Thursday, July 15, 2010

Ventura County June 2010 Home Sales

Dataquick reported home sales for Ventura County for June 2010 today. Home sales came in at 890 up 5.5% YoY. The median sales price came in at $384,000 up 5.20% YoY. Volume was stronger than I predicted at the beginning of the month, late reporters as a percentage of sales was much greater than normal. The possibility of the tax credit running out really caused quite a rush in closings. Rising median is due to mix shift due to the low end running out of inventory the most plus some seasonal strength in the mid-level houses as those sellers have been cutting price to compete for buyers. As far as sales volume this was the high water mark for the year, the question is just how far we fall from here.

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