Unlocking Ukiah: A Deep Dive into 2023 Real Estate Trends and 2024 Predictions!

In today's video, we are going to talk about the real estate stats from Ukiah in 2023. We're going to dive deep into the average sold price each month of the year, the days on the market, if it's a buyer's market or a seller's market, and how neutral that's been. We'll also get into the overall and some of my predictions for 2024. Hello, my name is Kasie Gray. I'm a realtor, broker associate, and mother, and I love helping people love where they live. Today, we're going to talk about Ukiah real estate stats and dive deep into all of 2023 stats, giving you a little bit of a prediction of what I think might happen in 2024. So without further ado, let's get into it.

Our main problem last year was inventory, and it continues to be inventory. In August, we had the most homes for sale, 64 houses, and our lowest of the year was in February with only 39 homes for sale. The month with the most new listings was July. So if you are planning to sell your house in 2024, take note of that and try to get it on the market before the rest of the world also gets their house on the market in July. Try to beat that and get it on by March or May at the latest to beat that rush and have less competition.

As far as homes sold, the most sales happened in October, which was 21 sales in a month, and then the lowest amount of sales was in April with only eight sales. To get into the average pricing, our highest average list price month was December with an average list price of $967,000, and our average lowest price point month was September with our average list price being $824,000. Then the average sold price was pretty steady between like 380 and 460, except for 1 month in July, we had our average sold price at 625,000. And then our lowest sold price was in January of 2023, which is a surprising stat, and that was 384,000.

With a small area like Ukiah, this is just stats for Ukiah, not even like Ukiah and its surroundings. So if you have one higher price point sale versus none, then your average sold price is going to vary obviously, but it is also interesting how our active price is almost double what our average sold price is. So just kind of keep that in mind. If you are listing a house in the higher end, you must price it properly, and get an agent that's going to market it well so that you put your best foot forward and can get it sold quickly because as you can see, these houses sit on the market for longer.

Onto our average days on the market, so we saw from 50 days on the market to 118. 53 days being our lowest in April, and then 118 days being our longest in October, which is also when we had the most sales. So kind of keep that in mind. Those houses that were on the market for 118 days went on in July, and June, and were sitting there until the competition softened. So if you are putting your property on in June or July, you can expect it to be on there longer and probably not make as much versus if you were to put it on the market in the spring. So keep that in mind when you're planning to sell your house in 2024.

Now on to our last and final stat. If you have any questions about your specific area or your house price point, feel free to reach out to me at any time or visit my website to get a free market analysis. But this is months of inventory, and this is how we determine if it's a buyer's market or a seller's market. So there are a lot of different people's mindsets and numbers, but 1 to 4 months means to be a seller's market, 4 to 5 months kind of means a neutral market, and then 6 months and up means a buyer's market.

What this means is how many houses were for sale, how many you were sold, and you take that number, throw it in a mixing pot, mix it around, and that's how we get months of inventory. And that's like if no new houses came on the market, how long would it take to sell all of those houses, and that's the months of inventory that we would have left. The less inventory, the more competitive it is, and it is a seller's market, and then the more inventory we have, the less competitive it is, and the absorption rate isn't as high. Our lowest month of inventory was 2.8, and that was both in March and October, and our highest month of inventory was 6.6, and that was in May.

So that's when we had the most inventory. The number of houses for sale was 59, and we had only nine sold. So we would have about 6 months left of inventory, and that was like when it was the most buyer's market of the year. And that is also when we started to see interest rates climb and a lot of uncertainty. When buying a house, it's very important that you kind of