Ventura County Market Update | Q1 2018

Q1 | 2018

Ventura County and Surrounding Areas

Market Update

SOMIS

sothebyshomes.com/0424085 Offered at $4,400,000

CALABASAS

Stunning Architectural Last Asking $2,265,000

a message from

Annette Berger

Vice President, Brokerage Manager It is a great pleasure to present the Ventura County and Surrounding Areas Market Update for the first quarter of 2018.

Mortgage rates remain very favorable and low inventory is driving multiple offer situations, mainly in price points of $1.5 million and below. According to FLEX MLS, in Q1 2018, this segment of the market had 29% more sales than in Q1 2017.

However, the $2 million+ market slowed during Q1 2018. Inventory levels increased approximately 16% since the same time last year and the market currently has almost three months of inventory.

The results for single-family home sales in Ventura County and the surrounding areas for the first quarter of 2018 reflect a decline in median selling price. This decrease can be attributed to the lower-priced market performing exceptionally well, while homes in the high-end of the market saw a decline. The total number of units sold increased 34% from Q1 2017 (770 units) to Q1 2018 (1,030 units).

Days on market decreased substantially which is reflective of the fast-paced market.

I hope that you find the information in our quarterly update useful to make an informed decision in the purchase or sale of your next home. I invite you to discover more information online at sothebyshomes.com. If Sotheby’s International Realty can be of service to you, please call me at 818.645.7464 so that I may personally introduce you to a local expert. sothebyshomes.com/ventura

dre

email

phone

01022168

annette.berger@sothebyshomes.com

818.645.7464

Brokerages Serving Ventura County westlake village

805.495.2000

channel islands

805.382.8200

sothebyshomes.com/ventura

montecito coast village road

805.969.9993

santa barbara

805.963.1391

All data within this document is pulled from FLEX MLS. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission.

Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal housing opportunity. SIR DRE: 899496

Ventura County

and Surrounding Areas

06 08

Market Shapshot | All Areas

10 12 14

20 22 24 26 28

Agoura Hills Calabasas Camarillo

16 18

Featured Properties

Channel Islands (Oxnard) Lake Sherwood Ojai

Thousand Oaks Ventura

Westlake Village Extraordinary Results

Featured Properties We invite you to explore our exclusive offerings at S OTHEBYS H O ME S.C O M/VE NT U RA

AGOURA HILLS

sothebyshomes.com/0424133 Offered at $2,195,000

SOMIS

Offered at $4,900,000 sothebyshomes.com/0424051 CAMARILLO

Offered at $4,295,000 sothebyshomes.com/0423856 WESTLAKE VILLAGE

Offered at $3,965,000 sothebyshomes.com/0424095 AGOURA HILLS

Offered at $1,496,000 sothebyshomes.com/0424088 *in order from left to right, top to bottom

sothebyshomes.com/ventura

7

/ Featured Properties / Ventura County Q1 Market Update

Market Snapshot

Ventura County | Q1 2018

Units Sold t Snapshot 1100

$960,000

Westlake Agoura Hills Village

Calabasas

$940,000 900

$920,000 $900,000

Ventura

Camarillo

700

$880 ,000 $860,000

50 0

$840 ,000 300

$820,000

Thousand Oaks

Ojai

Channel Islands Lake Sherwood

$800,000

100

$780,000 $760,000

-100

2014 2015 2016 2017 2018

Total Units Sold 65 61 209 57 4 38 271 230 95

Average Selling Price vs. Total Units Sold

Agoura Hills

Average Selling Price

Calabasas

Total Units Sold

Camarillo Channel Islands Lake Sherwood Ojai Thousand Oaks Ventura Westlake Village

Comparison

by Neighborhood Agoura Hills, Calabasas, Camarillo, Channel Islands, Lake Sherwood, Ojai, Thousand Oaks, Ventura, and Westlake Village

