Happy God blessed Thursday!
The market is rolling in the San Joaquin County and Lodi and Stockton housing markets are on fire!
Deals are happening everyday by the truck loads!
Lodi, Ca Market Report
Period: June 1, 2024 - June 26, 2024
Overview
The real estate market has shown mixed performance across various metrics when comparing the current period to the previous month, the same period last year, and year-to-date (YTD) figures.
The data highlights significant changes in the number of properties for sale, sold, pended transactions, and the average square footage price of sold properties.
Key Metrics
For Sale
- Current Period (June 1, 2024 - June 26, 2024): 85 properties
- Previous Month (May 1, 2024 - May 26, 2024): 77 properties**
- % Change: 10.4% increase
- Same Period Last Year (June 1, 2023 - June 26, 2023): 47 properties
- % Change: 80.9% increase
- YTD Comparison:
- 2024: 85 properties
- 2023: 47 properties
- % Change: 80.9% increase
The number of properties for sale has seen a notable increase both month-over-month and year-over-year. The 10.4% increase from the previous month suggests a growing inventory, while the 80.9% increase from the same period last year indicates a significant expansion in the market's supply.
Sold
- Current Period (June 1, 2024 - June 26, 2024): 27 properties**
- Previous Month (May 1, 2024 - May 26, 2024): 44 properties
- % Change: 38.6% decrease
- Same Period Last Year (June 1, 2023 - June 26, 2023): 25 properties
- % Change: 8% increase
- YTD Comparison:
- 2024: 230 properties
- 2023: 192 properties
- % Change: 19.8% increase
The number of properties sold has decreased significantly by 38.6% compared to the previous month.
However, there is a modest 8% increase compared to the same period last year, and a notable 19.8% increase in YTD figures, indicating stronger overall sales performance this year.
Pended
- Current Period (June 1, 2024 - June 26, 2024): 48 properties
- Previous Month (May 1, 2024 - May 26, 2024): 37 properties
- % Change: 29.7% increase
- Same Period Last Year (June 1, 2023 - June 26, 2023): 39 properties
- % Change: 23.1% increase
- YTD Comparison:
- 2024: 266 properties
- 2023: 210 properties
- % Change: 26.7% increase
The number of pended properties has increased by 29.7% compared to the previous month and by 23.1% compared to the same period last year. The YTD figures also show a strong 26.7% increase, suggesting a healthy pipeline of transactions that are in progress.
Average Square Footage Price (Sold)
- Current Period (June 1, 2024 - June 26, 2024): $339
- Previous Month (May 1, 2024 - May 26, 2024): $348**
- % Change: 2.6% decrease
- Same Period Last Year (June 1, 2023 - June 26, 2023): $289**
- % Change: 17.3% increase
- YTD Comparison:
- 2024: $334**
- 2023: $312**
- % Change: 7.1% increase
The average square footage price of sold properties has decreased by 2.6% compared to the previous month, suggesting a slight drop in property values.
However, there is a significant 17.3% increase compared to the same period last year and a 7.1% increase in YTD figures, indicating a longer-term upward trend in property prices.
Conclusion
The real estate market for the current period shows a healthy increase in the number of properties for sale and pended transactions.
The number of sold properties has declined compared to the previous month but still shows growth compared to the same period last year.
The average square footage price of sold properties has decreased slightly month-over-month but shows strong growth year-over-year and YTD. Overall, the market demonstrates robust activity and rising property values in the long term!
**For additional information and insights regarding your city or neighborhood, please inform me, and I will provide you with a detailed report specific to your neighborhood.