Hey welcome back thank you so much for Joining me in today's video this is part Two of my two-part video series I make Each and every uh month regarding the California housing market if you missed My previous video which was posted a few Days ago I talked about what's happening Right now at this Statewide level but in Today's video I'm going to talk about What's happening at the countywide level Uh this is based on the latest data we Have from the California Association Realtors uh just posted last week let's First talk about home sales and then We'll talk about home prices and hous Inventory and again I'll talk about the 53 counties that the California Association rer tracks each and every Month it says 33 of the 53 counties that Car tracks recorded a sales decrease Compared to one year ago so the vast Majority of uh counties in California Are experiencing decreases in home sales Year-over-year now 21 of these 53 Counties are down by more than 10% % and Whereas eight are down by more than 20% Year-over-year this really caught my Attention because overall uh Statewide We're up by about 25% more houses for Sale so even though we have a lot more Houses for sale sales overall are down On a year-year basis uh which is likely Due to the fact that rates have Increased so much over the past one year
At the time of filming this video which Is at the end of April average 30-year Fix rates are around uh 7.4 to 7.5% one year ago we were actually in The sixes any case looking at these uh 53 counties uh 20 of them posted an Increase though year-over-year uh plumis County just north of Sacramento where I Live and work as a real estate agent um Plumis um is up by whopping 220% uh that was one of the counties That um absolutely surg um uh right at The onset of Co a lot of people moved There uh due to to work a home work at Home arrangements and of course because It's a lot more affordable there Compared to or housing is a lot more Affordable there compared to the San Francisco Bay Area um after that we had Mono County increasing by 120% and then Mariposa has saw a gain of 56% in Regards to home prices at the Statewide Level we're up by about 8% Year-over-year but home prices it says Continue to show Improvement in many Counties so 39 counties of the 53 um Posted an increase in their meeting so Price from a year ago Mono County um Surged by 67% uh then we have cisq and Santa Barbara Mono County as well as cscq Counties their um sales and price Variations um do vary quite a bit uh due To the Mixon sales and also due to a
Relatively low level of home sales in Those areas but Santa Bara is notable Though a giant increase of 32% Uh meanwhile 13 counties recorded a Decrease in their median home sale price From uh one year ago and that was back In March of 2023 and the county in California that decreased the most was Menino down by 24% and that was Follow By Trinity and Lake County all right Before I share some slides with you guys Regarding um what's happening right now I also want to talk about inventory Really quickly here so active listings In other words the amount of houses for Sale in California de increase from a Year ago in only two counties so Whether's there what 51 of the 53 Counties posted a gain of active Listings whereas only two uh decrease so Glen County posted the biggest Year-over-year decrease at down by only 4% that was followed by San Francisco Then we have 48 counties excuse me there Must be some that flat so 48 counties Recorded a year-over-year gain Salon County jumping the most up by whopping 98.7% then we have Santa Barbara up by 96% and Sacramento up by 70% also like I mentioned new active Listings um have been increasing as well Have been increasing for the past three Consecutive months by double digits as More home sellers are listing their
House of first sale ahead of the spring Home buying season all right I want to Share some slides with you guys Regarding what's happening right now at The Statewide level and we'll compare That to what's happening at the regional Level there's a approximately 5 to seven Uh major regions that the um that car Tracks so I'll share that with you guys So at the Statewide level home sales are Down by 4.4% your year uh also the Median sold price just under 855,000 That's up by 8% uh from uh March of 2023 and like my video I mentioned a few Days ago this is quite reversal because Um back in March of 2023 compared to March of 2022 home sold prices decreased by 6.8% so one year ago year- year it was Down by 6.8% now it's up by 7.7% also the month supply is only at 2.6 months that is an increase though by Quite a bit up by 24% and house is Selling faster from one year ago uh Dieson Market is at 19 days overall uh But again every housing Market's Different right so here is SoCal home Sales down by 7.8% compared to the Statewide average down by 4.4% um prices there have been surging Though up by 11% um prices at $850,000 There uh unsold inventory decent market And also the sales price to final list Price ratio at 100% that is on par with
