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.
September 1, 2017
Here’s your Ojai Market Data for the past month (data from 8/1/17 through 8/31/17):
- 29 new listings came on the market; 7 of these new listings are either pending sales or have already closed. Last month we saw 31 new listings come on the market; 8 of them were pending or closed sales as of the date of our update.
- 33 properties sold and closed (38 last month) – at an average of 95.09% of the original listing price when the property first came on the market (this figure was 94.82% last month). Of the 33 properties that sold, 2 offers were at full price and 4 offers were over full price (last month there were 3 full price offers and 3 over full price).
- The average listing was on the market for 147 days (129 days last month).
There are currently 152 active listings on the market, not including properties currently listed as pending sales. (There were 147 active listings last month.)
Ojai sales-to-list price percentages, 8/1/17 through 8/31/17
Here’s the list of the 33 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 – August, 2016 through August, 2017
Inventory remains consistent at 152 active listings – a number that hasn’t wavered higher than 155 or lower than 147 over the last 4 months.
We feel like the “boy who cried wolf” here, but every projection we’re seeing is pointing to a downward adjustment in the real estate market. Although the market remains strong (despite the continuing lack of inventory in Ojai) there a familiar tapping on the shoulder from the past. Buyers are still willing and wanting to purchase homes, however they continue to push back a bit as far as pricing. If a home is priced well a seller might expect to obtain their listed price, or slightly above. However, if a seller is reaching a bit too far – buyers recognize that and those homes end up with no offers, or low offers in the end, pushing pricing back down ever so slowly and gently.
Income qualifications remain stringent, therefore, as prices have increased many buyers have been forced to lower their buying power and expectations. This in turn has buyers questioning the market’s longevity in maintaining a continued increase in value. In the end we think we might see a leveling off, or slight lowering on pricing over the next several months.