Home Sales activity in RiverPark has accelerated from the previous 3 month period. We have seen a 79% increase in the number of homes that have closed escrow compared to the previous 3 month period. At the same time, we have seen inventory (the number of homes listed for sale) shrink around 20% over the last 3 month period. Prices however, have remained stable with List Prices and Sold Prices staying at pretty much the same levels as the previous 3 months.
Approximately, over the past 3 Months:
Total# of Homes Sold (Closed Escrow): 34, compared to 19 during the previous 3 month period
Total# of Active Listings For Sale: 27, compared to 34 during the previous 3 month period
Median Sale Price: $359,950 compared to $360,000 during the previous 3 month period
Median Sales Days On Market: 52 Days, compared to 53 days during the previous 3 month period
Median List Price: $369,000, compared to $369,999 during the previous 3 month period
*Sales Information is provided by the Ventura County Coastal Association of Realtors, Ventura County Regional Data Share (MLS)
The increase in sales activity, coupled with the extremely modest decrease in List and Sale Prices can be attributed to the increase of less expensive townhomes and condos coming into the market. The time a property spends on the market before it goes into escrow has decreased from 53 days to 52 days.
As long as interest rates remain close to their present levels and our local economy remain stable it appears that this is one of those markets where it’s a great time to buy, and a great time to sell and upgrade.
Watch this short video to see how RiverPark compares to the nation.
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