With the type of price increases we are seeing in the Camarillo area as well as the surrounding markets in the Conejo Valley and great Ventura County, it is bound to bring more Sellers to the market. The inventory levels are still very low as you will see from the chart below.
This chart shows Active Inventory based on the MLS compared to sales for the last 12 months of Single Family homes. Below $1,000,000 there is less than 1 month of inventory. This bodes well for Sellers of Camarillo property, but for some reason, many have not taken advantage of this opportunity. As we see more and more homes climb their way back into an equity position, we are sure to see more Sellers in this market. Once people realize that values have spiked again, you will have more homeowners begin to take advantage of the market shift back to a Sellers market. Take a look at the Median prices in Camarillo over the last 12 months.
Part of the reason for the price increases is the fact that few units are being sold. As you will see from the next chart below, over the last 3 months, the number of sales from $1,000,000 and below is on the decline. Some of this has to do with the lack of inventory, but I would also suggest that as prices continue to increase, the investor demand will begin, and has already, begun to wane.
Don't wait for this window to close if you are thinking about selling your home in the next 6 months, call me right away to take advantage of this market dynamics.
John Wise, Broker/Owner, 2ci Direct Real Estate Services
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