If we take a look at Ventura County as a whole, in December 2018, we had 2,491 listings; last year, we had 2,179 listings. That means inventory in Ventura County increased 14%. Pending listings for this December have been counted at 465, whereas last year, there were 618 pending listings—this is a 24% drop year over year. Additionally, the median home price in Ventura Country dropped from $599,000 last year to $585,000 this year—a 2% decrease.
 

Now let’s look at specific markets within Ventura County:

  • Oxnard: Here, there was a 10% increase in inventory and a 17% decrease in demand year over year. The change in inventory and demand in Oxnard wasn’t as high as Ventura County as a whole, but the median home price dropped from $530,000 last year to $506,000, constituting a 4% drop.

  • Camarillo: Inventory in Camarillo increased by 37%, going from 354 properties last December to 391 this year, and pending listings decreased by 22%. The median home price went from $613,000 last year to $575,000—roughly a 6% drop.

  • Simi Valley: Inventory increased by 26%, and pendings dropped 32%. 

For these markets, we’re noticing the same trends: Inventory is increasing and demand is decreasing. This is creating a gap in the marketplace that's leading to frustration for some homeowners, as homes are staying on the market a little longer than they used to.

For Ventura County as a whole, there are 247 active homes, which is a drop from last year’s 280. So here, inventory actually decreased 11%. Here’s the catch: Just like the individual cities, demand in Ventura County also decreased by 26%, going from 95 pendings in December 2017 to 70 pendings in December 2018. Unlike some of the individual markets, however, the median price actually went up by 7%.
 

In a nutshell, inventory has grown overall in most of the cities in Ventura County, and demand has decreased, causing downward pressure because there are fewer buyers and more competition for homes.
 

If you are looking to find out what is going on in your specific area market, reach out to us. I’ve got the stats for every single city and we’re happy to share those numbers with you with no obligations attached. I’m here to help.