LIV Sotheby’s International Realty just released a Micro Market Report examining the real estate performance throughout 2019 for over 50 different neighborhoods across Ventura County!
In analyzing the market data, we find that 2019 was a good year for real estate in Ventura County. As a whole the 57 neighborhoods that make up Ventura County saw many positive increases in metrics that help determine the health of a real estate market.
Total dollar volume sold during 2019 increased by 3.8% in comparison to 2018. Total sales in Ventura County added up to $5,980,444,092 at the close of 2019. Sold listings for all property types also rose last year, increasing by 4.2% during 2019 to 8,432 listings sold from 8,095 listings sold in 2018. On a more granular level, single family homes and attached dwellings, which includes condominiums and townhomes, each saw increased sales. Single family home sales grew by 4.2%, ending the year with a total of 6,323 homes sold. Attached dwelling sales also increased, with a 6.8% rise landing with 2,061 selling in 2019.
Some communities saw more increases in property sales than others. Montecito is the best example of this, as its property sales increased by an astounding 140.5% from 2018 to 2019. Last year there were 89 home sales in Montecito, an impressive jump from 2018 when there were 37 home sales in the same area. This increase in sold properties could indicate a rise in demand for homes in this area.
Another sign of growing demand is a decrease in the average days on market. Within Ventura County, homes in Saddle Mountain sold the quickest during 2019. Compared to 2018, the average days on market for listings in Saddle Mountain dropped by 55.8%, falling from 165 days in 2018 to 73 days in 2019.
The average sold prices for many neighborhoods saw an upward trend in 2019. The most significant sold price increase was seen in Fillmore where the average sold price rose by 11%. In 2019, the average sold price for homes in this neighborhood was $526,910 compared to 2018 when the average sold price was $474,490.
Using this data, home buyers and sellers can make more informed financial decisions in 2020. Favorable market conditions, as seen in the report, will create opportunities for consumers to achieve their real estate, financial, or lifestyle goals in Ventura County.