The Blog: David McKeever

2018's TOP 10 Most Expensive Sold Home in Stockton CA

Stockton, CA:

In 2018, of 7 of the top 10 most expensive sold homes were found in the Brookside Country Club neighborhood.  The remaining three homes were sold in the east side of Stockton, where the homes were built upon multiple acres of land.

 

THE NUMBERS:

  • 7 of 10 sold homes were in Stockton's Brookside community
  • All 10 homes sold for over $1,000,000
  • The average square footage was 4,374
  • The average price was $1,502,050

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  • The largest home was 6,680 square feet
  • The large lot size was 19.760 acres
  • The most number of bathrooms was 7

Considering a move in the near future?  Have questions about selling your home? Contact #1 voted agent*, David McKeever at (209)483-6523

* David was voted "Best Realtor" in the Best of San Joaquin Award in the years 2017 and 2018.

 

What Happened in the 2018 Stockton CA Real Estate Market?

Stockton CA:
In this review of the Stockton CA housing market we will take a look a 3 key housing metrics to judge how the year of 2018 went in Stockton.  I'l review the total number of sales, average sold prices and the days on market indicator to evaluate the strength of this market going into 2019.

 

In 2018 there were 3130 homes which sold.  This is an 11% drop in transactions vs 2017 which saw 3500 sales.  I believe the leading cause of the decrease in sales were from two reasons.  1.  In the first 4-5 months of the year, we had very low inventory of homes for sale (see chart below) which made it difficult for home buyers to find the right home.  2.  Mortgage interest rate climbed in the mid to end of 2018 making it more difficult to afford the same home as in 2017.

 

The average sold home in Stockton in the month December 2017 was priced at $303,000.  The average sold home in Stockton increased over the course of the year peaking in April and June at $327,000.  A strong return.  However, in the last two months of 2018, the sold home price decreased to $304,000. I fell that comparing just the two December months isn't a good indicator of the true return in 2018. 

To get a better idea of the home appreciation in 2018 in Stockton Ca lets take a look at the average price per square foot statistic.  Below is a 2 year chart of the average price per sq foot in Stockton CA.  It show quite a positive return over the last two years.  In December of 2017, the average price per sq ft was $177.  In December of 2018, we ended the year at $187 per sq ft.  That's an 5.6% increase in this statistic and, in my opinion, more realistic of the true appreciation we saw in the Stockton Ca real estate market.

Lastly, I wanted to show the days on market trend in Stockton.  Days on market is the indicator and length it takes for a ACTIVE home on the market to go PENDING.  Below is a 3 year chart of this trend in Stockton.  The Days on Market in the last quart of 2017 was at 36 days.  The last quarter average in 2018 it took about 40 days to sell a home.
 

You will notice below that in each of the last 3 years, a trend has repeated it self in the winter months of November - February, where the days on market trend increases.  With the shifting housing market, this trend will be watched very closing in the coming months as we enter the spring season.

For further information or to get and idea of what your Stockton CA home is worth, contact David McKeever, Stockton Real Estate Broker and Realtor.

David is a recent recipient of the BEST REALTOR in the Best of San Joaquin awards for the years 2017 & 2018, and 5 year member of the Lodi Associations Master Club award winners.

 

Real Estate Market Update - October 2018 Stockton CA

Stockton Ca: 

The number of newly listed homes for sale in Stockton rose to 696, a slight increase vs 693 in September.  This marks the 8th straight month were the amount of newly listed homes increased.  This is great news for home buyers who have struggled to find homes in the past few years.  

 

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The inventory of homes have been at record lows in the past few years, so this is a welcomed sight to see for those looking for just the right home to buy in Stockton.

 

Another positive sign for the Stockton Real Estate market is the pending sales also rose in October of 2018.  Up 12% from September 2018.

The average sold price in Stockton California in October 2018 was $324,000.  Up from September 2018 which saw the average home sold price in Stockton at $315,000.  However, the average price trends in Stockton are a Neutral trend.  As you can see from the chart above, him prices have level off since it reached the $320,000 level in March of 2018.

For more information about you Stockton Home, contact real estate Broker, David McKeever at 209.483.6523

David is a Lodi Association of realtors Master Clubs award winner and has been voted the 2017 & 2018 Realtor of the year at the Best of San Joaquin County Awards.  



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