ASP - Market Snapshot

$1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-

Agoura Hills

Calabasas

Camarillo

Channel Islands

Lake Sherwood

Ojai

Thousand Oaks Newbury Park/Thousand Oaks

Ventura

Westlake Village

Average Selling Price Q1 2018 900k $ 1.4m $ 700k

$

Agoura Hills Calabasas Camarillo

1.0m $ 1.7m $ 1.0m $

Channel Islands Lake Sherwood Ojai

9

800k $600k $ 1.1m

$

Thousand Oaks Ventura Westlake Village

/ Q1 Highlights / Ventura County Q1 Market Update

at a glance {Q1 | 2018}

agoura hills

-13

%

Change in Average Selling Price {2018 v 2017}

30

%

Change in Units Sold {2018 v 2017}

65 Units Sold

900k

$

Average Selling Price

|

vs ASP Average SellingUnits Price Total Units Sold

$1,200,000

70

$1,000,000

60 50

$800,000

40 $600,000 30 $400,000

20

$200,000

10

$-

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Agoura Hills As the gateway to the Santa Monica Mountains National Recreation Area in northern Los Angeles County, Agoura Hills and Calabasas houses some of Hollywood’s premiere celebrities, due in part to its private landscape, rolling hills and ample open space. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

-13%

-13%

-

-17%

30%

-7%

2018

$971,996

$941,908

3%

$760,000

65

62

2017

$1,116,348

$1,083,413

3%

$917,500

50

67

2016

$1,017,780

$987,802

3%

$822,500

38

94

2015

$971,644

$937,001

4%

$860,000

46

86

2014

$931,353

$880,157

5%

$771,258

52

89

11

/ Agoura Hills / Ventura County Q1 Market Update

|

vs ASP Average SellingUnits Price Total Units Sold

$2,500,000

70 60

$2,000,000

50 $1,500,000

40

$1,000,000

30 20

$500,000

10

$-

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Calabasas Calabasas, the youngest city in Los Angeles County, has a longstanding commitment to preserving the community’s natural beauty and semirural quality of life. The city serves as a national leader in environmental and public health issues. sothebyshomes.com/ventura

Average Average Selling List Price Price

{ALP vs ASP}

-16%

-16%

-

-26%

69%

-33%

2018

$1,467,726

$1,420,500

3%

$1,122,500

61

39

2017

$1,755,030

$1,681,418

4%

$1,516,500

36

58

2016

$1,992,954

$1,923,811

3%

$1,500,000

61

83

2015

$1,536,306

$1,476,777

4%

$1,200,000

51

95

2014

$1,688,798

$1,601,982

5%

$1,352,500

46

73

Discount Median Total Average Days Ratio Selling Price Units Sold on Market

{2018 v 2017}

Change

Ventura County Q1 Market Update / Calabasas / 12

at a glance {Q1 | 2018}

calabasas

-16

%

Change in Average Selling Price {2018 v 2017}

69

%

Change in Units Sold {2018 v 2017}

61 Units Sold

1.4m

$

Average Selling Price

at a glance {Q1 | 2018}

camarillo

-2

%

Change in Average Selling Price {2018 v 2017}

27

%

Change in Units Sold {2018 v 2017}

209 Units Sold

700k

$

Average Selling Price

|

vs ASP Average SellingUnits Price Total Units Sold

$740,000

250

$720,000 200

$700,000 $680,000

150

$660,000 100

$640,000 $620,000

50

$600,000 $580,000

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Camarillo Camarillo is a thriving community in the heart of Ventura County. Situated on the Oxnard Plain, just nine miles from the Pacific Ocean. Camarillo offers an appealing mixture of rural and suburban lifestyles. With more than 300 sunny days annually and an average temperature in the low 70s, Camarillo’s climate is hard to beat. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

