2023 Oxnard Housing Market Trends and Forecast

December 07,2022 | Posted By Arlene Beckwith in Real Estate
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There are many reasons and aspects to consider when investing in the Oxnard real estate market. Before that, you should be able to make a sound decision based on whether it forms part of the hottest market for real estate investors in Southern California in 2023. Below are the Oxnard real estate trends and forecasts for 2023.

 

Oxnard, CA Housing Market

Should you consider Oxnard for a real estate investment? It would be best to dig deeper into local trends to know what the market holds for Oxnard real estate investors and buyers in 2023. Here, we have collected valuable information for those keen to invest in the Oxnard real estate market.

Arlene & Keith Beckwith are renowned real estate agents who are experts in the local Oxnard housing market. Here, we present a brief compilation of current real estate trends and a forecast for 2023 for the Oxnard housing market. Our research analysts calculate the market statistics from various reliable sources to keep you updated with the trends in the Oxnard housing market.

Oxnard, CA Real Estate Overview

To begin with, the median value for a home in Oxnard, estimated by Redfin, is $685K, while the median listing home price is $759.9K. The cost of homes in Oxnard is up 7.6% compared to last year, and the median listing home price per square foot for a home in Oxnard is estimated to be an average of $450.

Oxnard, California, was a seller’s market in October 2022, which means that more people are looking to buy than homes are available. Oxnard is a somewhat competitive housing market where it only takes an average of 53 days for homes to sell in the Oxnard housing market. Many single-family homes, foreclosures, and new home communities are available for sale.

Oxnard has a mixture of owner-occupied and renter-occupied housing. The housing stock comprises 51,460 total units, 27,631 of which are owner-occupied and 23,829 renter-occupied units. An estimated out of the 241 homes listed for sale, of which only two are in the process of foreclosure.

Some of the best neighborhoods in or around Oxnard, California, are Oxnard Shores, Channel Islands, and South Bank. You can also check out Mandalay Bay homes for sale if you’re looking for a beachfront luxury home.

Where Does the Oxnard, CA Housing Market Currently Stand as of October 2022?

Although there has been a steady home price growth in Oxnard from 2014 to 2022, the housing market did cool off from May 2022 till October 2022. Despite having a median listing home price of $759.9K in October 2022, the median home sold price was $685K.

There are 241 listings in Oxnard, CA, ranging from $159.8K to $18.5M, with an estimated median home value of $750000.

  • Median Listing Home Price $759.9K
  • Median Listing Home Price/Sq Ft. $450
  • Median Sold Home Price $685K
  • Sales to list price ratio 100%

There aren’t nearly enough listings on the Oxnard home market to satisfy buyers’ current demand. The Oxnard market is so hot that it doesn’t seem like it will shift to a buyer’s market anytime soon.

Oxnard Housing Market in 2022-2023

Oxnard is an ideal neighborhood for home buyers who can afford a home in the median listing home price range of $759.9K. You can consider homes in popular areas around Oxnard if this price doesn’t match your budget.

Oxnard Housing Market Trends in 2022-2023

Short-term investors in the real estate market have made a considerable fortune in Santa Fe for the last year owing to these enticing appreciation rates.

Over the past four years, the real estate prices in Oxnard have been in a bullish cycle and purchasing a house in Oxnard in 2022 and 2023 forecasts to be an excellent addition to your property investment portfolio. Based on our forecasts, you can expect a long-term increase in Oxnard home prices. However, it doesn’t look too promising for short-term investors.

The housing market in the United States, notably in Southern California, has been impacted directly due to rising mortgage rates. As a result of the decline in sales and increase in inventory, a growing number of potential buyers and sellers are wondering whether or not home prices will fall in 2023. According to some experts, the prices of Oxnard beachfront homes will fall next year, partly due to the increasingly expected recession.

Oxnard Property Types

  • Oxnard Single-Family Homes
  • Oxnard Condos for Sale
  • Oxnard Rentals
  • Oxnard Mobile Homes
  • Oxnard Land for Sale
  • Oxnard New Homes for Sale

Future Predictions of the Oxnard Market

Are you considering buying a home in the Oxnard housing market? Let us get you up-to-date with future pricing trends.

What are the Oxnard real estate market predictions for 2022? Let’s look at the price trends recorded over the past few years. Based on the Zillow Home Value Index, Oxnard home values have increased nearly 178% over the past eight years. The typical home value of homes in Oxnard is $705,640 (a 7.6% increase over the past year), according to the ZHVI calculation.

Due to a lack of inventory, Oxnard is still a seller’s market, and we can expect prices to keep climbing due to the imbalance in supply and demand. However, the increased mortgage rates will likely slow the surge in prices. While the real estate prices in Oxnard have been in a bullish cycle over the past four years, we predict a positive trend soon, and purchasing an Oxnard beach home in 2023 would be an excellent addition to your property investment portfolio.

Best Neighborhoods in Oxnard, Oxnard, CA for Real Estate Investment

If you have plans to acquire real estate in Oxnard, you should learn about the best locations to invest in.

Buy the Best Homes for Sale in Oxnard, CA

Are you considering moving to Oxnard? This picturesque seaside city set by the Pacific, 60 miles west of Los Angeles, is one of the best places to call home!

An extensive assortment of beachfront homes affords breathtaking views. Life in Oxnard is peaceful here without being too isolating. You’ve got access to various outdoor pursuits and all the modern conveniences you need. The location itself is, without a doubt, one of California’s most well-kept secrets. The proximity of Oxnard to Los Angeles, Santa Barbara, and several other excellent communities makes it a perfect location!

Arlene & Keith Beckwith are local Oxnard real estate agents who are skilled professionals with insightful local knowledge and extensive expertise in Oxnard, CA, real estate. Arlene & Keith’s dedication to high-quality service, combined with one-of-a-kind resources and reputation, are powerful advantages that can help you successfully navigate the Oxnard real estate market.

We’re a team of Oxnard realtors with over 88 years of combined experience, and we’re here to ensure that things run smoothly. Together, we can find your dream luxury home in Oxnard!

Do you have any questions? Contact our team directly at (805) 338-4466.