July 2023 Housing Statistics

September 6, 2023

Increase in median sales for July, inventory remains tight.

Single Family & Condo Summaries

Zip Code Reports

Sales Volume

July closed with 907 sales – 6.9% decrease from June (974 sales)
16% less sales than July 2022 (1,081 sales)
Conventional Financing accounts for the 63.8% of sales this month, Cash and FHA at 14.8% and 14%, respectively

Sales Price

Median sales price increased 3.2% from $530,000 to $547,000
0.5% decrease from July 2022 ($549,000)
The median sales price shows that exactly half the monthly sales are above this price and exactly half the sales are below this price

Listing Inventory

Listing inventory increased 0.3% from June to July, from 1,263 units to 1,267 units
Compared with July 2022 (2,505), inventory is down 49.4%
The Months of Inventory increased from 1.3 months to 1.4 months
Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory

Days on Market

Median DOM (days on market) increased from 7 to 8, down from 11 in July 2022
Of the 907 sales this month, 84.2% (764) were on the market for 30 days or less and 95.1% (863) were on the market for 60 days or less

Summary

Sales volume decreases, but median sales price increases. Inventory remains tight. Average price/square foot drips from $348 to $344.

The Sacramento Association of REALTORS ® is a professional association representing over 7,300 real estate professionals doing business in the greater Sacramento metropolitan area. All SAR statistics reports compiled by SAR Director of Communications. Statistics are derived from the MetroList® MLS database for Sacramento County and the City of West Sacramento.
†Other financing includes 1031 exchange, CalVet, Farm Home Loan, Owner Financing, Contract of Sale or any combination of one or more

May 2024 Housing Statistics

May was a Seller’s market! The number of for sale listings was up 65.6% from one year earlier and up 16.7% from the previous month. The number of sold listings decreased 7.1% year over year and increased 10.1% month over month. The number of under contract listings was up 13% compared to previous month and up 10.1% compared to previous year. The Months of Inventory based on Closed Sales was 1.5, up 85.2% from the previous year. The Average Sold Price per Square Footage was up 2.9% compared to previous month and up 5.1% compared to last year. The Median Sold Price increased by 1.8% from last month. The Average Sold Price also increased by 4.2% from last month. Based on the 6 month trend, the Average Sold Price trend was “Appreciating” and the Median Sold Price trend was “Appreciating”. The Average Days on Market showed a neutral trend, a decrease of 4.5% compared to previous year. The ratio of Sold Price vs. Original List Price was 100%, was the same compared to previous year. Property Sales (Sold)May property sales were 1,035, down 7.1% from 1,114 in May of 2023 and 10.1% higher than the 940 sales last month. Current Inventory (For Sale)Versus last year, the total number of properties available this month was higher by 600 units of 65.6%. This year’s bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was up 16.7% compared to the previous month. Property Under Contract (Pended)There was an increase of 13% in the pended properties in May, with 1,157 properties versus 1,024 last month. This month’s pended property sales were 10.1% higher than at this time last year.
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April 2024 Housing Statistics

April was a Seller’s market! Property Sales (Sold)April property sales were 888, up 7.4% from 827 in April of 2023 and 9.4% higher than the 812 sales last month. Current Inventory (For Sale)Versus last year, the total number of properties available this month was higher by 400 units of 47.6%. This year’s biggerinventory means that buyers who waited to buy may have bigger selection to choose from. The number of currentinventory was up 14.2% compared to the previous month. Property Under Contract (Pended)There was an increase of 10.8% in the pended properties in April, with 1,040 properties versus 939 last month. This month’s pended property sales were 13.4% higher than at this time last year. The Average Sold Price per Square Footage was Neutral*1The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the ‘mix’ of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The April 2024 Average Sold Price per Square Footage of $341 was down 0.6% from $343 last month and up 3.3% from $330 in April of last year. The Days on Market Showed Downward Trend*2The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for April 2024 was 18, down 30.8% from 26 days last month and down 48.6% from 35 days in April of last year. The Sold/Original List Price Ratio was Rising*3The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicatesmore of a Seller’s market. This month Sold Price vs. Original List Price of 101% was up 1% % from last month and up from3.1% % in April of last year. The Average For Sale Price was Neutral*4The Average For Sale Price in April was $763,000, down 3.5% from $791,000 in April of 2023 and up 0.1% from $762,000 last month. The Average Sold Price was Appreciating*The Average Sold Price in April was $600,000, up 4.2% from $576,000 in April of 2023 and up 0.5% from $597,000 lastmonth. The Median Sold Price was Appreciating*The Median Sold Price in April was $550,000, up 6.8% from $515,000 in April of 2023 and the same as last month. Summary April 2024 was a Seller’s market! The number of for sale listings was up 47.6% from one year earlier and up 14.2% from the previous month. The number of sold listings increased 7.4% year over year and increased 9.4% month over month. The number of under contract listings was up 10.8% compared to previous month and up 13.4% compared to previous year. The Months of Inventory based on Closed Sales was 1.4, up 39.3% from the previous year.
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March 2024 Housing Statistics

