The Blog: Stockton Realtor

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.

 

Our Newest Listing has been Transformed!

Stockton CA: 

Our newest listing on 9744 Fountain Valley Way, Stockton CA, 95209 went through some eye-catching changes before it become on the market.  This home was built in 1988 and our client is the original owner.  The home located in the Stonewood Estates community in Stockton, is in great shape, but over the years the owner, like many of us do, retained a lot of unnecessary items including furniture, accessories and then some.

We suggested a lite staging in order to make his home shine its best when it was listed for sale.  He was open to the idea.  Our client need a lot of help getting his home ready for sale. Some of the changes and staging we helped with in order to get his home ready were:

  • Added New sod in the back and plants in the front
  • Removed unused and extra furniture
  • Removed date window coverings
  • Added fresh linens in the bedrooms and bathrooms
  • Hung artwork, some provided by his wife whom was a painter
  • De-cluttered the kitchen and bedrooms of any un-needed items
  • Added pillows and decor to bedrooms and bathrooms
Before After


We believe that if you are going to sell your home and want to maximize its value, lets take the time, energy and effort to make it looks its best as possible.  Not all staging needs to be expensive.  We help you utilize what you currently own to make your homes looks its best! 

For more information on this process on how to make you home shine when your ready to sell, contact David McKeever.  (209)483-6523

David McKeever was named Realtor of the Year in both 2017 and 2018 in the BEST of San Joaquin awards.

Stockton Real Estate Market Update - August 2018

Stockton CA: David McKeever, Broker with McKeever Real Estate in Stockton, and Richard Hundley, Broker cover the latest real estate housing trends for the city of Stockton CA.

The amount of new listings in Stockton Ca rose 15.9% in August 2018 vs July 2018.  There were 677 newly listed homes.  There were 369 pending homes, which was a 37% change vs July 2018.  The big difference could have been due to the lackluster June and July months being so inactive. 

The average asking price and average sold price trends in Stockton CA are showing a NEUTRAL trend Stockton.

DOM: The days on market trend went up to 33 days vs 24 in July 2018.



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