The state R average as well also at 100% That means on average for the houses That did close escrow um this um March They sold for the sellers final list Price on average uh also we have the Central Coast prices are at 950,000 Right now um but that's only up by 3% From 12 months ago that is an increase Of course but the smallest gain of the Five biggest regions that the California Association T tracks um home sales are Up by 7.2% so higher compared to the Statewide average and these other Metrics below here are on par with SoCal As well as the state as a whole the Central Valley including Sacramento uh Sales are down by 99.6% compared to the 4.4% decrease at the Statewide level uh It's more affordable region of course We're only at uh approximately 479,000 And that's up by 5.2% year of a year These other metrics also imp par as well With these other regions the barria Different animal sales down by 5.4 look At this though the existing home sell Price just under 1.4 Million that's approximately $1 million Higher than the Central Valley uh it's Up by$ 15.5% um which is pretty crazy because This is the biggest uh median St price But also the biggest year- of your gain As well up by 15.5% compared to the nearly 8% gain at
The Statewide level level uh Uno unso Inventory index as well as St in the Market um um very fast uh 13 days on Average what was the state as a whole The state as a whole was 19 days so Houses selling uh fairly rapidly in the Bay Area and this ratio at 103% means That houses on average sold for 3% over Asking which is um entirely normal to See the Bay Area have a high ratio Because for whatever reason houses get Listed for far less than market value so It's AB normal to see houses selling for Over the sellers asking price one more Region I want to share with you guys That's a far north which happens to be In the far north of California uh sales Down by 4% uh prices up by 5.6% uh the unsold inventory index uh Days in the market and this ratio tend To be a lot softer compared to other Regions that is normal I've been seeing That for uh quite some time um all right Let's have a look at sales by region so For all the sales that occurred this March 46% came from SoCal uh the Central Coast only represented 4% the Bay Area At 20% uh the Central Valley at 22% in The far north you only at 2% of all home Sales occurred there this March Carr Also provided this as well this is the Amount of home sales by region uh the Blue line is a year- of your change so The only region that posted a gain in
Home sales was this Central Coast Post In contrast all the other regions posted Decreases in fact the biggest decrease Is actually in the Central Valley um the Month-to Monon changes this is a change In home sales from February to March uh These numbers are not seasonally Adjusted so it's normal to see increases In home sales from February to March Each and every year now having said that The biggest increases were actually in The Central Coast as well as uh the San Francisco Bay Area up by more than 30% Now here's a slide I shared in my Previous update with you because I Shared how the mix in sales is impacting The median so price at the Statewide Level because we're seeing more home Sales for over $1 million um home sales In the range of 1 million to $2 million Uh increased by 6% from March of 2023 And look at this sales over $2 million Surging by 20% so we're seeing the Growth rate of more expensive properties Um being sold uh compared to more Affordable houses all right let's also Talk about inventory and then we'll Discuss um home prices and home sales by Each of the 53 counties that they track Inventory again is up by 24.5% uh a big year VI increase compared To uh the decreases we saw in 2023 so we have approximately 25% more House of sale from one year ago and by
The way uh today's video is based on Single family detached existing houses So excluding brand home construction and Also excluding multif family units as Well and also excluding condos as well So part of the reason why um active Listings are up is because we're seeing More people listing their hous of for Sale it's up by 13.9% year-over-year uh There's around 18,000 um homes that were Listed for sale this March uh which of Course is higher than last year but Still a lot higher compared to uh preco Levels when we should have over 25,000 And again I went into greater detail Regarding this in my previous video um So I'll provide a link in the video Description below if you guys miss that Video uh in regards to active listings By each of these um regions you can see Um in Orange is uh this year in blue is Last year so for all these regions we Have more houses for sale uh from last Year and you see that right here active Listings in Gray Central Coast is up by 43.4% year-over-year yet sales only Increased by 7.2% to me this is a really good uh Picture looking at the relationship Between demand and Supply so active Listings the amount of hous for sale all Increasing by more than 15% Year-over-year whereas sales have Decreased for all these regions except
