June Real Estate Market: What Buyers and Sellers Need to Know!

Not only is the weather heating up the real estate market in Ukiah is as well, I'm going to give you the rundown on all of the current statistics and trends that we're seeing in Ukiah and how things are selling, how fast they're selling, and how much they're selling for. So, let's get into it!

Hi, my name is Kasie Gray, I'm a realtor, broker Associate, and mom and I love helping people live in Ukiah because it is where we live. So, why not enjoy it and it has been a minute since I did a statistics video a few months but I'm back and ready to help you understand what today's market is looking like whether you're a seller or a buyer and what that means for you. So let's get into it!

We'll be comparing June of 2023 to May of 2023 and to June of 2022. In June of 2023, the number of homes that were for sale was 44 compared to 53 the month before and 62 the year before. We have a down-trending amount of inventory a lot more was selling it last year as well. In June of 2023, nine houses were sold. In May of 2023 seven houses were sold there were nine houses for sale. In May, there was in June yet still less selling. So things are picking up but in June of 2022, 17 houses sold.

So we are down about eight sales since the year before and then when it comes to price per square foot, in June of 2023, the average sold price per square foot was 296. So, out of the threes in May of 23, it was 288 and in June of 2022, it was 370. That's 74 dollars less a square foot that we're getting this month than we were getting the year before and while I don't love to use price per square foot as a measuring guide for each individual house because it really is dependent on the house the condition, the quality of the neighborhood, all of those different things.

It is very interesting to see the difference from the month before which is good for you. If you're a seller for days on the market, we are sitting at 80 Days on the market it average and that's including escrow and whatnot. So that's not just days sitting active on the MLS and then in May of 23 the average was 109 and in June of 22, the average was 68 so things were selling a lot quicker last year than they are this year and the average active price in June of 23 was 880,000.

So that is pretty high for our area if you've been watching my market updates typically we're around six or seven in such a small quantity of homes of 44. You know, it could just be the difference of one extra million dollar house but it's definitely interesting in May of 23 the average active price was 837,000, and then in June of 22 the average sold price was six hundred and fifteen thousand dollars and the average sold price in June was 477,000.

So a bit lower than our active price which kind of shows you that those higher-end homes aren't selling as quickly because they are definitely affecting our active price in May of 23 the average sold price was 495 000 and in June of 23 22 it was 634,000. So June's active price which was 615 compared to June's sold price 634 is a lot closer than 880 compared to 477.

Now, on to the best part of all months of inventory. If you're new here once of inventory is what determines it to be a buyer's market or a seller's market. If it's one to four, it's a seller's market. If it's four to six, I call it a neutral market, and if it's six and up then it is a buyer's market.

So, in June of 23 we are back down to 4.6 months of inventory, whereas in May of 23, it was 6.8. So, heavily a buyer's market we're out of that neutral Market Zone in May and that is due to the large number of listings for sale versus the low amount that's sold, and then in June of 22 the months of inventory was 3.4. So a seller's market we're currently in a neutral Market which is good.

Someone was asking my opinion on the market and what a bunch of new houses would do talking about the new construction and personally as both a buyer and a seller. You know someone who helps both of those people and you know invest in the market myself I find that a neutral Market is fair for all I don't want to have to be running around writing 842 offers for one client and not being able to get it because of you know being outbid and I also don't want to have my listing sit for 300 days. I am perfectly content with a neutral Market. I do not think it is necessary to have zero inventory coming on and a lot of houses selling.

I do think that the demand is there the US is severely lacking housing for all types of people. So, I don't think that new housing can hurt anyone. I do think that will make things a bit more competitive if you're a seller, you're going to have to do a bit more work before you put it on the market because people are getting pickier and pickier.

So, that is my opinion if you're looking to sell a house, reach out to me I can give you a free analysis of what your home might be worth and that is changing constantly. So, if I gave you one of those six months ago it could be completely different than it is today and then if you're looking to buy don't overthink it just talk to a lender get pre-approved to get a budget get a savings plan.

If that's something that's necessary and let's get you in the market the best way to get in the market is to start especially if you're currently renting it's no fun with that looming fear of being able to get affected or not having pets or not being able to paint your wall pink if you want.

So, reach out to me if you have any questions about buying or selling or about what's going on in Ukiah, and check out my July guide to all the events and other things going on!