October Ventura County Real Estate Market
The real estate market in Ventura County defied all predictions from professional forecasters in October. It offers both buyers and sellers opportunities. And while the pandemic may have brought other sectors of our economy to a slow down (or in some cases to screeching halt) the real estate market has remained quite resilient. With that said, here is a recap of how the market in Ventura County fared in October of this year as opposed to the same time last year and why the outlook is bright even in these somewhat dark times.
October Ventura County Real Estate Market
For both buyers and sellers and even for investors the market has actually been stronger than many predicted. In Ventura County alone there are currently 368 homes for sale, 15 homes are coming up for sale, 567 homes are in escrow and 433 that have been sold this year compared to 369 sold last year at this time. That’s a 14.78% increase over last year!
What does all this mean? For one thing it means that despite COVID19, there are still opportunities for both buyers and sellers. In fact, for buyers, it is actually a great time to buy a home because interest rates are so low. In fact, with low interest rates it actually costs less to buy a home than it did a year ago before the current pandemic. And although no one knows how long interest rates will continue to be this low, savvy home buyers are taking advantage of this factor. Low inventory is also a plus for buyers. For sellers it is a great time because home prices are so high. Indeed, we have had multiple offers on every property we’ve put on the market in the last six months with only a few minor exceptions. In a nutshell, experts see a positive outlook for the Ventura County home buyers and sellers who are venturing into the market at this time.
By employing the right agent you can take advantage of the opportunities shown above either as a seller or buyer. As a Moorpark realtor, I can help you increase your chance of selling your home under your terms. I can also show buyers some the finest homes for sale in Ventura County.
