September has been super busy, what with the drop in interest rates, lots of REO properties coming on the market – buyers seem to be coming out of the woodwork. Here are the numbers for the August pending sales.

“Pendings” are homes that have just gone into escrow. A buyer and seller have agreed to terms, and the buyer has put hard cash (the security deposit) into escrow. We track pendings as a leading indicator of real estate activity.

August shows TWICE the number of pendings for Ventura compared to 2007. Oxnard had 4 TIMES the number of pendings compared to last year, and even Camarillo had more pendings than last year.

Here are the statistics for the month of July. This shows the asking price, sold price, and days on the market for the cities of Ventura, Oxnard and Camarillo. The number of homes sold in Camarillo and Oxnard have increased Read the rest of this article »

Here are the sold statistics for the month of June. This shows the asking price, sold price, and days on the market for the cities of Ventura, Oxnard and Camarillo. In comparing the three cities and the price/square foot, Camarillo remains relatively unchanged from May while Oxnard and Ventura prices are still on a slight downward trend. Do not read too much into this snap shot of the real estate market, because often times the data sampling isn’t large enough to be thoroughly accurate. A more accurate indication is to study the trends from January this year and you can do so by clicking on the category to the right “Homes Sold-Statistics”.

This comparison is of the price per square foot for homes that closed escrow in the three cities of Camarillo, Oxnard, and Ventura for the month of May. For single family homes, the trend is mostly downward depending on the size of the home. The larger homes in Camarillo showed an increase in $/Sq.Ft. Condominiums in Oxnard also showed an increase in $/Sq.Ft. while Camarillo and Ventura were downward.

The May pending numbers are in for Camarillo, Ventura and Oxnard. Camarillo continues on about the same as in May 2007 but Oxnard continues to be white hot in homes that are in escrow! Ventura is seeing a fair spike in activity.

The National Association of Realtors came out with this statement today:

“PENDING HOME SALES UP 6.3 PERCENT IN APRIL
The number of pending sales contracts for existing homes rose 6.3 percent in April, according to the latest Pending Homes Sales Index from NAR. The Index rose to 88.2 in April, up from 83 in March.

’Pending sales contracts have picked up notably in areas undergoing significant price drops,” said Lawrence Yun, NAR chief economist “Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it’s unclear if they are investors or owner-occupants.’”