Thousand Oaks, California is located in beautiful Ventura County and consists of a city-owned library, teen center, senior center, cultural center, and a quality infrastructure. The temperature is perfect all year round. Thousand Oaks is an ideal location, with an inviting climate, country setting, and attractive living conditions.
Ranked among the safest places to live in the United States, Thousand Oaks, Calif., enjoys additional appeal of great schools, clean air, planned development and over 14,000 square acres of “open space.” If you look at current Thousand Oaks real estate listings, low inventory, high demand and falling interest rates combine to cause properties to sell with multiple offers in a short time.
 |
||
| Population 117,005 | Median Age 37.7 yrs | Household Size: 2.75 |
| Avg Home Value: $324,800 | July High: 87.5°F | January Low: 39.7°F |
Thousand Oaks Real Estate Listings
The National Association of Realtors currently reports that Thousand Oaks real estate listings currently total 813 with the vast majority being homes (685). Available properties falling into the category of land or farms total 6.4 percent of the listings, and vary in price as much as in size. Starting at $45,000 for 0.12 acres, these listings can reach up to $54 million for 452.76 acres, and are scattered throughout the 54.9 square miles of Thousand Oaks.
Predominantly, however, current Thousand Oaks real estate listings are for single and multi family homes, condominiums and town homes, and mobile and manufactured homes. On average, theses homes carry price tags varying from the low to mid $200,000 range and up over $3 million. Estimates for 2005 home value appreciation is pegged at 10 to 15 percent – not the 25 to 35 percent of 2004. Especially note, after a decline in property values towards the tail-end of last year, prices and inventory in all price levels are picking up – especially with homes over $1 million. Thus, while the home values are not increasing at historic rates like in previous years, they are still appreciating at a hefty rate.
Listings for single family residences are especially strong. According the Multiple Listing Service, in May of 2005, single family homes listings totaled 400 and sold at an average price of $1.7 million. These homes offered buyers an average of 3,254 square feet and commonly saw around 43 days on the market.
Condominiums and town homes listings in Thousand Oaks have also been fairing well. Between January 1st and July 4th 2005, there were 82 new listings for these properties, bringing the total to 113. To date, 71 sales had been closed, selling with an average price tag of $420,900, achieving list price 98 percent of the time.
Now is the time to buy
If you want to buy or invest in Thousand Oaks real estate, now is the time to act. You have no real advantage to waiting, as prices continue to rise steadily and show no signs of reversal. Additionally, the interest rate has dipped back down to the mid 5 percent range and homes are therefore more affordable. A wealth of mortgage and loan programs should be another incentive to quickly bring you into this market. Additionally, if you’re looking to refinance or get equity, low interest rates and a strong Thousand Oaks market will benefit you.
Conclusion:
Buyers have many options in the Thousand Oaks real estate listings. Demand still places the market favor slightly for sellers; however buyers can see much more selection available as 2006 progresses. While appreciation may slow slightly as the year continues, all trends point upwards. If you see a property that interests you, think seriously about capitalizing.
By David Webster
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®