An Early Summer Update for Ventura County

Here are the real estate stats for May 2021 in Ventura County.

As of May 2021 in Ventura County, there is an active listing shortage compared to last year-we’ve dropped 43.5% since May 2020. So if you’ve noticed that there are fewer houses on the market, you’ve noticed correctly.

​Right now, our average days on market (how many days a house spends on the market before it goes into escrow) is about 20 days. You might think that that’s a bit more than what it should be, since some homes are going into escrow very soon after listing, but that’s only because homes stay active on the MLS until all counters have been negotiated on the multiple offers sellers are getting. To no one’s surprise, our average sales-to-list price ratio is 103%, meaning that homes typically sell for 3% over their list prices. In some cases, they can sell for quite a bit more. The median home price has risen by 15% over last year.
 

Despite all this amazing news for sellers and our market as it continues to appreciate, we are seeing that around 16% of active listings are having to do price reductions in order to get into escrow.
All in all, we still have a very strong seller’s market, though many buyers are successfully getting into escrow. If you are interested in buying or selling a home or if you have any questions, reach out to us. We’re always available to help you.