Ukiah Market Trends: January-November 2023 vs. January-November 2024

Ukiah Market Trends: January-November 2023 vs. January-November 2024

Hi, I’m Kasie Gray, a proud Ukiah resident and local realtor! Today, I’m diving into the Ukiah real estate market trends, comparing the numbers from January to November 2023 with the same period in 2024. Whether you're a buyer, a seller, or both, this data is essential to understanding where the market stands and how you can make informed decisions heading into 2025.

2024 vs. 2023: Key Market Insights

The Ukiah real estate market has shown some significant changes over the past year. Here’s a breakdown of the trends:

Inventory & Sales

• Homes for Sale:
  • 2024: 63 homes were available for sale.
  • 2023: 50 homes were on the market.
    Insight: Inventory increased, offering more options for buyers compared to 2023.
• Homes Sold:
  • 2024: 150 homes were sold.
  • 2023: 122 homes were sold.
    Insight: Sales activity rose, indicating strong demand in the Ukiah housing market.

Home Prices

• Average Price per Square Foot:
  • 2024: $324
  • 2023: $313
    Insight: A year-over-year increase reflects steady growth in Ukiah’s property values.
• Average Sold Price:
  • 2024: $599,000
  • 2023: $499,000
    Insight: Home prices have increased significantly, making it a favorable market for sellers to capture equity.

Days on Market

• 2024: 74 days
• 2023: 89 days
  Insight: Homes are selling faster in 2024, showcasing a more competitive and active market.

Sold vs. List Price Ratio

• 2024: 94% (e.g., a home listed for $100,000 sold for $94,000 on average).
• 2023: 93%
  Insight: Sellers are getting slightly closer to their asking prices in 2024.

Average Active Price

• 2024: $812,000
• 2023: $722,000
  Insight: The increase in active listing prices reflects growing confidence in Ukiah’s housing market.

Months of Inventory

• 2024: 4.5 months
  Neutral Market:
  • 1-4 months = Seller’s Market
  • 4-6 months = Neutral Market
  • 6+ months = Buyer’s Market
    Insight: Ukiah is currently in a balanced market, where both buyers and sellers have leverage.

What Does This Mean for You?

For Sellers:

If you’re considering selling in 2025, this neutral market presents a fantastic opportunity. The combination of rising home values and steady demand allows sellers to maximize their equity while negotiating favorable terms with buyers.

For Buyers:

While inventory remains limited, buyers still have negotiating power. In a neutral market, buyers can request credits for repairs, closing costs, or other concessions, making it a great time to secure a deal without the pressure of a competitive seller’s market.

Why Buy or Sell in a Neutral Market?

A neutral market provides the best of both worlds:

• Sellers: You can capture the equity you’ve built while still attracting motivated buyers.
• Buyers: You can negotiate favorable terms on your purchase without the challenges of a seller-heavy market.

If you're planning to sell your home and buy another, this balanced market allows you to make the transition smoothly without losing leverage on either side of the transaction.

Ukiah’s Growing Real Estate Market

Ukiah continues to grow as a desirable place to live, making it an excellent location for long-term investment. With rising prices and steady demand, your equity is likely to grow over time.

While some homes are selling below their original list price, others are breaking records in certain neighborhoods. This highlights the importance of partnering with a knowledgeable advisor who can provide you with data-driven insights to help you make informed decisions.

Is It the Right Time for You?

The answer to whether you should buy or sell depends on your unique situation and goals. As your trusted Ukiah real estate expert, I’m here to help you navigate the market, whether it’s determining your home’s value, identifying opportunities, or creating a strategy to achieve your real estate goals.

What’s Your Home Worth?

Curious about your home’s current value? Use the link below for a free home value estimate. Want a more detailed, personalized valuation? Reach out to me directly with a few details, and I’ll provide you with a custom analysis.

👉 Get Your Free Home Value Estimate Here

Let’s Connect

If you have questions about the market, buying, selling, or just want to chat about Ukiah real estate, I’m here to help. Reach out anytime:

📞 Call/Text: 707-391-7967
📧 Email: kasie@kasiegrayrealtor.com
🌐 Website: www.kasie.realtor

Final Thoughts

The Ukiah real estate market is thriving, offering opportunities for both buyers and sellers. Whether you’re looking to maximize your home’s equity or find a great deal, 2024 has been a year of growth and opportunity.

As we head into 2025, staying informed about these trends will help you make the best real estate decisions. With the right guidance, you can navigate this neutral market with confidence and achieve your goals.

Thanks for reading, and I’ll see you in the next update!

Cheers to a successful 2025!