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.
November 1, 2018
Here’s the Ojai Market Data for the past month (data from 10/1/18 through 10/31/18):
- 40 new listings came on the market; 10 of these new listings are either pending sales or have already closed. Last month we saw 44 new listings come on the market; 9 of them were pending or closed sales as of the date of our update.
- 35 properties sold and closed (30 last month) – at an average of 92.46% of the original listing price when the property first came on the market (this figure was 91.73% last month). Of the 35 properties that sold, 6 offers were at full price and 0 offers were over full price (last month there were 4 full price offers and 2 over full price)
- The average listing was on the market for 73 days before first receiving an offer.
There are currently 168 active listings on the market, not including properties currently listed as pending sales. (There were 159 active listings last month.) Here’s how those listings break down:
- 106 residential listings
- 29 land listings
- 8 commercial listings
- 14 mobile home listings
- 4 residential income listings
- 7 residential condo listings
- 0 business opportunity listings
Ojai sales-to-list price percentages, 10/1/18 through 10/31/18
Here’s the list of the 35 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 – October, 2017 through October, 2018
There’s been a touch of doom and gloom in the media regarding the housing market lately. However, even with 30-year fixed mortgage rates hovering just below 5% and slowly rising, we’re still seeing a solid Ojai market. The feeling out there amongst realtors is that things are slowing down, and while we do agree with that assessment, this month’s figures don’t really indicate anything to be concerned about.
40 new listings on the market for October is pretty much the norm; 168 active listings is only one less listing than the 169 we had in May of this year (although we still consider the Ojai valley to be in a listing shortage); and finally, 35 listings closed last month – the 3rd highest number of closings in a month for the 2018 calendar year.
However, we did note that last month the Ojai valley didn’t have a single sale that involved someone paying over the initial list price. I went back and checked our data archives: The last time we saw this occur was, well, never (at least since we started running the Ojai Market Data monthly reports over four years ago).