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.
January 3, 2019
Here’s the Ojai Market Data for the past month (data from 12/1/18 through 12/31/18):
- 14 new listings came on the market; 5 of these new listings are either pending sales or have already closed. Last month we saw 32 new listings come on the market; 6 of them were pending or closed sales as of the date of our update.
- 20 properties sold and closed (18 last month) – at an average of 88.95% of the original listing price when the property first came on the market (this figure was 92.44% last month). Of the 20 properties that sold, 0 offers were at full price and 0 offers were over full price (last month there were 3 full price offers and 0 over full price)
- The average listing was on the market for 130 days before first receiving an offer (74 days last month).
There are currently 142 active listings on the market, not including properties currently listed as pending sales. (There were 168 active listings last month.) Here’s how those listings break down:
- 86 residential listings
- 30 land listings
- 7 commercial listings
- 9 mobile home listings
- 4 residential income listings
- 6 residential condo listings
- 0 business opportunity listings
Ojai sales-to-list price percentages, 12/1/18 through 12/31/18
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 – December, 2017 through December, 2018
- 2018 seemed to end quietly, with only 14 new listings and 20 closings for December. In addition, the number of active listings dropped from 168 to 142. December tends to be slow anyway (especially last year – due to the fire), but the list-to-sales price percentage dropped to 88.95%, the lowest we’ve seen since we started doing the Ojai Market Data update a few years ago.
- At first glance, that 88.95% may seem scary, but we still believe this is another example of people pricing their homes higher in a market that’s actually slowing down. Buyers are simply not willing to continue to pay higher and higher prices, as evidenced by the number of days on the market before homes are getting their first offer (130 days), and the fact that we saw zero full-price or above full-price offers in December.
- Repeating what we said last month, however – buyers are out there in droves right now! Yes, even over the holidays, where we put two of our listings into escrow, and have three active buyers that we’ve been showing property to over the last two weeks.
We’ll have more interesting and fun stats for you when we do our 2018 year in review in the next few days, so be on the lookout for that!