Ventura County Home Sales: The February 2021 Hotness Update (Just in time for Valentine’s Day)
An ongoing reminder that for February’s home sales report we are looking at data from January 2021. If you want to see what happened in last month‘s report, here’s a link to the January 2021 REPORT.
In a nutshell there were brisk home sales in our local real estate market in Ventura County.
The graphics tell the story. Nothing like visuals to see what’s going on.
Let’s take a look.
Not So Quiet Out There in the Home Sales Department
Want to know what happens when there are fewer homes coming on the market at the same time as closed home sales increase? A brawl to get the new ones as they come out.
We’re talking multiple offers. 20. 30. Yes, it’s true.
If anything, it’s increasingly difficult to get a home if you’re a buyer. Everybody’s feeling the same misery.
Home sellers are jumping for joy.
- Not So Quiet Out There in the Home Sales Department
- Real Estate Market Trends: A Month of Mixed Arrows
- Days on Market Keeps Going Down
- More Homes Sold in January 2021 than Last Year
- Real Estate Market Statistics: How’s Your Zip?
- What Buyers Need to Know
- What Sellers Need to Know
- The Ongoing Covid-19 Home Shopping Rules of the Road That You Need to Know
- Wrap Up
Real Estate Market Trends: A Month of Mixed Arrows
Days on Market Keeps Going Down
You can see that over time the trend is down for Days on Market, aka how long to get an offer.
We’re talking about nearly HALF the time for the properties to get accepted offers vs a year ago. Whoa!
That’s a plunge.
So….Days on Market (DOM) is DOWN.
More Homes Sold in January 2021 than Last Year
So the change in number of homes sold in January wasn’t drastically different from last year (+5.5%).
Real Estate Market Statistics: How’s Your Zip?
Simi, Simi, Simi. They win every time and sail past the other cities.
Newbury Park and Thousand Oaks are in a close second. And then comes Camarillo.
Why is this important? If you ‘re shopping for a home, the zips with the highest numbers of sales create the greatest likelihood of finding something. You can’t find a home without supply.
What Buyers Need to Know
Prices going up. Prepare accordingly.
What Sellers Need to Know
Be careful and don’t ASSUME that everyone thinks your house is great. It if is, great. If not, not everyone will want to buy it.
The truth is the truth.
Until Covid has passed, here are the rules for seeing houses.
The Ongoing Covid-19 Home Shopping Rules of the Road That You Need to Know
- Virtual tours and 3-D photos are preferred, and buyer viewing photos is a prerequisite to showings. (Most people need to see the house to make a decision.)
- Masks, gloves, hand washing/gel, remove shoes/use booties. Posted warning at door is now required.
- Same as last month: Mandatory signed disclosures to enter the property: EVERYONE.
- Same as last month: Sellers cannot be home during showings in order to prevent virus spread.
- Same as last month: Number of buyers at showings limited to 2. Don’t bring a friend. There are restrictions to protect both buyers and sellers.
- Same as last month: Serious buyers only (Lender pre-approval and downpayment money). No looky loos). Increasingly sellers and listing agents require Proof of Funds as well as a Pre-Approval letter from a lender in order to see the propery. That means that it’s important to get pre-approved by your lender in advance.
Wrap Up
Same low supply. Will it increase in the months to come? Hmmm…stay tuned.
If I can be of help or if you need any additional information, please contact me directly.
Want to see which homes are for sale right now
in Ventura County?
Want to see which homes are for sale right now
in Ventura County?
Disclaimer
Based on data obtained from CRMLS/CRISNet MLS (Southland Regional Association of Realtors) and Infosparks on 2/7/2021.
If your property is currently listed for sale, please disregard. It is not our intention to solicit the listings of other brokers.Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Realtor providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Courtesy of Judy Burke | DRE#01883062 | eXp Realty
