Hello Morris,
The average days on market overall in 93023 is about 200. However, we are experiencing 3 different markets in 3 different price ranges. The high-price inventory is moving very slowly, the middle is getting better but the low end is extremely hot right now. In fact, we have only 30 days of inventory available due to short sales and REOs (bank-owned properties). The days on market number is also inflated by the length of time it takes to resolve short sales. Sometimes it takes 4 to 6 months for the sales to close which gives us a false days on market number. At this point in time, there are 3 homes pending in the million plus price range...a condition we have not experienced all year. This is good news for high end sellers but it's a little early to call it a trend. In the low end, prices have been inching upwards since May so we feel this signals that we are at bottom or at least have stabilized.
Thanks for your question and let me know if you would like more detailed data.
Best,
Sharon MaHarry, GRI, ABR, e-Pro
Broker Associate
Keller Williams Realty - Ojai, CA

Morris,

Currently (2 months later), there are 120 Active Listings in Ojai, with an average Days On Market (DOM) of 120. The market here in 93023 has stabilized, with only 5 Bank-owned REOs, and 9 Short Sales. Eliminating the 3 most recent listings and all distressed properties (Short Sale/REOs) the average DOM is 132. I have included a link, showing the remaining 100 homes listed, good for one month.

Morris,

This topic is such an important issue I made it the featured post on my website as a Video Blog. To see an answer to your question please visit

http://homebuysblog.com/2008/06/11/why-days-on-market-is-a-n…

It's 118 Days based on 114 actives on the VC-MLS