Ventura County Housing Market Update – June 2021
Reminder: For the June 2021 report, we are looking at what sold in May. If you want to see what sold in April, see the MAY 2021 HOME SALES REPORT.
We had 10 straight months of record breaking sales, and then it stopped. May 2021 home sales didn’t make the list.
So the streak has been broken. Take a look below at May 2021. No yellow highlight.
- The Big Picture: Home Sales Year-Over-Year
- Closed Sales: Not a Record Breaking Month
- Days on Market: Selling Faster Continues
- New Listings: More Choices for May 2021
- Median Sales Price:
- Real Estate Market Statistics: The Golden State of California
- What Buyers Need to Know
- What Sellers Need to Know
- REVISED AGAIN Covid-19 Home Shopping Rules
- Wrap Up
The Big Picture: Home Sales Year-Over-Year
Then again, it’s a little tricky when you compare 2020 to anything. There’s a reason for what seems like a huge surge. We were shut down last year.
Closed Sales: Not a Record Breaking Month
Still, it wasn’t bad for single family home sales in Ventura County.
Days on Market: Selling Faster Continues
Days on Market shows how quickly buyers enter into an accepted contract.
That number was lower in May.
New Listings: More Choices for May 2021
New Listings went up Year-Over-Year. Still not as many new listings as in 2019.
Below is an interactive chart that shows how supply of new listings has played out.
Median Sales Price:
Median sales price of $810,000. Last month was
The Hyper-Local Picture: Home Sales by Zip Code
The graph below shows monthly activity for many of the cities in the Greater Conejo Valley area and beyond.
Real Estate Market Statistics: The Golden State of California
Here’s a graphic from the California Association of REALTORS® for May 2021. This is the statewide view.
What Buyers Need to Know
As competition still remains high, make sure you have a lender who can perform quickly.
Leave a pad at the top so that you have headroom to offer over asking. Continue to search BELOW your maximum affordability. Offers right now are over asking, so you need to allow for that.
If you’re running to the top of your affordability, be sure to run the figures by your lender when you make an offer to ensure the numbers work.
Right now, waivers of the appraisal contingency are the norm. A word of caution on this. Make sure you understand the implications of waiving contingencies in this market. It could be a big hit to your savings account if the appraisal comes in lower than the agreed purchase price and then you have to put in the difference.
What Sellers Need to Know
Aim for a realistic listing price on your property. Even so, the bidding will likely go over that. As offers reach frenzied levels, the amounts above asking are sky high and increasing.
MAKE YOUR HOME SPARKLE to get the maximum sales price. Yes, even surgically clean.
CONSULT WITH your REALTOR® before embarking on any improvements to get your house ready for sale. He/she will likely need to do a market analysis to see what is standard in your neighborhood. Keep in mind that some repairs pay off, and others don’t.
BRAINSTORM with your REALTOR® about how buyers think and plan your marketing around that. It’s a constantly shifting market. Be aware, though, that some fixes are necessary, but boring. For example, a working roof and a working air conditioner and furnace are necessary, but nobody gets excited about them.
Consider putting on the glitz to get a top selling price.
REVISED AGAIN Covid-19 Home Shopping Rules
- Masks, gloves, hand washing are still a good idea, but the homeowner sets the policy.
- OPEN HOUSES are back.
- It’s still a market for serious buyers only. Get your lender pre-approval letter and evidence of down payment money. If you see a home that you like, be prepared to offer quickly.
Wrap Up
If I can be of help or if you need any additional information, please don’t hesitate to 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 6/14/21 and 6/27/2021.
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
