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Real Estate Market Update

Real Estate Market Update

Real Estate Market Update

Data From May 2021

Written by Michael Blower 

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 May. Let’s look at the numbers:
 

San Joaquin County: There were 378 active listings in May 2021, compared to 794 listings in May 2020, a decrease of 52.4%. 578 listings sold this May compared to 377 in May of last year, an increase of 53.3%. During that same time period, the median home price increased by 19% from $420,000 to $500,000.

Stanislaus County: There were 293 active listings in May 2021, compared to 520 listings in May 2020, a decrease of 43.7%. 410 listings sold this May compared to 303 in May of last year, an increase of 35.3%. During that same time period, the median home price increased by 25.7% from $350,000 to $440,000.

Sacramento County: There were 859 active listings in May 2021, compared to 1563 listings in May 2020, a decrease of 45%. 1437 listings sold this May compared to 1016 in May of last year, an increase of 41.4%. During that same time period, the median home price increased by 26.3% from $396,000 to $500,000.

Solano County: There were 229 active listings in May 2021, compared to 476 listings in May 2020, a decrease of 51.9%. 401 listings sold this May compared to 333 in May of last year, an increase of 20.4%. During that same time period, the median home price increased by 16.7% from $472,000 to $551,000.

Contra Costa County: There were 434 active listings in May 2021, compared to 1025 listings in May 2020, a decrease of 57.7%. 1044 listings sold this May compared to 550 in May of last year, an increase of 89.8%. During that same time period, the median home price increased by 52.2% from $690,000 to $1,050,000.

Alameda County: There were 543 active listings in May 2021, compared to 745 listings in May 2020, a decrease of 27.1%. 994 listings sold this May compared to 433 in May of last year, an increase of 129.6%. During that same time period, the median home price increased by 37.5% from $960,000 to $1,320,000.

Inventory levels continue to fall with large decreases in the number of listings this May over last May in most of the above counties with smaller decrease in Alameda County. Also, all of the counties showed increases in the number of sales including very large increases in Contra Costa and Alameda. Finally, the median price increased in all of the counties this May over last. These numbers are very similar to what we saw last month.

This continues to be a very strong seller’s market with the 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 May 2021 statistics to those from May 2020.)

 

This article is written by Michael Blower, past president of the Central Valley Association of REALTORS and the Stockton REALTOR of the Year for 2015 and 2019. Michael is a very productive Broker Associate at RE/MAX Grupe Gold with over 19 years of real estate experience.