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Stockton CA Real Estate Market Trends May 2017

April 2017 continued to favor the Seller's! The number of for sale listings was down 5.5% from one year earlier and down 8.5% from the previous month.

The number of pending sales were up 10.9% compared to the previous month and up 10.3% compared to the previous year. The Months of Inventory based on Closed Sales is 1.5, down 6.4% from the previous year.

The Average Sold Price per Square Footage in Stockton Ca was up 1.2% compared to the previous month and up 12.4% compared to last year. The Median Sold Price increased by 4.8% from last month.   The Average Sold Price per Square Footage is a great indicator for the
direction of property values.

The Average Days on Market showed a neutral trend, a decrease of 19% compared to the previous year. The average Days on Market (DOM) shows how many days the
average property is on the market before it sells.

Is Your Home Worth as Much as You think?

 Vlog #6 - Is Your Home Worth as Much as You think?

We look at the recent Home Price Perception index report from quicken home loans which evaluates home sellers expected values of their home vs the appraised value?

The gap between appraiser and homeowner opinions of home value increased in April as homeowners overestimated the value of their homes by 0.69%. Meanwhile, home values bounced back, increasing by 0.28% in April following a March decrease in prices.

To have success and to sell your home in a reasonable time frame, it’s important for homeowners in the market to have an accurate expectation of home value.
 

Stockton Real Estate Market Trend - January 2017

Buyers still looking to make the move!
 

Even with the recent increase in interest rates and winter weather conditions, home buyers in the Stockton and San Joaquin County area are still very active.  The January trends show that the number of pending sales increased from November and December, while the inventory of homes on the market declined.

(The chart below represents the Stockton FOR SALE, PENDING, and SOLD Homes in the last 12 months)

Stockton Home for Sale Chart

 

The amount of housing inventory in Stockton CA continues to be the driving force behind this real estate market.  Take a look at this chart below.  It represents the the amount of time it would take to sell all of Stockton's housing inventory.  As of January 2017, it would only take 2.2 months.  In a normal market, housing levels should be in the 3-6 month range.  Thus, giving us a sellers market.

 



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