Note: Some of the links in the table below may take you to a blank page with the verbiage, “This is not a valid link.” These links have expired from the Ventura MLS and are no longer accessible. Ojai MLS links are not affected in this way.
February 2, 2018
Here’s your Ojai Market Data for the past month (data from 1/1/18 through 1/31/18):
- 40 new listings came on the market; 11 of these new listings are either pending sales or have already closed. Last month we saw 11 new listings come on the market; 2 of them were pending or closed sales as of the date of our update.
- 20 properties sold and closed (23 last month) – at an average of 91.95% of the original listing price when the property first came on the market (this figure was 95.91% last month). Of the 20 properties that sold, 2 offers were at full price and 1 offer was over full price (last month there were 4 full price offers and 2 over full price).
- The average listing was on the market for 66 days before first receiving an offer.
Note: The idea behind this last statistic is to give you an idea as to how fast the market is moving. We’ve changed this field on the chart from “Days on the market” to “Days before 1st offer” this month (and hereafter) because the Days On Market field is too unreliable (we’ve gone back and forth on this before). If an offer is received on a property and the agent marks the listing as “Contingent” in the MLS, the Days On Market figure keeps rising until they change it in the MLS to “Pending.” (This would typically be changed once contingencies of the sale are released, such as the loan or inspection contingencies.) The trouble is, many agents forget to change the listing to “Pending” until the day it actually closes, which can really skewer the numbers. We’ve removed the old “Days On Market” numbers for 2017 on the graph below, starting anew with January, 2018.
There are currently 125 active listings on the market, not including properties currently listed as pending sales. (There were 118 active listings last month.) Here’s how those listings break down:
- 75 residential listings
- 22 land listings
- 7 commercial listings
- 12 mobile home listings
- 1 residential income listing
- 4 residential condo listings
- 1 residential/commercial listing
- 3 business opportunities
Ojai sales-to-list price percentages, 1/1/18 through 1/31/18
Here’s the list of the 20 properties that sold and closed last month, including the original list price (when each property first came on the market), the final sales price, and the sales-to-list price percentage.
Ojai Market Data – January, 2017 through January, 2018
The year started off with a bang, with 40 new listings on the market. There are still a ton of buyers out there looking for homes (especially in the $500,000 to $700,000 range). However, we’ve noticed that interest rates are starting to creep up. We’re at 4.5% as of the day of this update and we’ll likely see 5% within a few months. There are going to be a lot of buyers looking to get into Ojai real estate before the rates get much higher. If you’re pondering selling, get moving now before the usual spring rush (March/April)!