The price of a home in Ventura County stayed about flat over the past year, while the number of sales climbed dramatically, a positive sign for a real estate market that has been characterized for years by high prices and sluggish sales activity.
The median price of all existing single-family homes sold in Ventura County in March was $940,000, according to the latest data released by the California Association of Realtors. The median is the point at which half of the homes sold for more and half for less.
March’s median price was 2.4% higher than a year earlier, which is about the same as the rate of inflation over that period. Prices were down 3% from the previous month.
There were 297 sales of single-family homes in March, a 24% increase in a year and a 35% increase from the previous month. Because the real estate business is seasonal, with more sales and higher prices in the summer than the winter, year-to-year comparisons are the standard.
Still, the 35% month-to-month increase was the biggest gain in sales volume in two years. Sales volume in Ventura County has trended downward for most of the past four years as rising mortgage interest rates have discouraged both sellers and buyers.
The most expensive homes in Ventura County in March were in Ojai, which had a median sale price of $1.44 million. Oxnard had the lowest median price at $755,000.
Tony Biasotti is an investigative and watchdog reporter for the Ventura County Star. Reach him at [email protected]. This story was made possible by a grant from the Ventura County Community Foundation’s Fund to Support Local Journalism.
This article originally appeared on Ventura County Star: Ventura County home prices flat in March, but sales volume up
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