The supply of rental housing in Ventura/L.A. County has increased substantially over the last few months. The number of new units coming on the market is up over 100% from April to May (see chart) and a whopping 1000% from Jan 2009. We expect this to have an adverse effect on prices in the near term. The average price of an active rental listing is $2242.00 per month. Leased units averaged $2082.00 ($1.35 psqft ) thru May of 2009. The number on units leased per month has ranged from 242 in Jan to 272 in May. Comparing this data to 2008 numbers we have seen a significant decline in prices. In 2008 the avg. price was $2304.00 ($1.59 psqft) p/month, 10% higher than 2009. Prices are typically higher in the summer months as demand increases, but prices are still off 8% from the same periods last year. It is becoming increasingly important to price your property correctly and market as many places as possible. Our National Advertising campaigns are very succesful. The increasing supply is hurting rental rates. The lower rental figures could help to drag down home prices as investors will receive reduced returns on their investments, meaning they will pay less for homes. Click here for a complete market report on available and leased properties. We have rental data for the following cities, Thousand Oaks, Newbury Park, Camarillo, Westlake Village, Simi Valley, Moorpark, Oxnard, Ventura, Agoura Hills, and other areas.
Rental Housing Supply
Presidio Rental Solutions provides property management and leasing solutions in select Ventura County Cities.