LOCAL REAL ESTATE MARKET INSIGHTS
OXNARD VS. VENTURA COUNTY: THE Q1 RECAP
The Oxnard housing market remained active in Q1, with 159 sales and 211 listings. Homes sold in an average of 49 days, with a median sale price of $769,000, showing steady demand. Sellers received nearly full asking price, with properties priced correctly moving quickly—63% of homes sold within 30 days.
Compared to Ventura County, Oxnard remains one of the more affordable options, with the county’s median sale price reaching $860,000 and an average price of $1,092,176. Homes across the county took longer to sell, averaging 53 days on the market. While price reductions in Ventura County averaged 3.47%, Oxnard saw a slightly smaller decrease of 2.8%, reflecting its strong demand. Sellers are still achieving close to asking prices, with Ventura County homes selling at 99.44% of their list price. With its competitive pricing and coastal appeal, Oxnard continues to be a prime choice for buyers looking in Ventura County.
SEA VIEW ESTATES HIGHLIGHTS
Sea View Estates experienced an encouraging first quarter. With three closed sales and four active listings, the neighborhood continues to be a sought-after community. Homes sold within an average of 32 days, achieving nearly full asking price. The average sale price was $748,500, with a high of $875,000. While some price adjustments occurred, they remained minimal, reinforcing the market’s stability. For buyers, opportunities remain to find well-priced homes, and for sellers, demand remains high.
US HOUSING MARKET & ECONOMIC OPPORTUNTIES
US HOUSING MARKET AND FORECAST:
The US housing market continues to show resilience despite shifting economic conditions. Existing home sales started the year rising 2% in January, marking four consecutive months of increased sales. While home prices have climbed—up 4.8% from January 2024, buyers are beginning to see more options, thanks to rising inventory levels.
Looking ahead, experts predict moderate growth for the housing market. Zillow forecasts a slight 0.9% increase in home values. This is encouraging news for buyers who have faced limited options and intense competition in recent years. However, home prices will still be shaped by local demand, meaning areas with strong job markets, growing populations, and limited housing supply—like much of California—will likely remain competitive.
FEDERAL RESERVE AND INTEREST RATES
The Federal Reserve will play a key role in shaping market conditions throughout 2025. After cutting rates in December 2024, the Fed is expected to hold rates steady for the first half of 2025, with the first potential rate cut projected for June. While mortgage rates are expected to decline slightly—from an average of 6.6% in 2024 to around 5.9%—the Fed has made it clear future decisions will depend heavily on economic data, including inflation levels and job market strength. For buyers, this means mortgage rates may gradually improve, but are unlikely to return to historic lows seen in recent years.
ECONOMIC OPPORTUNITIES
While the residential market remains a focal point, economic opportunities extend beyond single-family homes. The industrial real estate sector continues to benefit from e-commerce demand. For those exploring investment opportunities, more affordable metro areas—like Indianapolis, Kansas City, and Providence—are emerging as attractive alternatives to traditionally expensive markets. Ultimately, the 2025 housing market will be shaped by a mix of economic conditions, government policy, and consumer confidence. For homeowners considering selling, rising inventory means more competition, so proper pricing and preparation will be critical. For renters considering buying, improving mortgage rates and a slight cooling of home price growth could create a window of opportunity.
COMMUNITY CORNER
LOCAL UPDATES
CHANGES TO HOMEOWNER’S INSURANCE REGULATIONS
California has implemented a series of reforms designed to encourage insurance companies to return to California and expand coverage options. Insurers are now allowed to factor in their own reinsurance costs when determining rates. In addition, companies can begin using forward-looking wildfire risk models to assess risks more accurately. These updates aim to increase the number of insurers willing to offer coverage in Ventura County and other high-risk areas.
While these changes are designed to stabilize the market, premiums are expected to increase for many, and it may take until mid-to-late 2025 before homeowners see meaningful improvements in coverage and pricing. In the interim, some property owners may need to turn to the California FAIR Plan, which serves as a safety net for homeowners unable to obtain traditional insurance coverage. The FAIR Plan has recently expanded its coverage limits and improved payment options, but generally provides less protection at a higher cost.
Homeowners can take proactive steps to improve their property's fire resilience, which may help lower insurance costs. Adding firesafe features like defensible space, fire-resistant landscaping, and upgraded materials can qualify homeowners for discounts. Becoming part of a recognized Firewise community can also lead to potential premium reductions, and Ventura County now has 21 such communities, up from two in recent years.These insurance changes are likely to impact nearly every homeowner in Ventura County. Staying informed and taking action can make a difference securing better coverage and controlling costs. If you have any questions or need guidance, I am always available to help you navigate these changes.
LOCAL BUSINESS SPOTLIGHT
IMMIGRANT SON CAFFÉ
Oxnard's newest hotspot, is quickly becoming a neighborhood favorite. Located in the Collection, this eatery blends traditional Italian flavors with inventive American breakfast and lunch fare, creating a dining experience that feels both modern and nostalgic. The restaurant first gained a loyal following at its original location in downtown Ventura, and now its Oxnard outpost is earning rave reviews from locals eager for a fresh brunch destination. Stepping into Immigrant Son Caffe feels like entering a rustic-chic Italian retreat. The cozy atmosphere features warm wood tones, thoughtfully curated decor, and a welcoming patio for outdoor dining. The menu is a creative blend of comforting classics and bold new twists. Standout dishes include the signature Breakfast Lasagna, as well as innovative takes on Eggs Benedict and the indulgent Breakfast Carbonara.
LET'S CONNECT!
I absolutely loved hearing from you after the last edition— your feedback and ideas truly make this a community effort. I'd love to keep that conversation going! If there's something you enjoyed, a topic you'd like me to cover next time, or a local event or small business you'd like me to feature, please reach out and let me know. I'm all about supporting the incredible businesses and people who make Oxnard shine. If you're curious about your home's value or would like to create a personalized homebuying plan, I'm here for that too. The heart of this newsletter is you, and I'm excited to keep growing it together. Let's make this a place where we can celebrate local life, share valuable insights, and stay connected as neighbors.
AlmaOnTheCoast
Alma On The Coast
Alma Thogerson