-3%

-2%

-

-4%

27%

-24%

2018

$681,178

$670,698

2%

$579,000

209

55

2017

$700,168

$684,555

2%

$600,000

165

72

2016

$737,876

$714,650

3%

$592,500

167

76

2015

$640,515

$627,780

2%

$540,000

146

84

2014

$661,388

$644,781

3%

$517,000

109

71

15

/ Camarillo / Ventura County Q1 Market Update

|

Average SellingUnits Price Total Units Sold vs ASP $1,600,000

60

$1,400,000

50

$1,200,000 40

$1,000,000 $800,000

30

$600,000

20

$400,000 10

$200,000 $-

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Channel Islands (Oxnard) For the surfer, boater, or avid beachcomber, this seaside community offers miles of sandy beaches, surf breaks, sport fishing, kayaking, whale-watching and is the gateway to the Channel Island National Park. Walk to bike parks, local amenities, or Sunday Farmers Market from any of the beach or marina neighborhoods. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

-28%

-29%

-

-10%

138%

-11%

2018

$1,015,667

$969,762

5%

$851,300

57

84

2017

$1,411,783

$1,367,042

3%

$944,000

24

95

2016

$1,333,488

$1,201,823

10%

$975,000

30

104

2015

$1,097,684

$1,002,169

9%

$800,000

35

135

2014

$1,229,362

$1,042,647

15%

$832,500

32

159

Ventura County Q1 Market Update / Channel Islands / 16

at a glance {Q1 | 2018}

channel islands

-29

%

Change in Average Selling Price {2018 v 2017}

138

%

Change in Units Sold {2018 v 2017}

57 Units Sold

1

$ m Average Selling Price

at a glance {Q1 | 2018}

lake sherwood

-11

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017

4

Units Sold

1.7m

$

Average Selling Price

|

vs ASP Average SellingUnits Price Total Units Sold

$3,500,000

5 4

$3,000,000

4

$2,500,000

3

$2,000,000

3

$1,500,000

2 2

$1,000,000

1

$500,000

1

$-

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Lake Sherwood Surrounded by beauty and overflowing with family fun, Lake Sherwood offers a warm environment that invites you to enjoy golf, tennis, boating, swimming and back-country style living. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

-17%

-11%

-

-2%

0%

-50%

2018

$1,659,750

$1,681,750

-1%

$1,675,000

4

53

2017

$2,003,750

$1,891,250

6%

$1,702,500

4

106

2016

$1,406,000

$1,339,326

5%

$1,411,152

4

41

2015

$3,278,750

$3,195,000

3%

$3,142,500

4

76

2014

$1,240,000

$1,199,833

3%

$1,175,000

3

75

19

/ Lake Sherwood / Ventura County Q1 Market Update

|

vs ASP Average SellingUnits Price Total Units Sold

$1,200,000

50 45

$1,000,000

40 35

$800,000

30

$600,000

25 20

$400,000

15 10

$200,000

5

$-

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Ojai Set in a valley in the Topa Topa Mountains, the city has a village-like center dotted with art galleries and New Age shops. Home to artisans of every calling - farmers, celebrities, spiritualists and the famous Ojai Valley Inn. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

29%

28%

-

7%

-12%

-33%

2018

$1,082,989

$1,043,724

4%

$725,000

38

70

2017

$837,140

$813,323

3%

$676,000

43

105

2016

$751,123

$723,265

4%

$655,000

46

104

2015

$1,008,946

$990,801

2%

$665,000

39

148

2014

$832,675

$789,000

5%

$622,000

28

115

Ventura County Q1 Market Update / Ojai

/ 20

at a glance {Q1 | 2018}

ojai

28

%

Change in Average Selling Price {2018 v 2017}

-12

%

Change in Units Sold {2018 v 2017}

38 Units Sold

1

$ m Average Selling Price

at a glance {Q1 | 2018}

thousand oaks

-13

%

Change in Average Selling Price {2018 v 2017}

25

%

Change in Units Sold {2018 v 2017}

271 Units Sold

800k

$

Average Selling Price

|

Average SellingUnits Price Total Units Sold vs ASP $950,000

300 250

$900,000

200

$850,000

150 $800,000

100

$750,000

50

$700,000

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Thousand Oaks The City of Thousand Oaks is a premiere community recognized for being one of the most desirable places in all of California to live, work, recreate, and raise a family. Over 15,000 acres of natural publicly owned open space located within the City’s boundaries. Thousand Oaks is rated among the top safest cities in the Nation. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

