Real Estate Market

Featured Listing

Featured Listing

For Sale: $2,950,000

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Market Trends for Ventura County

Why you should have a Trust

I asked Kendall Vanconas, practicing attorney, of A to Z  laws to discuss the benefit of having a living a trusts as it relates to real estate. The primary benefit of setting up a trust over just having a will is that it will avoid probate. Probate can cost considerably more money than having a trust. Watch today's video as we look at the benefits and things to consider when setting up a trust. 

 

 

Housing Report

A persistently low supply of existing homes available for sale slowed April's sales velocity, resulting in a 29-day median number of days that a home remained on the market, a new low according to the National Association of Realtors®.

Total existing-home sales (completed transactions for single-family homes, townhomes, condominiums and co-ops), fell 2.3% to a seasonally adjusted annual rate of 5.57 million in April from 5.70 million in March. Despite the decline, sales remain 1.6% higher than a year ago and represent the fourth highest pace for the last 12 months.

NAR's chief economist, Lawrence Yun, said that every major region except the Midwest saw a drop in existing sales in April. "Last month's dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market," Yun said. "Demand is easily outstripping supply in most of the country and it's stymieing many prospective buyers from finding a home to purchase."

Here’s the breakdown for Ventura County home sales…..

Homes For Sale in May 2017 is 1420 units. It is up 14.3% compared to the last month and down 13% compared to the last year.

Home Closed in May 2017 is 748 units. It is up 10.5% compared to the last month and down 9.6% compared to the last year.


Home Placed under Contract in May 2017 is 870 units. It is up 17.3% compared to the last month and down 5.7% compared to the last year.

For Ventura County May 2017 is a Seller's market**

Summer Selling Opportunities

Sellers, you have an excellent opportunity to sell your home this season if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market today in many places is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell as soon as it could.

An Overpriced Home:

  • Minimizes offers
  • Lowers agents response
  • Limits qualified buyers
  • Lowers showings
  • Lowers prospects
  • Limits financing
  • Nets less for the seller

When you are ready, contact us today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

Contact Information

Photo of Harold Powell Real Estate
Harold Powell
RE/MAX Gold Coast Realtors
5720 Ralston St. Ste. 100
Ventura CA 93003
(805) 339-3516