Ventura County Real Estate Projections 2021
Ventura County Real Estate Projections 2021
Ventura County is home to wonderful communities in cities like Camarillo, Simi Valley, and Newbury Park. The real estate industry in these areas has continued to recover in the wake of the COVID19 pandemic that almost entirely shut down the system around this time last year. Now, numbers have jumped back up, showing encouraging signs of growth.
As of January 2021 the median sale price of a single family home has risen to about $650,000 and has stayed steady since December 2020. The current market continues to favor sellers with most homes spending an average of 11 days on the housing market with many houses selling above listing price by 2-4%. Although the market may not be favoring most buyers now, those who are able to secure a house will benefit from the exceptionally low mortgage rates. Should they choose to commit to a 30 year fixed rate, they will likely reap the benefits in the future. The current average mortgage rate is about 2.74% which is down from January 2020’s rate of 3.33%.
Looking ahead, Ventura County Real Estate Projections 2021, it is worth noting that the number of homes predicted to come on the market is high. This is partially due to the announcement of the COVID19 vaccine becoming available to larger groups of the population. As people become more comfortable with living the new normal and vaccines continue to be administered, families who held off on selling their homes this time last year, are preparing to put their houses on the market. Generally the number of homes available peak in April and May. However spring and summer 2021 are expected to set new records in the number of houses sold. The median house price is then expected to continue to rise and expected to hit a peak of around $700,000 in July.
As the market continues to move upwards, it is still incredibly important to work with a real estate agent that you can trust to work on your behalf. For over 30 years we have been the top real estate agency in Ventura County and look forward to helping you navigate the market, whether you are a seller or a first time home buyer. See our website for Simi Valley homes for sale as well as Moorpark homes for sale.