Spring surge sees sales jump, sales price and inventory follow Single Family & Condo Summaries Zip Code Reports Sales Volume March closed with 832 sales – a 14% increase from February (730 sales) 8.2% less sales than March 2023 (906 sales) Conventional Financing accounts for 63.2% of sales this month, Cash and FHA at 17.8% and 11.9%, respectively Sales Price Median sales price increased 2.8% from $535,000 to $550,000 9.9% increase from March 2023 ($500,500) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory increased 14.7% from February to March, from 1,181 units to 1,355 units Compared with March 2023 (879), inventory is up 54.2% The Months of Inventory remained at 1.6 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) decreased from 11 to 9, down from 16 in March 2023 Of the 832 sales this month, 74.8% (622) were on the market for 30 days or less and 85.5% (711) were on the market for 60 days or less Summary Sales volume sees spring increase, same for median sales price. Inventory jumps, up 54% from 2023. Homes sales pick up speed as more buyers enter market.
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February 2024 Housing Statistics

Sales volume, median sales price rebound for February, homes selling faster Single Family & Condo Summaries Zip Code Reports Sales Volume February closed with 730 sales – a 19.7% increase from January (610 sales) 4.4% more sales than February 2023 (699 sales) Conventional Financing accounts for 64% of sales this month, Cash and FHA at 17.9% and 13.3%, respectively Sales Price Median sales price increased 3.9% from $515,000 to $535,000 7.2% increase from February 2023 ($499,000) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory increased 6.1% from January to February, from 1,113 units to 1,181 units Compared with February 2023 (1,111), inventory is up 6.6% The Months of Inventory decreased from 1.8 Months to 1.6 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) decreased from 21 to 11, down from 26 in February 2023 Of the 730 sales this month, 67.1% (490) were on the market for 30 days or less and 85.1% (595) were on the market for 60 days or less Summary Sales volume rebounds in February, median sales price follows. Inventory also sees increase. After a lull, homes are sellingfaster. Average Price/SqFt sits at $343 for Sac County.
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January 2024 Housing Statistics

Sales volume, median sales price dip to begin 2024 Single Family & Condo Summaries Zip Code Reports Sales volume January closed with 610 sales – 13% decrease from December (701 sales) 6.6% more sales than January 2023 (572 sales) Conventional Financing accounts for 62.5% of sales this month, Cash and FHA at 13.3% and 17.2%, respectively Sales Price Median sales price decreased 3.7% from $535,000 to $515,000 3.2% increase from January 2023 ($499,000) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory increased 2.7% from December to January, from 1,084 units to 1,113 units Compared with January 2023 (1,300), inventory is down 14.4% The Months of Inventory increased from 1.5 Months to 1.8 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) increased from 19 to 21, down from 29 in January 2023 Of the 701 sales this month, 61% (372) were on the market for 30 days or less and 81.7% (498) were on the market for 60 days or less Summary Sales volume dips for January, median sales price follows. Inventory sees slight increase, homes staying on market longer.Average Price/SqFt sits at $332 for Sac County.
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December 2023 Housing Statistics

Sales volume holds steady month-to-month, sales price notches upward Single Family & Condo Summaries Zip Code Reports Sales volume December closed with 701 sales – .6% increase from November (697 sales) 12.8% less sales than December 2022 (804 sales) Conventional Financing accounts for 63.8% of sales this month, Cash and FHA at 14.3% and 15.1%, respectively Sales Price Median sales price increased 1.9% from $525,000 to $535,000 10.3% increase from December 2022 ($485,000) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory decreased 16.4% from November to December, from 1,296 units to 1,084 Compared with December 2022 (1,468), inventory is down 26.2% The Months of Inventory decreased from 1.9 Months to 1.5 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) increased from 14 to 19, down from 26 in December 2022 Of the 701 sales this month, 65.3% (458) were on the market for 30 days or less and 85.7% (601) were on the market for 60 days or less Summary Sales volume low, but steady through holiday season. Median sales price notches upward, inventory declines as sellers pull homes off market. Average Price/SqFt sits at $331.
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November 2023 Housing Statistics

