San Joaquin County Market Report: August 2024
Overview: The real estate market in San Joaquin County continues to show positive growth with a few fluctuations in activity compared to previous periods.
Here's a breakdown of the latest data, highlighting the trends we're seeing in the market:
For Sale Properties:
Current Period (8/1/24 - 8/20/24): 992 properties
Previous Period (7/1/24 - 7/20/24): 961 properties
Change: 3.2% increase
Same Period Last Year (8/1/23 - 8/20/23): 605 properties
Change: 64% increase
The number of homes for sale has seen a steady increase, both compared to the previous month and the same period last year. The 64% year-over-year growth indicates a more robust inventory, offering buyers more options in the market.
Sold Properties:
Current Period (8/1/24 - 8/20/24): 232 properties
Previous Period (7/1/24 - 7/20/24): 256 properties
Change: 9.4% decrease
Same Period Last Year (8/1/23 - 8/20/23): 226 properties
Change: 2.7% increase
While there was a slight decrease in the number of sold properties compared to last month, sales have increased by 2.7% year-over-year. This indicates a consistent demand, despite the expanding inventory.
Pended Sales:
Current Period (8/1/24 - 8/20/24): 294 properties
Previous Period (7/1/24 - 7/20/24): 289 properties
Change: 1.7% increase
Same Period Last Year (8/1/23 - 8/20/23): 238 properties
Change: 23.5% increase
Pending sales are also on the rise, with a 1.7% increase compared to last month and a significant 23.5% increase compared to the same period last year.
This suggests that buyer activity is strong and likely to continue driving the market forward.
Year-to-Date (YTD) Comparisons:
For Sale: Up 64% (992 in 2024 vs. 605 in 2023)
Sold: Up 4.6% (3,031 in 2024 vs. 2,897 in 2023)
Pended: Up 6.8% (3,316 in 2024 vs. 3,104 in 2023)
The year-to-date data reflects an overall healthy and growing market in San Joaquin County. The significant increase in properties for sale provides a wider selection for buyers, while the rise in pended and sold properties demonstrates ongoing demand and market activity.
Conclusion: San Joaquin County's real estate market is on a positive trajectory, with growing inventory and sustained buyer interest.
Whether you're buying or selling, it's an opportune time to engage with the market.
At Berkshire Hathaway, we’re committed to keeping our clients informed with the latest market insights and providing unparalleled representation to ensure the best outcomes in every transaction.