August is in the books, and it's time to take a closer look at how the Ventura County Housing Market performed during this sizzling summer month. Buckle up, because there's plenty to unpack!

 

New Listings:

• August '23: 505
• July '23: 614
• August '22: 787

 

The number of new listings dipped compared to both the previous month and the same period last year. This suggests that sellers may have taken a bit of a breather in August, but there's still a healthy flow of properties hitting the market.

 

 

Pending Sales:

• August '23: 369
• July '23: 476
• August '22: 681

 

Pending sales also saw a decrease, indicating a possible cooling off of buyer activity in August. However, it's important to remember that the market can be quite dynamic from month to month.

 

Closed Transactions:

• August '23: 498
• July '23: 466
• August '22: 674

 

Closed transactions were up in August compared to the previous month, which is a positive sign for the market. More homes changing hands could be a result of increased buyer interest or a reflection of the earlier surge in new listings.

 

 

Active Listings:

• August '23: 1,013
• July '23: 1,008
• August '22: 1,696

 

Active listings remained relatively stable in August, showing minimal change from July. The year-over-year comparison reveals a significant reduction in available inventory compared to August 2022, which may continue to impact the market.

 

 

Months Supply:

• August '23: 2.2
• July '23: 2.1
• August '22: 2.4

 

The months supply of homes continued to show a seller's market in August. With a supply of 2.2 months, it's clear that demand is still outpacing available inventory, driving competition among buyers.

 

 

Median Days on Market (DOM):

• August '23: 18
• July '23: 19
• August '22: 24

 

Homes in Ventura County spent a median of 18 days on the market in August, which is a slight improvement from July and a notable decrease from August 2022. This indicates that homes are selling faster in the current market.

 

 

Average Percentage of Original Price:

• August '23: 99.6%
• July '23: 100.8%
• August '22: 98.0%

 

Let's venture into the world of negotiations! In August, homes sold for an average of 99.6% of their original price. Although the percentage dipped slightly from July, it remains within a healthy range.

 

 

Average Shows to Contract:

• August '23: 10.2
• July '23: 4.6
• August '22: 8.5

In August, it took an average of 10.2 showings to secure a contract.

 

Median Sales Price:

• August '23: $848,500
• July '23: $838,500
• August '22: $800,000

 

The median sales price continued to rise in August, hitting $848,500. This represents an increase compared to both the previous month and the same period last year.

 

Absorption Rate:

• August '23: 49%

 

With an absorption rate of 49%, it indicates that the market in Ventura County remains active and competitive. This means that nearly half of the available homes were sold within the month, highlighting strong buyer demand. As we continue to monitor the Real Estate market in Ventura County, it's evident that it's an engaging and fast-paced environment for both buyers and sellers.

 

In summary, Ventura County's Housing Market in August 2023 saw some fluctuations in key metrics, but overall, it remains a competitive and exciting market for both buyers and sellers. Stay tuned for more updates as we navigate the ever-changing landscape of Ventura County real estate! 🏡🌞

 

𝙍𝙚𝙖𝙙𝙮 𝙩𝙤 𝙩𝙪𝙧𝙣 𝙮𝙤𝙪𝙧 𝙝𝙤𝙢𝙚𝙤𝙬𝙣𝙚𝙧𝙨𝙝𝙞𝙥 𝙙𝙧𝙚𝙖𝙢𝙨 𝙞𝙣𝙩𝙤 𝙧𝙚𝙖𝙡𝙞𝙩𝙮? 𝗗𝗢𝗡'𝗧 𝗪𝗔𝗜𝗧! 🚀 Let's kickstart your homebuying journey together. Connect with me today at (805) - 236 - 4993  to take the first exciting step toward your new home! 🗝️💫💰🏡.