Ventura County Market Trends
Average Home Sale Price in Ventura County
March 2024 - $848,351 +$31,485 (+3.9%)
Skyrocketing interest rates through most of 2022 and 2023 put much-needed pressure on the housing market after home prices hit record highs nationwide. Rising mortgage rates have caused home values to stabilize or decline. Even so, many economists disagree about whether home prices will continue to dip throughout 2024. The housing market and general economy are fragile and volatile like never before.
With unstable economic factors, many people are hesitant to make significant changes in their lives at this time, which has reduced the nation’s overall housing supply. Tight inventory has kept prices from dropping substantially, making homes unaffordable for many, especially first-time homebuyers.
Yet, even though home prices remain high year-over-year (YOY), they’re not as eye-popping as they were in early 2022. But how far home prices dip in 2024 will likely depend on where how high mortgage rates go, inflation, and unemployment. With all that being said, some areas have still increased modest increases in home values in 2024.
Entry Level Homes
Ventura County Median Entry Level Price - $825,000 (Source: Rocket Homes)
Current Trends for Ventura County Show Now is a - SELLERS MARKET
There are several factors aside from the property itself that impacts it's value. The most common ones for an area are listed below. These components effect each levels different than one another
Factors that Impact Entry Level Home Prices as of Feb 2024
Current Overall Entry Level Trends for Ventura County
Up 6% From Last Year -Up 1% From 6mo
Current Interest National Rate & Weekly Trends
30 Year - 7.37% 30 (Up .11) - 15 Year - 6.61% (Up.13)
This has a major impact on this level
Ventura County Unemployment Rates 4.7%
Up .60 From Last Year - .0 Change From Last Month
This has a major impact on this level
Fuel Prices
Up 0% Year - Unchanged Last month
This has a major impact on this level
HOA Fees
Increase in HOA Fees range on average 10 to 15% from last year. Depending on local and insurance issues increases can be as much as 50% or more. Inflation plus earthquake and wildfires have increased insurance costs.
This has a major impact on this level
Foreclosure Rates are Increasing
Mid Level Homes
Ventura County Median Mid Level Price - $994,300 (Source: Rocket Homes)
Current Trends for Ventura County Show Now is a - SELLERS MARKET
There are several factors aside from the property itself that impacts it's value. The most common ones for an area are listed below. These components effect each levels different than one another
Factors that Impact Mid Level Home Prices as of Feb 2024
HOA Fees
Current Overall Mid Level Trends for Ventura County
Up 1% From Last Year -0% From 6mo
Current Interest National Rate & Weekly Trends
30 Year - 7.37% 30 (Up .11) - 15 Year - 6.61% (Up.13)
This has a major impact on this level
Ventura County Unemployment Rates 4.7%
Up .60 From Last Year - .0 Change From Last Month
This has a major impact on this level
Fuel Prices
Up 0% Year - Unchanged Last month
This has a minor impact on this level
Increase in HOA Fees range on average 10 to 15% from last year. Depending on local and insurance issues increases can be as much as 50% or more. Inflation plus earthquake and wildfires have increased insurance costs.
This has a major impact on this level
Custom / High Level Homes
Ventura County Median High Level Price - $1,300,000 (Source: Rocket Homes)
Current Trends for Ventura County Show Now is a - SELLERS MARKET
This has a average impact on this level
Factors that Impact Custom / High Level Home Prices as of Feb 2024
There are several factors aside from the property itself that impacts it's value. The most common ones for an area are listed below. These components effect each levels different than one another
Current Overall Custom / High Level Trends for Ventura County
Up 1.9% From Last Year -Down .3% From 6mo
Current Interest National Jumbo Loan Rate & Trends
30 Year - 7.29% 30 (Up 1.04)
Ventura County Unemployment Rates 4.7%
Up .60 From Last Year - .0 Change From Last Month
This has a average impact on this level
Fuel Prices
Up 0% Year - Unchanged Last month
This has a average impact on this level
HOA Fees
Increase in HOA Fees range on average 10 to 15% from last year. Depending on local and insurance issues increases can be as much as 50% or more. Inflation plus earthquake and wildfires have increased insurance costs.
A jumbo loan covers a loan amount that exceeds the Fannie Mae/Freddie Mac- designated loan limits.
Condo / Townhouse
Factors that Impact Condo / Townhouse Home Prices as of Feb 2024
There are several factors aside from the property itself that impacts it's value. The most common ones for an area are listed below. These components effect each levels different than one another
Current Overall Entry Level Trends for Ventura County
Up 2% change From Last Year - 0% From 6mo
Current Interest National Rate & Weekly Trends
30 Year - 7.37% 30 (Up .11) - 15 Year - 6.61% (Up.13)
This has a major impact on this level
Ventura County Unemployment Rates 4.7%
Up .60 From Last Year - .0 Change From Last Month
This has a major impact on this level
Fuel Prices
Up 0% Year - Unchanged Last month
This has a major impact on this level
HOA Fees
Increase in HOA Fees range on average 10 to 15% from last year. Depending on local and insurance issues increases can be as much as 50% or more. Inflation plus earthquake and wildfires have increased insurance costs.
This has a major impact on this level
Ventura County Median Condo/Townhouse Price - $549,000
Rental Prices
1 Br - Range $2,100 and $6,279
Rent Trends as of Feb 2024 by Rent Cafe.com
Current Overall Median Rent for Camarillo $2724
Studio - Range $2,078 to $4,323
2 Br - $2772 Range $2,100 and $6,479
1 Br - Range $669 and $5,615
Current Overall Median Rent for Simi Valley $2550
Studio - N/A
2 Br - Range $669 and $5,921
1 Br - Range $2,264 and $8,325
Current Overall Median Rent for Thousand Oaks $2,740
Studio - Range $2,030 and $6,778
2 Br - Range $2,536 and $10,758
Current Overall Median Rent for Ventura $2784
1 Br - Range $700 and $10,000
Current Overall Median Rent for Oxnard $2627
Studio Range $2,207 and $10,000
2 Br - Range $1,151 and $10,000
1 Br - Range $1,988 and $4,668
Studio - Range $1,195 and $3,570
2 Br - Range $1,000 and $5,438
3 Br - Range $2,245 and $6,069
3 Br - $2772 Range $2,620 and $8,452
3 Br - Range $2,463 and $6,883
3 Br - Range $3,120 and $10,425
3 Br - Range $1,151 and $4,500