March 2023 Ukiah Market Update: Analyzing Trends & Real Estate Growth | Ukiah CA | Realtor Mom

As spring quickly approaches the market is definitely heating up, unfortunately, we still have a lot of rain in the forecast but the real estate market has some interesting stats that I wanted to go over with you guys today or whatever day you're watching. This is probably not the same day because I'm definitely not going to upload this today anyways. Let's get into it!

Hi, my name is Kasie Gray, a realtor broker associate, and mom, and I love helping people love where they live. So today we're going to be talking about the market stats for the month of March in Ukiah for 2023. So what I'm going to do is compare March of 2023 to February of 2023, that's the month prior, to the month of March in 2022.

So the year prior so what we're going to go over is the amount of homes that were for sale in March of 2023. There were 41 homes for sale. On February of 23, there were 37 homes for sale and on March of 22, there were 45 homes for sale. So we've got an increase in inventory from the month before it is down from the year before but we are finally picking up with the sales.

In March of 2023, we had 14 homes sold which is our first time double digits sold homes in a long time. In February of 23, there were only nine homes sold but in March of 2022, there were 25 homes sold. So what we can do with that for sale versus sold amount is determine the amounts of inventory. So that leads us back into a seller's market anything under four months is a seller's market and that gives us 2.9 months of inventory whereas the month before it was 4.1 months of inventory and the year before 1.8 months of inventory. So not quite back to that speedy process before the rates went up but definitely seeing an increase in the amount of homes that are selling.

When it comes to the average price per square foot in March of 23 it was 282 dollars in February it was 320 and in March of 22, it was 337 about 50 a square foot down from the month before and the year before. The average active price was 787 000 dollars, on February 23, it was 783 000 and on March 22, it was 725 000. So consistent in those 700 ranges but the average sold price is where it really counts and the average sold price in March of 23 is 487 000 and in February it was 491 000 and in March of 22 it was 555 000.

So down quite a bit from the year before not too much of a difference from the month before but one thing that I didn't discuss a little bit further was the days on the market we're finally out of triple digits and into 89 days on the market. So that timeline if you're a seller is definitely shortening if priced well and competitively and that concludes our stats. As I said, we are back into a seller's market with the months of inventory being at 2.9 versus what it was the month before at 4.1.

So hopefully we'll see some more inventory see some more home sell and see some movement in the market and just goes to show that people are still buying homes. If you have any questions about getting pre-approved and what your home is worth in today's market feel free to reach out or visit the links down below to get my complete guide on how to sell your home or buy a home or do both at the same time!