Home Sales activity in RiverPark has declined from the previous rolling 3 month period. We have seen a 19% decrease in the number of homes that have closed escrow compared to the previous rolling 3 month period. At the same time, we have seen inventory (the number of homes listed for sale) shrink around 64% over the last rolling 3 month period. Prices however, have increased with List Prices and Sold Prices moving up from the levels of the previous rolling 3 month period. The fact that we have higher Sold prices and less inventory for sale indicates that we are seeing a seasonal slow down in the local market as well as a modest increase in the median price aided by the sales of the new homes in The Axis and The District by Elacora. Sales of new homes in the new Shorewalk tract will also help property values in RiverPark.
Approximately, over the past rolling 3 Months:
Total# of Homes Sold (Closed Escrow): 36, compared to 44 during the previous rolling 3 month period
Total# of Active Listings For Sale: 18, compared to 50 during the previous rolling 3 month period
Median Sale Price: $383,500 compared to $359,250 during the previous rolling 3 month period
Median Sales Days On Market: 59 Days, compared to 54 days during the previous rolling 3 month period
Median List Price: $397,000, compared to $379,000 during the previous rolling 3 month period
*Sales Information is provided by the Ventura County Coastal Association of Realtors, Ventura County Regional Data Share (MLS)
The time a property spends on the market before it goes into escrow has increased from 54 days to 59 days over the past rolling 3 month period.
As long as interest rates remain close to historic lows and our local economy remains stable it would seem that it’s still 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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