Ventura County Residential
Micro Market Report
Throughout most of 2021, California’s housing market has managed to maintain its momentum from the real estate surge that took place in 2020. Although inventory remains low, demand for Southern California homes and the lifestyles that they provide has continued to fuel the market and motivate buyers to invest in their dream homes. Buyers looking to purchase a home before the end of the year may benefit from a slight cyclical decrease in showing activity, while sellers still have the advantage of the seasonal decrease in available homes on the market – increasing their odds of selling. Parties on either side of the transaction will enjoy perks of the fall real estate market.
While each market’s metrics are unique, there are some notable statistics worth mention:
- Ventura's north beach neighborhoods performed exceptionally well in the third quarter of 2021, with home values up 13% and the volume of homes sold also up from 8 sold by September 2020 to 12 sold by the same period this year.
- The Ventura south beach neighborhoods of Pierpont, Lanes and the Keys also reported some considerable increases, including a 23.5% increase in home values and a 40.4% increase in the number of homes sold compared to last year.
- The City of Ventura's lower college neighborhoods saw an increase of 18.7% in final sale prices in Q3 2021 and a substantial 129.6% increase in the number of homes sold compared to last year.
- River Ridge homes sold on average 24.5% more than they did in 2020. In fact, average sale prices in Q3 2021 are higher than the highest-priced sale in Q3 2020.
- The Meiners Oaks neighborhood reported a 26.0% rise in final sale prices in the third quarter of 2021 compared to 2020, bringing the new average sale price in Meiners Oaks to $962,074.
- Though the number of sales in the East End of Ojai stayed consistent year-to-year, average sale prices increased by a hefty 41.6%, bringing the new average home value in Ojai’s East End to $3,326,133.
- Spanish Hills reported a 36.6% increase in average sale prices from January to September 2021 compared to the same period in 2020.
- Lexington Hills reported a 61.5% increase in average sale prices from January to September 2021 compared to the same period in 2020.
Whether you’re interested in buying or selling a home in Ventura County or beyond, there are plenty of opportunities to reach your real estate and lifestyle goals. To see how your neighborhood performed, LIV Sotheby’s International Realty provides Micro Market Reports (MMRs), which analyze the Q3 real estate performance in many of Southern California’s most popular markets, including the neighborhoods that make up Ventura, Ojai, Oak View, Oxnard, Santa Paula, Camarillo, Thousand Oaks, Westlake Village, Malibu, Carpinteria, Montecito and Santa Barbara. All MMRs compare activity for single-family and attached dwellings within the residential areas the brokerage serves.