The volume of home sales in January 2015 decreased 29.4%, from 1,313 homes sold in December 2014 to 927 homes sold in January. The 927 Sacramento area homes that were sold in January is also down 5.2% from the 978 Sacramento area homes sold a year ago, in January 2014.
The average number of days on the market for homes sold in January was 41, and represents the number of days between the initial listing of the home and the day it went pending.
These January home sales figures for the Sacramento area, although very low, are in line with similar low home sales figures virtually every January. Looking back at Sacramento home sales data the past 25 years, the average drop in home sales from December to January is 25.6%, so a drop of 29.4% isn’t out of line relative to the historical average.
The average sales price for Sacramento area homes in January was $283,437, down 3.7% from $294,177 in December. Year-over-year, the average sales price in January was up 4.8% from $270,581 in January 2014.
The reduction in January home sales actually increased the inventory of homes for sale in the Sacramento area from 1.8 months of inventory in December, to 2.6 months of inventory in January. Last year at this time, there were exactly two months of inventory. The months of inventory reflects the number of months required to deplete the current inventory at the current sales rate.
If you are searching Sacramento homes for sale or if you are considering selling your Sacramento area home, feel free to contact me for a free home valuation and to discuss your options.