Stockton CA Real Estate Market Update – July 2019 Stockton Realtor

Hello everyone Richard Hundley and David McKeever here with Advance 1 McKeever Real Estate for our monthly Market update and David. What do you have for us? Alright, we are doing the monthly market update. As you said, this is for the City of Stockton and We are reporting on our latest figures from the month of july 2019 so we’re gonna start off with the number of homes that were listed in july How many went pending and how many actually got sold? So this lighter ringing top number, here’s the amount of new listings as you can see 497 new listings hit the market in July last month And if you look back in the previous months, this number is is slowly been declining in the month of June of 2019 it was 541 so it’s definitely a drop from there but the biggest thing that I want to point out on this chart for this month is the Amount of homes that went pending and as you can see, there’s quite a spike in the amount of new homes that went pending from 314 in June all the way up to 391 homes went pending in July and I think that’s right around 25% gain, which is Pretty abnormal if you were to look back to what happened Last summer the house will be here. Yeah, we had we have a bit of a spike in August of last year, but I Think that’s a fantastic turn around because June definitely kind of was feeling kind of sluggish that it was maybe a June swoon or something, but We definitely had a spike in the amount of pending sales for July. So that’s it Looks like the markets kind of picking back up again bars the sold homes that dropped in in July of last year and that’s kind of a correlation of what was going on the previous month the previous month the pending sales went down and I anticipate a lot of sales obviously for the month of August. So what’s this mean or the months of inventory? As you can see on the next chart here the months of inventory has dropped down to one point Three months of inventory and that’s just due to the amount of pending sales that happened in July So it’s definitely shifted back to that sellers. Yeah seller’s market our next chart we have days on the market which is kind of correlating with the amount of ped means we had and how fast they’re going up our days on the market have dropped to the second lowest amount of days on the market over a whole year’s period so Good sign of things are selling fast. Now this top line and the green one is the sale price verse the list price so this 98% means if you listed the house and a hundred thousand that is sold for 98 thousand, which that’s way up there I mean that’s pretty much full price and It’s holding very steady for us Which is a great sign that the summer sizzle as David says it’s still sizzling Yeah, so 90 percent is great 34 days on the market is good We’re moving forward. Okay, we had the last data chart of the day it is our median sold price for the four here in Stockton and last month in July, the median sold price is three hundred and twenty one thousand and While it was a it was a little bit of a dip versus the previous month What I like is the indication where over the last few months In March of this year, we kind of broke through that $300,000 level and over the last four months. We’ve we’ve kind of climbed and our home and steady So that’s a real healthy sign for our market that we’re able to hold these prices Home buyers are still continuing to purchase homes at these levels Now that the rates are dropped even even further than last month or so It’s making them more affordable than product previously So it’s wearing a good healthy market If you look back a year, the median sold price has risen about three and a half percent And that’s a healthy return and it’s an average of real estate return on a historical basis in my opinion It is like you said last month Maybe they were on vacation in June but it looks like in July the buyers are back. Yes, they are Well, if you have any questions about your home’s value Or if we can sit down with you and chat about kind of your thoughts your plans. We’re happy to do that These charts are specific to Stockton So each individual neighborhoods are obviously much different, but give us a call and we’ll be happy to sit down with you And we will see you next month

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