Ventura County saw a slight jump in the number of homes available for rent compared to March 2011. Rental Home inventory increased 15%. As of May 1st, 2011 there were 298 homes and condos available for rent compared to 255 last month. The avg. price of a rental property dropped from $2446 to $2406 in April. We expect to see the supply of rental properties continue to increase as we get closer to the peak summer season.
It is interesting to note though that the supply of properties in the East Ventura County Area (Thousand Oaks-Simi-Moorpark-Newbury Park) is still relatively strong. The East County continues to have a decent supply of homes. As of May 1st there are 138 properties for rent with an avg. Asking price of $2784. Simi Valley had a substantial increase of available properties, they added 11 units, but asking prices dropped substantially to $2750. The avg. price of a listed property in the East County was $2784 compared to $2604 for homes that were leased.