June continues the COVID19 ‘new economy’, saw a seasonal increase of home sales in Ventura County to 580 total sales but the volume was off 22% from 2019. The average home price increased YOY by 12.6%.
June sales were a reflection of tight inventory and reduced ability to show homes due to COVID-19 throughout Ventura County.
Summer sales typically increase and we continue to see interest in Ventura County from other areas, notably Los Angeles area buyers.
Camarillo had a similar trend with homes sale of 86 (down from 89 in June 2019) and an average home price of $730,400.
Ojai continues to be hot with both sales and prices up. The average sales price in June was $1,211,600.
Oxnard home sales were down by 39% to 85 with an increased average price of $699,000.
Ventura home sales saw an increase in sales from May’s 46 to June’s 81 and an increase in average price to $738,700.
Short term forecast: We believe that the economy opening up and summer seasonal sales increases will lead to the resumption of a more normalized sales trend. Prices should continue to hold steady and rise in the mid to upper-level ranges due to high demand and lower than normal inventory of homes for sale through September, 2020.