SIMI VALLEY : January Home Sales Mirror County Jump

Home sales in Simi Valley increased at nearly the same surprisingly high rate as the rest of the county in January, the Simi Valley-Moorpark Assn. of Realtors reported Wednesday.

Ninety homes closed escrow in January, 11 more than were sold during the same period last year. The 14% increase mirrored the 17% jump the rest of the county reported for January.

“After seven increases in interest rates during the 1994, the last thing I expected was strong housing activity in January, which typically is a slow month for housing,” said Shannon Wolf, president of the association.

The average Simi Valley home sold for $231,093 in January, an increase of nearly $12,000.

But economists have said the surprising increase in homes sold and the jump in average prices are probably an aberration. They have predicted more modest gains in the number of homes sold this year while predicting prices will remain soft throughout the county.

Indeed, the price of homes sold in Simi Valley over the six months ending Feb. 10 averaged $198,752, a drop of 4.2% from the same six-month period the previous year.