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Friday, October 11, 2019

Sacramento Housing in September: Sales Up 5.7% YoY, Active Inventory DOWN 24% YoY

by Calculated Risk on 10/11/2019 07:47:00 PM

From Sales volume declines for September, median sale price flat

September closed with 1,393 sales, an 11.1% decrease from August’s 1,567 sales. Compared to September 2018 (1,318), the current figure is up 5.7%.
The Active Listing Inventory decreased slightly from 2,460 to 2,457 units. The Months of Inventory increased from 1.6 to 1.8 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory. [Note: Compared to September 2018, inventory is down 24.1%] .
The Median DOM (days on market) remained at 12 and the Average DOM remained at 25. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.” Of the 1,393 sales this month, 74.2% (1,034) were on the market for 30 days or less and 90.1% (1,246) were on the market for 60 days or less.
emphasis added
1) Overall sales increased to 1,393 in September, up from 1,318 in September 2018. Sales were down 11.1% from August 2019 (previous month), and up 5.7% from September 2018.

2) Active inventory was at 2,457, down from 3,236 in September 2018. That is down 24.1% year-over-year.  This is the fifth consecutive YoY decline following 20 months of YoY increases in inventory.

This is another market that picked up in September.