Camarillo CA Real Estate Daily/Monthly Market Trends

By
Real Estate Agent with Team VC Online, Keller Williams Realty

CAMARILLO MARKET TRENDS
 

3 New Homes Listed for Sale Today in Camarillo
2189 Brookhill Dr7+33,091 sf$685,000 
385 Mesa Drive4+32,500 sf$769,900 
5353 North St (Somis)3+1.51,286 sf$424,900
This could be your home...Call orEmail meToday!!


♦ Quick Stats ACTIVE Camarillo Homes for Sale Updated Daily ♦ 
Find 0474 Camarillo Home listings, last updated Friday Evening, December 21st
AVERAGE ~ Price: $843,449 ~ Size: 2,277 sf ~ Days on Market: 109
MEDIAN ~ Price: $589,000 ~ Size: 1,799 sf  ~ Days on Market: 93
Highest Priced Listing: $6,500,000. (Crestline Dr.)
Lowest Priced Listing: $259,000. (Leisure Village 2+2)

 ♦♦ Quick Stats SOLD Listings ♦
Camarillo Median Home Sales Recorded in May-October 2007
Reporting resale single family residences and condos as well as new homes
(% Change is from the same month last year)

Month / # Homes SoldYear 2006 MedianYear 2007 Median% of Change
May / 104$651,000$550,250   -15.48%
June / 108$630,000$551,750   -12.42%
July / 081$677,500$543,000   -19.85%
August / 071    $617,500       $540,000            -12.55%
September / 056    $597,500       $560,000            -6.28%
October / 058   $610,000        $542,500            -11.07%

See all Camarillo CA Real Estate Listings at www.FindCamarilloHomes.com

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Rainer
85,900
Carol Williams
Nationwide: Self-employed Real Estate Copywriter, Blogger, Photographer and Real Estate Mentor - Wenatchee, WA
Wenatchee Real Estate
Barry,  What is your overall impression of your local market... short term and long term prognosis?
Dec 22, 2007 12:48 AM #1
Rainmaker
159,780
Lupe Soto
Equistar Realty Group - Burbank, CA
Lupe Soto GLOBAL Real Estate Agent International.

 

Barry, your post is very informative. Happy Holidays.

Dec 22, 2007 12:51 AM #2
Rainmaker
63,398
Barry Shapiro
Team VC Online, Keller Williams Realty - Camarillo, CA

Thank you for asking, Carol.  Short Term, we are seeing 1 in 10 homes selling in any given month.  What that means for a seller, is that they must be "Best in Class" in both condition and price.  I have listing contracts on several properties which the sellers have agreed to keep off the MLS until next year.  So far, as I review the data every day, and post it to my website, www.FindCamarilloHomes.com , it has been a strategic approach to keeping their listing "fresh" into January.  I am planning an all-out marketing effort on these homes, including flyers (email and hard copy), broker opens and open houses early next year.  In the meantime, the sellers are de-cluttering, painting and doing the last-minute fix-ups (inside and out) to make their best "first impression"...

Long term, I see declines in local values to continue at 1% per month -- until the scales balance out to prices close to levels we saw in summer 2003.  Since the demand for homes is still there -- it is only hybernating -- waiting for lower prices or more correctly, more AFFORDABLE homes.

Once Camarillo home prices reach the level where home buyers feel they are AFFORDABLE again, the local market will stabilize.  The buyers I am working with right now expect a 15-20% reduction in their offering price when compared with a home listed today at "market" value.  Short sales account for 15% of our listings and the foreclosures amount to apx. 10%.

 

Dec 22, 2007 01:07 AM #3
Rainmaker
63,398
Barry Shapiro
Team VC Online, Keller Williams Realty - Camarillo, CA
Thank you -- Same to you, Lupe!!
Dec 22, 2007 01:08 AM #4
Rainer
85,900
Carol Williams
Nationwide: Self-employed Real Estate Copywriter, Blogger, Photographer and Real Estate Mentor - Wenatchee, WA
Wenatchee Real Estate
Barry,  Thanks for the analysis.  I had a cousin who sold there about a year ago.  He had to discount to sell, but sounds like prices have come down further.  Happy Holidays and good luck in the new year!
Dec 22, 2007 08:35 PM #5
Rainer
85,131
Lance Winslow
The Car Wash Guy - Malibu, CA
Wow, prices have really come down their in Camarillo, nice town actually, it has been growing up lately I here.
Dec 23, 2007 03:47 AM #6
Rainmaker
63,398
Barry Shapiro
Team VC Online, Keller Williams Realty - Camarillo, CA
Thank you, Lance, for your input. So many sellers in Camarillo claim to be motivated -- yet, when presented with an offer for their home of 10-15% below market, they tend to turn it down.  Unfortunately for most sellers, they will be lucky to sell their home at all.  Only about 10% of all Camarillo Homes for Sale will sell in any given month.  That means 90% of listed Camarillo Real Estate is "out of the market"...
Dec 23, 2007 11:55 AM #7
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Barry Shapiro

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