demand have helped spur the "move-up" market, as residents begin to feel more confident investing in higher-priced properties. According to Troop, this market is at a level he hasn't "seen in years."