Ojai Market Data

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.

 

Property AddressSales PriceOriginal List PriceSales to list price % (rounded)Days before 1st offer
1202 LOMA DR #458450084500126
1885 MARICOPA HWY #61500001950000.7781
1273 S RICE RD #881665001800000.922
29 KUNKLE ST5500005790000.9559
54 W CALLE EL PRADO5714005970000.96105
106 DESCANSO AVE5740006250000.92109
311 W SUMMER ST #B5850005940000.9820
165 CANTERBURY CT7250007390000.984
750 S RICE RD7250007499000.97117
4896 REEVES RD7850009490000.83134
1461-1463 ORCHARD DR86500086500013
602-606 E OJAI AVE100000010950000.9118
493 MONTANA CIR109000010990000.9939
1225 SHIPPEE LN140000014890000.94105
12284 LINDA FLORA DR182000022500000.81171
515 DEL ORO DR183150019500000.94101
1369 FOOTHILL RD194500024000000.81159
2310 LADERA RD210000028750000.7354
1747 MCNELL RD240000023000001.045
620 COUNTRY CLUB RD278700029500000.9416
Ojai Market Data – January, 2017 through January, 2018

ojai real estate

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)!