In January, Leslie and I sensed there weren’t as many homes for sale in Ventura – more of an anecdotal feeling than scientific analysis. I remember checking in late January that there were 200 single family homes for sale in Ventura (Realtors call it Area 20 in the MLS – not to be confused with Area 51 in Nevada…!). Then in mid-February I decided to formally check and track inventory levels for Ventura, Oxnard and Camarillo. Here’s what I found.This Ventura | Oxnard | Camarillo inventory level pdf file shows just how substantially the number of homes for sale have fallen off in just the last 7 weeks.

For Ventura, from 200 homes in late January down to 130 today is a 35% drop.

For Oxnard, in 7 weeks, there generally was a 25% reduction in inventory for both single family homes and condos.

In Camarillo, while inventory for SFR is up, condo inventory is down about 35%.

What does this all mean? Normally, in a supply and demand economy, reduced supply generally means prices will go…?