Friday, December 11, 2020

Sacramento Housing in November: Sales increase 22% YoY, Active Inventory down 47% YoY

by Calculated Risk on 12/11/2020 03:30:00 PM

Note that November sales are for contracts typically signed in September and October.

From SacRealtor.org: November sales volume up 21% over 2019, demand remains

November ended with 1,511 sales, down 9.8% from the 1,676 sales in October. Compared to one year ago (1,242), the current figure is up 21.7%.
...
The Active Listing Inventory decreased 9.8% from October to November, from 1,253 units to 959 units. Compared with November 2019 (2,803), inventory is down 46.8%. The Months of Inventory dropped from .7 Months to .6 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.
...
The Median DOM (days on market) increased from 6 to 7 and the Average DOM increased from 15 to 16. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.” Of the 1,511 sales this month, 86.2% (1,302) were on the market for 30 days or less and 95.1% (1,436) were on the market for 60 days or less.
emphasis added