COUNTY SEES 13.5% RISE IN HOME SALES.Byline: Christopher Noxon Daily News Staff Writer A healthy economy and confidence in the real estate market are credited for a 13.5 percent third-quarter increase in Ventura County home sales compared to the same period last year. A total of 2,612 homes were sold in the county during July, August and September compared with 2,301 in 1995, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Experian. The average price was $231,820, up slightly from the $230,710 average closing price a year ago. The figures continue a pattern of slow growth that has led the real estate market out of the doldrums doldrums (dŏl`drəmz) or equatorial belt of calms, area around the earth centered slightly north of the equator between the two belts of trade winds. of a year ago. Analysts say the latest increase is more of a reflection of the slow market of 1995 than a particularly brisk one today. Still, real estate agents say they are pleased with the gradual pace of the recovery. ``Slow and steady growth is the very best thing,'' said Chris McClintock, president of the Conejo Valley The Conejo Valley is a region spanning both Southeastern Ventura County and Northwest Los Angeles County in Southern California, United States. It was discovered in 1542 by Spanish explorer Juan Rodriguez Cabrillo, and eventually became part of the Rancho El Conejo land grant by Association of Realtors. ``When we've had runaway growth, we've always paid the price later on.'' Growth tapered off in Ventura County in September, with slight decreases in several individual cities. Experian, formerly TRW TRW The Real World (TV reality show) TRW The Right Way TRW Tactical Reconnaissance Wing TRW The Retriever Weekly (University of Maryland, Baltimore, MD) TRW Thompson Ramo Wooldridge Inc REDI Property Data, reported that 115 new and existing homes were sold in Simi Valley Simi Valley (sē`mē, sĭm`ē), city (1990 pop. 100,217), Ventura co., SW Calif. in an oil, fruit, and farm region; laid out 1887, inc. 1969. in September, down from 120 a year ago. In Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. , home sales fell from 143 to 117 this year. Home sales edged upward from 45 to 48 in Moorpark and from 25 to 30 in Camarillo. Across the state, the story of gradual recovery was much the same in the third quarter. The largest gain was recorded in Orange County, where sales increased by 19 percent. Growth was slowest in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County, which posted an 8 percent gain. But sales are still down compared with 1994 and about 40 percent below the rates achieved during the boom years of the late 1980s, said Experian market research analyst Nima Nattagh. ``The market continues to improve, but the caveat is that we're still coming out of a year that was not particularly good,'' Nattagh said. Nattagh said the recovery will not be complete until property values stop their continuing decline. While the values of higher-priced homes have stabilized, overall values continue to slip, he said. ``We still see a continuing softness on values,'' he said. ``From the point of view of an existing homeowner, it shows that the market can still be dangerous. But from the point of view of a first-time home buyer, it means there's more affordability.'' Real estate agents in Ventura say they expect to see a significant jump in home sales next year, with market activity spurred by the completion of new housing projects and predicted cuts in capital gains taxes. ``I don't have any doubt that 1997 will be an incredible year for real estate,'' said Ken Heller, a real estate agent for Coldwell Banker in Westlake Village. ``Attitude is everything and people really feel confident again.'' But there is a downside to all the activity, Heller said. ``I see new projects breaking ground every day - I fear in the next five to ten years we're going to be overrun like the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. ,'' he said. ``It's good for business, but I kind of hate to lose the rural feeling we have out here.'' HOME SALES Home sales increased by 13.5 percent in Ventura County during the third quarter of 1996 compared to the same period last year. The highest increase in sales for the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, area was in Orange County which reported an increase of almost 20 percent. County 1995 1996 Change Ventura 2,301 2,612 13.5 % Los Angeles 20,315 21,935 8.0 % Orange 7,943 9,452 19.0 % Riverside5,707 6,492 13.8 % San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. 5,713 6,224 8.9 % San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. 6,834 7,897 15.6 % CAPTION(S): Chart Chart: HOME SALES (see text) |
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