Sales volume down 16% month-to-month, sales price down 4.2% Single Family & Condo Summaries Zip Code Reports Sales volume November closed with 697 sales – 16.7% decrease from October (837 sales) 11.2% less sales than November 2022 (785 sales) Conventional Financing accounts for 59.3% of sales this month, Cash and FHA at 19.8% and 13.6%, respectively Sales Price Median sales price decreased 4.2% from $548,000 to $525,000 2.9% increase from November 2022 ($510,000) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory decreased 9.8% from October to November, from 1,437 units to 1,296 Compared with November 2022 (1,871), inventory is down 30.7% The Months of Inventory increased from 1.7 Months to 1.9 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) increased from 12 to 14, down from 23 in November 2022 Of the 697 sales this month, 74% (516) were on the market for 30 days or less and 91.1% (635) were on the market for 60 days or less SummarySales volume sees continued seasonal decline. Median sales price, inventory drops as demand shifts. Homes staying on market longer. Average Price/SqFt sits at $337.
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October 2023 Housing Statistics

Sales drop 5% month‐to‐month, sales price up 7.5% year‐to‐year Single Family & Condo Summaries Zip Code Reports Sales volume October closed with 837 sales – 4.9% decrease from September (880 sales) 7.8% less sales than October 2022 (908 sales) Conventional Financing accounts for 60% of sales this month, Cash and FHA at 19.1% and 13.5%, respectively Sales Price Median sales price increased .6% from $545,000 to $548,000 7.5% increase from October 2022 ($510,000) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory increased 5% from September to October, from 1,368 units to 1,437 units Compared with October 2022 (2,199), inventory is down 34.7% The Months of Inventory increased from 1.6 Months to 1.7 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) increased from 10 to 12, down from 21 in October 2022 Of the 837 sales this month, 77.9% (652) were on the market for 30 days or less and 91.3% (764) were on the market for 60 days or less Summary Sales volume sees seasonal decline; median sales price holds steady. Inventory increases MOM as demand shifts. Average Price/SqFt sits at $347.
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September 2023 Housing Statistics

Sales dip 10% month-to-month, 23% year-to-year Single Family & Condo Summaries Zip Code Reports Sales Volume September closed with 880 sales – 10.1% decrease from August (979 sales) 22.7% less sales than September 2022 (1,139 sales) Conventional Financing accounts for 61.9% of sales this month, Cash and FHA at 18.1% and13%, respectively Sales Price Median sales price increased 1.9% from $535,000 to $545,000 4.8% increase from September 2022 ($520,000) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory increased 7% from August to September, from 1,278 units to 1,368 units Compared with September 2022 (2,334), inventory is down 41.4% The Months of Inventory increased from 1.4 Months to 1.6 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) remained at 10, down from 19 in September 2022 Of the 979 sales this month, 78.2% (688) were on the market for 30 days or less and 91.5% (805) were on the market for 60 days or less Summary Sales volume decreases 10% for fall season. Median sales price sees slight increase. Inventory increases MOM as demand shifts. Average price/SqFt jumps from $343 to $346.
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August 2023 Housing Statistics

Median sales price flat year-over-year, inventory down 46% from 2022 Single Family & Condo Summaries Zip Code Reports Sales Volume August closed with 979 sales – 7.9% increase from July (907 sales) 17.2% less sales than August 2022 (1,182 sales) Conventional Financing accounts for 60.8% of sales this month, Cash and FHA at 18.9% and 14%, respectively Sales Price Median sales price decreased 2.2% from $547,000 to $535,000 Same prices as August 2022 ($535,000) The median sales price shows that exactly half of the monthly sales are above this price and exactly half of the sales are below this price Listing Inventory Listing Inventory increased .9% from July to August, from 1,267 units to 1,278 units Compared with August 2022 (2,380), inventory is down 46.3% The Months of Inventory increased from 1.3 Months to 1.4 Months Months of Inventory represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory Days on Market Median DOM (days on market) increased from 8 to 10, down from 17 in August 2022 Of the 979 sales this month, 77.9% (763) were on the market for 30 days or less and 92.8% (909) were on the market for 60 days or less Summary Sales volume increases slightly, but median sales price decreases. Limited inventory, down 46% YOY. Average price/SqFt drops from $344 to $343.
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Increase in median sales for July, inventory remains tight.

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