The Ventura County Rental Home market is off to a solid start in 2011. Owners are getting more for their properties as the supply is down and demand is solid. Tenants are being a little more selective and are demanding more from owners. Below is a brief overview of the first two months of 2011.
Rental prices are up slightly this year compared to the same period last year. We surveyed all rentals in the $1000-$6000 per month price range. The avg rent in Jan/Feb 2010 was $2075.00 for a 1600 square foot property. In 2011 the avg price has increased to $2193.00 per month for about the same size property. There were a total of 490 units leased during this period last year. There have been only 405 units leased this year. However it took on avg 43 days to lease a home vs. 56 in this same period last year
Currently there are 265 units available compared to 292 during this same period last year. The avg price of homes available is $2306 compared to $2443 this time last year. There is less supply and lower prices. But these listings are still active. Data also shows owners are getting lower security deposits. Some cities are showing considerable changes. Thousand Oaks for instance has 31 homes for rent with an avg price of $2617 compared to 24 and $2855 this time last year.
Presidio Real Estate services can help you lease your home quickly. Please contact us to learn more about our management and leasing options.