Ojai Market Recap – March 2018

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Thanks to the gentle rains of March, bright yellow fields of mustard are popping up all over and looking quite brilliant against the neon green of our hillsides.  Even our iconic oak trees are proving their resilience as new branches of growth are appearing….  These signs of Ojai’s post-fire healing allow us all to exhale a little sigh of relief! 

There’s been a noticeably slower start to our Spring Real Estate Market this year. It’s hard to know if the fires had impact, or whether the rise in interest rates and recent volatility in the stock market have played a role,  What we do know is that both categories of Newly Listed Homes and Homes Entering Escrow are both off about 30% over March of last year.   And though there’s only 91 residential properties currently for sale…. we do expect to see a shift in all of these stats this next month.

 

TOTAL PROPERTIES FOR SALE – 91

AVERAGE DAYS ON MARKET – 66

NEWLY LISTED – 38

BACK ON MARKET – 9

ENTERED ESCROW – 25

CLOSED ESCROW – 24

SALES PRICE TO LIST PRICE RATIO – 97.36%

REDUCED PRICE – 30

INCREASED PRICE – 0