Welcome to the latest Ventura County market update for July 2023! Whether you're a homeowner, buyer, or just interested in the local real estate scene, we've got you covered with all the key insights and trends!

New Listings and Pending Sales

In July, Ventura County saw a total of 584 new listings entering the market. This indicates a 10.7% decrease compared to the previous month. Additionally, pending sales for the same period totaled 399, experiencing an 18.06% decrease from the prior month.

Median Sales Price

The median sales price for homes in Ventura County stood at $840,000. This represents a $17,500 decrease from the previous month's figures.

Median % of Original Price Received

Sellers in the county received approximately 100.6% of their original asking price, showing a strong market demand and competitive pricing.

Average Days on Market

Homes spent an average of 28 days on the market before being sold, showcasing the continued desirability of properties in the area.

Months Supply

The months supply of homes for July was at 2.2 months. This metric is vital as it indicates the number of months it would take for all current listings to be sold, assuming no new listings come onto the market. A lower months supply indicates a seller's market, while a higher supply leans towards a buyer's market.

Closed Sales

The total number of closed sales in July was 462, marking a 10.6% decrease from the previous month.

Median Shows to Contract

Homes in Ventura County were typically under contract within a median time of 3.0 shows, highlighting the efficiency of the buying process.

Absorption Rate

The absorption rate, which stands at 45%, is a critical indicator in Real Estate. It signifies the pace at which available homes are being sold (a measure of supply & demand), helping both buyers and sellers understand the market's intensity.

In Conclusion

While there was a slight decrease in new listings and pending sales, the market remains competitive. With a median sales price of $840,000 and properties receiving over 100% of their asking prices, Ventura County continues to be a sought-after destination for both buyers and sellers.

Whether you're considering buying, selling, or just want to explore your options, our experienced team is here to guide you through every step of your real estate journey. Reach out to us today for personalized advice and expert insights that can help you make the best decisions in this dynamic market. Your dream property in Ventura County awaits!