August Ventura County Real Estate Market Update
August sure was an interesting month for home sales in Ventura County. There’s a pandemic, but you wouldn’t know it by Southern California’s home prices that are at record levels. Home buying has surged as the interest rates have plunged, with an average rate on a 30-year fixed-rate mortgage now below 3% with some borrowers.
Here is August’s market recap of Ventura County:
With 333 properties on the market, August’s inventory was pretty low compared to last year, but it’s not surprising because that’s consistent with previous months due to the COVID 19 pandemic still going strong.
We have 19 more properties in the pipeline, which is great because agents are using the “coming soon” features which gives home buyers the opportunity to view properties online before they come on the market.
There were 264 properties that went into escrow.
411 sold in the month of August. Last year at this time there were 382 sold homes, which is interesting because even though there is less inventory this year, there were more sales due to homes not sitting on the market. Most properties that are listed are sold within 24 – 48 hours with multiple offers.
Pool homes are in demand right now since families aren’t going on vacations, they’re relying more on the fun to be had in their own backyards. These homes are a great fit for a lot of families so you will get more of a premium now than you would have a year ago. Regardless if your home has a pool or not, because of the lack of inventory and low interest rates, now is a great time to be selling if you’re thinking of doing so.
Overall, the August Ventura County Real Estate Market Update shows that the market is strong and we foresee it staying that way. If you’re looking to sell your home, there’s no better time than now!