January 2023 Ukiah Market Update | THE TRUTH ABOUT THE STATS

If you are so interested in what is truly going on in the real estate market in Ukiah, this is the perfect video for you because I'm gonna break down the January stats compared to the year before and the month before. Let's get into it!

Hi, my name is Kasie Gray, I'm a realtor, broker associate, and mom, and I love helping people enjoy their life in Ukiah. So I help first-time sellers buy their dream homes. There were 37 houses for sale in the month of January 2023 and in December 2022. There were 43 houses for sale so the number of houses that were for sale went down compared to the year before when there were only 39 houses on the market.

We haven't shifted a ton compared to inventory wise but when it comes to houses that are selling nine houses sold in the month of January. In the month of December, eight houses were sold, and then in January 2022, 16 houses were sold. So, almost half of what was sold in January of last year was sold this year. So things are definitely slower this year compared to last the average price per square foot in January of 2023 was 283 dollars. In December of 2022, it was 303 dollars and on January 22 it was 362 dollars. So it is down almost a hundred dollars a square foot compared to the year before.

As far as days on the market goes, this is a stat that's pretty interesting. So in January of 2023, the days on the Market were 126. The average time that it's going to take you from the day that you put the sign in the yard and list your house to the day that you close is 126 days and that's like a third of a year. So if you're thinking about selling your home soon and are hoping for a quick sale you're going to really want to make sure that who you're hiring is going to be able to advise you in the best way possible because you do not want to be on the market for 126 days. I mean no one does. That is so stressful and it will definitely lead to a stressful sale for everybody involved.

In December it was 101 days so a little bit less and then in January of 2022, it was only 61 days. So it doubled since the year before of days on the market the average active price in January of 2023 was 730 000. In December 2022, 691 thousand dollars, and on January 22 it was 649,000. So it's gone up average active price but that could just mean one Million Dollar Listing went up onto the MLS and it doesn't necessarily reflect all of the averages but definitely interesting what is the most interesting about that stack is what we're going to compare it to is the average sold price.

So in January of 2023, the average sold price in Ukiah was only 381 thousand dollars whereas in December it was 733 000 in January of 2022 558,000. It went down astronomically from the month before and that's probably because all of the houses that sold were under 400.

Keep in mind this is only a captive number of nine sold houses. So nine out of the nine houses that sold the average was 381. I think this is very interesting because of what you know we could have afforded a year ago. Two years ago on a two-three percent interest rate now we're at a five percent interest rate and stats have to adjust for that. When it comes to months of inventory, this is how we tell what type of Market, it is zero to four months buyers Market, four to six months neutral Market, and six months and up seller's market.

So in January of 2023, it was 4.1 months of inventory in December of 2022 it was 5.4 and then in January it was 2.4. So like I said, things are coming on inventory fewer things are selling less almost half of what it was the year prior. January is typically a slower month because we're getting out of the holidays navigating that but it's still definitely interesting that it went down from the month before. That's due to not as much inventory coming on but hopefully, we'll see some more inventory come on soon because people are definitely looking, and definitely buying, it's just a matter of that there being no houses for sale right now.

If this was interesting to you or you would like to have these stats before a different neighborhood, feel free to reach out I am always available to help you understand what's going on in the market!