Welcome to the Stockton, CA. housing market update for March 2022. Each month we take a look back at the previous month to see what is trending in the housing market and what that can tell us moving forward.

Chapters
0:00 Housing Market Introduction
0:21 Homes for Sale, Sold and Pending
2:08 Average Sold Price in Stockton
3:23 Days on Market
5:28 Months of Inventory

Looking at our first chart we can see the pending home sales had a huge increase from 217 to 265, while the number of sold homes in Stockton fell from again from 210 to 196. Unfortunately, there was also another dip in the number of homes placed on the market for sale. This number fell from 181 down to 162. The number of pending sales shows that there is strong buyer demand for homes, but with fewer homes to choose from. Taking a look at the next chart could show what this low inventory is doing to home prices in Stockton.

Looking at the average sales price in Stockton, we can see that prices rose about 9% as the average sales price went up from $428,000 to $463,000. This trend is in line with the high buyer demand and lower inventory. If you are currently a homeowner, this is good news as you have seen your home increase in value.

Looking quickly at the days on market for Stockton, we can see that homes are selling similarly to last month, being on the market for an average of 29 days before going pending. These days on market could be a little deceptive, if many homes are going into multiple offer situations, there could be days spent just processing all of the offers. That could make it appear that homes are taking a little longer to sell than they actually are. Sellers may not be waiting to get the right offer, they might be spending more time going through all the offers to pick the one they want to take.

The other important thing to note on this chart is that homes are starting to sell over the asking price again, with the sales to price ratio coming in at 101%.

Looking at our months of inventory chart can help tell why homes are selling for more than the asking price. The months of inventory dropped from .8 down to .6. This shows how few homes are currently for sale, and with buyers looking for homes, the prices begin to go up.

[ Search for Homes here: http://bit.ly/2PipaJq ]

If you have any questions about the housing market or the value of your home, feel free to contact me.

Schedule a 15 Min Call with me: https://bit.ly/2yr1QoR​

Thank you,
David McKeever
m | 209.483.6523
Broker | Advance 1 McKeever Real Estate
Voted "BEST REALTOR" 2019& 2020 Best of San Joaquin County Awards

Lets Connect on Social:
WEBSITE: http://www.Mckeeverrealestate.com​
FACEBOOK:   / stocktonrealtor​  
INSTAGRAM:   / ​