Note: Some of the links 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.
Tuesday, February 28, 2023
10:50 a.m.
There is a new listing on the market:
11578 Oakcrest Avenue – $1,450,000
Pic of the Day
Monday, February 27, 2023
12:30 p.m.
Since it’s still raining as I write this, I’m going to give you the official rain totals when we have a break in the rain. But unofficially, I can tell you that we received at least six inches of rain since 2/22/23, which puts us at around 33 inches of rain for the season (the historical norm is around 21 inches).
In addition, Lake Casitas took a jump from 45.2% capacity to 48.1%. I don’t have historical data that goes back any further than May of 2020 for the lake level, but I would guess that the lake is now at the highest it’s been in probably 8 years….maybe 9 or 10.
There are three new or “coming soon” listings on the market:
12096 Linda Flora Drive – $750,000 (land parcel)
35 Monte Via – $789,000 (coming soon, 3/4)
Pic(s) of the Day
Many photos of the snow-covered Topa Topas – taken from the valley floor – have made their way to social media. BORING. (Kidding!) A friend of mine who was “in the thick of it” took photos from his abode about 30 minutes north of Ojai on the 33. He estimates that he received about 18″ of snow! Caltrans apparently wasn’t plowing any further north than Rose Valley Road, so the 33 was pretty much impassable. Thanks, LD!
Friday, February 24, 2023
10:05 a.m.
There are two new listings on the market:
1227 Cruzero Street – $850,000
610 N. Blanche Street – $998,000
We’ve received 1.62 inches of rain thus far (based on my weather station only). I’ll give you rainfall totals on Monday after this storm has passed. Here’s the list of things to do in Ojai!
Pic of the Day
Thursday, February 23, 2023
9:45 a.m.
There are no new listings for today.
Pic of the Day
Wednesday, February 22, 2023
10:20 a.m.
There is a new listing on the market:
448 Mountain View Avenue – $424,990
Prior “coming soon” listings now on the market:
Pic of the Day
Tuesday, February 21, 2023
10:35 a.m.
Two new listings have come to the market since last Friday:
615 Crestview Drive – $1,795,000
Pic of the Day
Friday, February 17, 2023
1:35 p.m.
There are four new or “coming soon” listings on the market:
1080 Serenidad Place – $1,550,000
1225 S. Rice Road #51 – $389,000
11995 Awhai Ranch Road – $11,500,000 (coming soon 2/22)
Here’s the list of things to do in Ojai; have a great weekend!
Pic of the Day
Thursday, February 16, 2023
11:35 a.m.
There are two new or “coming soon” listings on the market:
952 E. Ojai Avenue – $2,500,000
1990 Valley Meadow Drive – $1,450,000 (coming soon, 3/1)
Prior “coming soon” listings now on the market:
Pic of the Day
Wednesday, February 15, 2023
10:45 a.m.
There are four new or “coming soon” listings on the market:
1449 N. Montgomery Street – $2,900,000
1273 S. Rice Road #60 – $259,900
950 Woodland Avenue #84 – $265,000
174 Valley Road – $680,000 (coming soon, 2/16)
Pic of the Day
Tuesday, February 14, 2023
10:45 a.m.
One new listing has come to the market since last Friday:
1207 San Ramon Way – $1,650,000
Pic of the Day
Friday, February 10, 2023
9:40 a.m.
There are two new listings on the market:
640 W. Heather Street – $1,025,000
1202 Loma Drive #130 – $340,000
Mortgage rate update:
30-yr fixed: 6.50%
15-yr fixed: 5.62%
30-yr Jumbo: 6/10%
30-yr FHA: 5.88%
30-yr VA: 5.92%
Here’s the list of things to do in Ojai; have a great weekend!
Pic of the Day
Thursday, February 9, 2023
10:40 a.m.
There is a new listing on the market:
12710-12718 Ojai Santa Paula Road – $995,000
Recently cancelled or expired listings, back on the market:
- 1975 Maricopa Highway #49 – $429,000 (most recently on the market 1/25/23)
Pic of the Day
Wednesday, February 8, 2023
8:35 a.m.
There are no new listings for today.
Pic of the Day
There’s something shady about this construction! See this home and several more in an article I found in The Atlantic that compiled a gallery of 31 unusual “homes” found throughout the world.
