Ukiah Real Estate Market Update: July 2023 Insights

It's been a while since I've shared the monthly stats for the Ukiah area, so let's dive right into it. If you're curious about the current state of the market and whether it's the right time to buy, this video is for you.

Hello, I'm Casey Gray, a realtor, broker associate, and a mom. My passion is helping people find their dream homes in Ukiah, California. To make informed decisions, it's crucial to stay informed about the local real estate market. So, let's get started.

Inventory Overview:
- In July 2023, there were 49 homes listed for sale, a slight increase from 43 in June 2022. However, compared to July 2022, when there were 62 homes on the market, we've seen a decrease of about 10 houses.

Home Sales:
- In July 2023, 18 homes were sold, compared to 10 in June 2023 and 13 in July 2022. This indicates an uptick in sales, reassuring news for those considering a purchase.

Price Per Square Foot:
- The average price per square foot in July 2023 was $443,000, up from $431,000 in June 2023 but slightly down from July 2022's $450,000. It's important to note that this metric can be influenced by larger or higher-end listings.

Days on Market:
- The average number of days on the market in July 2023 was 71, down from 75 in June 2023 but not quite at the level of 66 days in July 2022. Homes are selling faster, indicating a more dynamic market.

Average Active Price:
- In July 2023, the average active price was $822,000, a decrease from $879,000 in June 2023 but notably higher than July 2022's $640,000. This fluctuation could be due to specific listings.

Average Sold Price:
- July 2023 saw an average sold price of $640,000, up from $480,000 in June 2023 but down by $15,000 compared to July 2022. The increase from June suggests resilience in the market.

Months of Inventory:
- The months of inventory metric indicates market conditions. In July 2023, we had 2.7 months of inventory, down from 4.3 in June 2023 and 4.8 in July 2022. We haven't entered a buyer's market, but inventory is tightening.

As the real estate landscape evolves, sellers seem to be pricing their homes more accurately, leading to increased sales. While market conditions are dynamic, Ukiah remains an attractive place to call home. For more in-depth insights and guidance, be sure to subscribe and grab your free guide to unlocking Ukiah in the description below. Thank you for tuning in, and I'll see you in the next update.