Below, is the illustration of the Ojai Real Estate Market Absorption Trend for the month of October, 2012. This illustration also included Single Family Homes from the Oak View area. The data shows that the median sales price has dropped, which means that more Ojai Single Family Homes sold in the lower price range, which is the most hunted price range.
The median Sales price is the halfway, one half of the Ojai Single Family Homes sold for more than the median price and one half sold for less.
Ojai has a very high ratio of homes priced over $1Million. Check out the home Reese Witherspoon is selling. Larry Hagman is selling his mountaintop estate as well.
Currently, there are only 97 Single Family Homes for sale in Ojai, and that translates to 4.4 months of inventory which by definition of the Market Absorption Analysis model would put Ojai Single Family Homes in a sellers market.
But, remember of these 97 Single Family Homes for sale, only 15 are priced under $450,000, this price range is very competitive and will see multiple offers.
The breakdown of available Ojai Single Family Homes for sale is as follows:
- 5 Ojai Single Family Homes priced under $350,000
- 10 Ojai Single Family Homes priced from $350,001 to $450,000
- 12 Ojai Single Family Homes priced from $450,001 to $550,000
- 5 Ojai Single Family Homes priced from $550,001 to $650,000
- 10 Ojai Single Family Homes priced from $650,001 to $850,000
- 8 Ojai Single Family Homes priced from $850,001 to $1,200,000
- 47 Ojai Single Family Homes priced from $1,200,000 plus
For home buyers wanting to purchase a Ojai Single Family Home it is imperative that one must have pre approval letter in hand, proof of funds for the down-payment and closing costs and be ready to make their highest and best offer initially.
Looking to sell or buy in Ojai, please call or visit my website for the most up to date information.
Hope you find the Ojai Real Estate Market Absorption Trend for October 2012 helpful!
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