Tuesday, February 7, 2023
9:45 a.m.
There are no new listings for today.
Pic of the Day
Monday, February 6, 2023
11:40 a.m.
No new listings have come to the market since Friday.
Lake Casitas water capacity is up to 44.4% (the highest it’s been since 5/27/20). But I was wondering, how has the lake level gone up over the past week when we’ve had minimal rain? My guess is the Matilija Dam spill rate. As of this morning, the Matilija Dam is at 133% capacity and spilling over at a rate of 21,493 cubic feet per second – or in more relatable terms – 160,816 gallons per second. Per second!
Here’s your real estate market update for Ojai valley listings, including sales that occurred in January 2023:
~ 28 new listings came to the market in January, compared to 18 in December.
~ 19 residential properties sold in January, compared to 16 in December (does not include land parcels, commercial properties, or mobile homes).
~ Of the 19 properties that sold in January, 5 sold above list price, and the remaining properties sold below list price. For comparison, in December, 1 of the 16 listings sold over full price, and the remaining below list price. The average number of days on the market for properties sold in January was 54 days (51 days in December). (Note: For purposes of these statistics, “list price” is the original list price of the home and does not take into account any subsequent price reductions or increases after the home was initially listed on the market.) What’s interesting to note about the 5 properties that sold above list price: Four of the five properties were listed at $1,379,000 or higher (one property was listed at $925,000 and sold for $1,000,000). Don’t tell me the high-end market has dried up!
~ The average sales price for homes in January was $1,393,415 while the median sales price was $1,120,000. The lowest sales price for a home in January was $650,000 while the highest sales price was $2,800,000.
~ As of today there are 31 single-family residential homes available on the market – one of which is “coming soon” (does not include land, commercial property or mobile homes). For comparison, there were 35 active listings on the market on January 5th (the date of our last market update). Of the 31 active listings on the market at this time, 8 of them are listed under $1,000,000 (there were 12 such listings on January 5th). If I remove the outlier listing in upper Ojai that’s listed at $65,000,000, the average list price for homes on the market today is $2,556,367 ($2,409,388 in January), while the median listed home price is $1,424,500 ($1,449,000 in January).
~ During the month of January there were 14 price reductions on listings (6 in December). Note: For this metric, price reductions include ALL types of listings (residential, land, mobile home, commercial) so that you have an overall view of what the entire market is doing.
Here’s a check-in regarding the latest in interest rates:
As interest rates take cues from several places, a stronger economy implies more growth and tighter Fed policy, both of which are not good for rates. The most recent Jobs Report that came out last Thursday was a doozy. Data reported that new jobs added in January were quite a bit higher than expected, lowering the unemployment rate to its lowest level since the 1960’s. These large deviations usually result in big reactions in rates.
In other words, the most highly regarded measure of employment says things are super strong. Super strong jobs numbers are bad for rates, and these were no exception. Fortunately, the damage arrived one day after the lowest rates in more than 4 months. This keeps rate volatility lower in the bigger picture.
Despite the volatility in the short term, the bigger picture is much calmer than it had been in late 2022. In fact, rates have generally been settling down and shifting into a sideways pattern ever since topping out in the fall.
[Thanks for Martin Rosenblum of Motif Mortgage for his insights, 805.377.5432]
Current mortgage rates:
30-yr fixed: 6.39%
15-yr fixed: 5.45%
30-yr Jumbo: 5.92%
30-yr FHA: 5.82%
30-yr VA: 5.85%
Pic of the Day
Friday, February 3, 2023
10:30 a.m.
There is a new listing (sorta) on the market:
1202 Loma Drive #126 – $225,000
(However, this listing is already pending/under contract)
Prior “coming soon” listings now on the market:
Here’s the list of things to do in Ojai; have a wonderful weekend….
Pic of the Day
Thursday, February 2, 2023
9:50 a.m.
There are two new or “coming soon” listings on the market:
1202 Loma Drive #35 – $225,000
1175 Moreno Drive – $1,500,000 (coming soon, 2/3)
Prior “coming soon” listings now on the market:
Pic of the Day
Wednesday, February 1, 2023
9:10 a.m.
There is a new listing on the market:
Pic of the Day
