2020 has taken us all for a ride, with changes like social distancing, remote learning, working from home, and a lot more! But how has it changed the real estate market?
This week’s market report focuses on the number of active listings, sold listings, and the median price of single-family residences in San Joaquin County and some of the other counties in the region for the month of November. Let’s look at the numbers:
San Joaquin County: There were 370 active listings in November 2020, compared to 1214 listings in November 2019, a decrease of 69.5%. 599 listings sold this November compared to 557 in November of last year, an increase of 7.5%. During that same time period, the median home price increased by 16.9% from $385,000 to $450,000.
Stanislaus County: There were 356 active listings in November 2020, compared to 711 listings in November 2019, a decrease of 49.9%. 441 listings sold this November compared to 410 in November of last year, an increase of 7.6%. During that same time period, the median home price increased by 19.3% from $327,000 to $390,000.
Sacramento County: There were 849 active listings in November 2020, compared to 1741 listings in November 2019, a decrease of 51.2%. 1449 listings sold this November compared to 1245 in November of last year, an increase of 16.4%. During that same time period, the median home price increased by 15.3% from $385,000 to $444,000.
Solano County: There were 252 active listings in November 2020, compared to 613 listings in November 2019, a decrease of 58.9%. 433 listings sold this November compared to 389 in November of last year, an increase of 11.3%. During that same time period, the median home price increased by 11.1% from $450,000 to $500,000.
Contra Costa County: There were 591 active listings in November 2020, compared to 1002 listings in November 2019, a decrease of 41%. 1049 listings sold this November compared to 747 in November of last year, an increase of 40.4%. During that same time period, the median home price increased by 27.6% from $635,000 to $810,000.
Alameda County: There were 524 active listings in November 2020, compared to 637 listings in November 2019, a decrease of 17.7%. 945 listings sold this November compared to 684 in November of last year, an increase of 38.2%. During that same time period, the median home price increased by 16.7% from $900,000 to $1,050,000.
Inventory levels continued to fall with large decreases in the number of listings this November over last November in all of the above counties. Also, all of the counties showed increases in both the number of sales and median price this November compared to last.
This continues to be a very strong seller’s market with a lack of inventory and high buyer demand. Now is truly a great time to sell. If you are looking to buy or sell a home, be sure to use the services of a REALTOR.
(All of the market information in this report was obtained from information published in the MLS and compares November 2020 statistics to those from November 2019.)