-14%

-13%

-

-4%

25%

-19%

2018

$811,841

$796,553

2%

$715,000

271

56

2017

$940,365

$918,449

2%

$748,050

216

70

2016

$824,754

$805,597

2%

$715,000

193

80

2015

$838,573

$806,468

4%

$675,000

219

71

2014

$802,976

$780,642

3%

$607,500

202

74

23

/ Thousand Oaks / Ventura County Q1 Market Update

|

vs ASP Average SellingUnits Price Total Units Sold

$800,000

250

$700,000 200

$600,000 $500,000

150

$400,000 100

$300,000 $200,000

50

$100,000 $-

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Ventura A California coastal city, Ventura is known for its beaches, long Ventura Pier, Mission San Buenaventura with its 1809 church and Surfer’s Point - popular for surfing and windsurfing. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

-2%

-3%

-

2%

40%

-5%

2018

$663,256

$648,272

2%

$580,000

230

65

2017

$678,754

$666,019

2%

$568,950

164

68

2016

$718,058

$698,543

3%

$570,000

159

78

2015

$593,024

$578,974

2%

$520,000

160

82

2014

$553,006

$537,346

3%

$507,000

134

66

Ventura County Q1 Market Update / Ventura / 24

at a glance {Q1 | 2018}

ventura

-3

%

Change in Average Selling Price {2018 v 2017}

40

%

Change in Units Sold {2018 v 2017}

230 Units Sold

600k

$

Average Selling Price

at a glance {Q1 | 2018}

westlake village

-29

%

Change in Average Selling Price {2018 v 2017}

40

%

Change in Units Sold {2018 v 2017}

95 Units Sold

1.1m

$

Average Selling Price

|

vs ASP Average SellingUnits Price Total Units Sold

$1,800,000

100

$1,600,000

90

$1,400,000

80 70

$1,200,000

60

$1,000,000

50

$800,000

40

$600,000

30

$400,000

20

$200,000

10

$-

0

2014

2015

2016

2017

Average Selling Price

2018

Total Units Sold

About

Westlake Village Breathtaking blue waters of Westlake Lake, lush rolling pastures of horse country and a lively array of leisure activities ranging from biking or hiking to golfing on any one of our many private or public courses. sothebyshomes.com/ventura

{ALP vs ASP}

Average Average Discount Median Total Average Days List Price Selling Price Ratio Selling Price Units Sold on Market {2018 v 2017}

Change

-31%

-29%

-

-32%

40%

17%

2018

$1,137,739

$1,113,563

2%

$890,000

95

66

2017

$1,646,726

$1,561,724

5%

$1,305,000

68

56

2016

$1,348,932

$1,244,347

8%

$1,125,000

57

80

2015

$1,467,732

$1,412,022

4%

$1,110,000

60

70

2014

$1,298,627

$1,263,583

3%

$1,052,500

58

80

27

/ Westlake Village / Ventura County Q1 Market Update

Extraordinary Results We celebrate the notable success of our associates and clients

SOMIS

Exquisite Tuscan Masterpiece Last asking $2,699,000

AGOURA HILLS

6020 Macadam Court Last asking $2,249,000 VENTURA

Chic Hillside Contemporary Last asking $1,895,000 MOORPARK

Gated Moorpark Estate Last asking $1,325,000 FILLMORE

Historic Ranch Home Last asking $1,290,000 *in order from left to right, top to bottom

sothebyshomes.com/ventura 29

/ Significant Sales / Ventura County Q1 Market Update

April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May

We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.

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