For the Central Coast only increasing by 7.2% so there's in the Central Coast There's 43% more single family houses For sale yet home sales only increased By 7.2% that to me tells us that we have a Relatively slower Market compared to Years past because back in 2020 through The first half of 2022 if we saw active Listings surging by 43% we'd probably See home sales uh increasing by more Than that uh because back then we saw Sales outpace new listings and right now We're seeing a lot more Supply compared To home sales overall now speaking of Housing Supply that increase in more Than half the state from 12 months ago Um the biggest increase um Year-over-year is actually in Eldorado County surging by 56.6% um if you guys live in Eldorado or Have some um insights regarding there um Please leave us a comment below my Thoughts is that elado County by the way Is just east of Sacramento the first City within elderado which is the Biggest city is Eldorado Hills but Beyond that you're looking at you Wildfire Z Lo and you probably see areas That have um home insurance companies Bailing out of the market but also um Homeowners there seeing their home Insurance premiums go up quite a bit so I'm curious is if the reason for this
Big increase the biggest increase of the 50 counties uh Statewide is due to uh The increase of insurance costs and also Insurance carriers billing now as well Uh but I do not service um the area Beyond eldraw Hills so if you guys um Have any insights please leave us a Comment below um after that we have Yolo County Solano Santa Barbara S Bonito and Amador County um Sacramento is right Here so we have approximately um 25% More House of for sale from one year ago In contrast the biggest decreases are Mono down by 43.5% then we have Merced s plumis Taha And Contra Costa County and of course Feel free to pause and screenshot that If you guys want to see um other Counties there all right let's change Gear slightly here and talk about um What we're seeing right now for prices Um from one month ago and also year-over Year as well as home um sales as well so Overall for the state for single family Houses sales decrease by 7.8% also a Decrease from one year ago as well uh Whereas home prices increase by 7.7% and also increase month to month as Well for condos and town homes uh we saw A smaller gain uh in prices up by 5.5% Compared to the 7.7% gain for single Family houses yet we're seeing more home Sales this March compared to February Compared to single family houses in
Regards to these biggest regions the Biggest month-to-month increase in home Prices is actually in the San Francisco Bay Area um also the biggest year Increase is also in the Bay Area as well Up by 15.5% after that we have SoCal up by 11.1% um these figures right here though By the way are not seasonally adjusted Which is right here these figures are Not seasonally adjusted again because uh We tend to see an increase in home sales From February to March each and every Year so it's not abnormal to see uh These big gains from the previous month In contrast we looking at sales from one Year ago again the only region that post Of gain is in the Central Coast but Decreases in all these other regions all Right let's talk about the San Francisco Bay Area I mean just look at these Prices here san aneno county nearly $2.2 Million one year ago is at 1.86 million That's a gain of 16.7% one of the biggest uh Year-over-year increases Marin County The median so price surged by 22.3% it's at nearly $2 million there While ala count also increased quite a Bit as well up by 16.7% uh we're now at $1.4 million and Sales increase quite a bit for all these Regions again seasonality in contrast Home sales decrease for all these
Regions except for San Francisco county Sano Santa Clara and Sonoma all right Let change gears and talk about SoCal The most expensive County in SoCal is Actually in Orange County $1.4 million As a gain of 12% % year-over-year also Big gains in Los Angeles up by 12.1% in San Diego also a big increase As well up by 11.5% the meeting so price just over $1 Million there in regards to home sales Every single one of these counties Decrease year byye except for Imperial County experience a gain up by 12% uh all let's talk about the Central Coast Central Coast montere County love Monterey by the way 93 2,500 a small gain of 3.6% uh that is um lower than the Statewide average up by 7.7 uh but uh sispo down by 5% Santa Barbara surged by 32% I'm guessing that The reason why they saw a big increase Is due to a mix in sales more expensive Luxury home sales compared to the Previous uh year uh Santa Cruz is up by 7.9% they're at $1.3 million there one a Year ago at $1.2 million I won't go over Every single County of course because This video would be 13 hours long but Let's talk about some counties in uh the Central Valley Fresno is relatively flat Uh year-over-year whereas curent County Increased by 4.7 Madera up by 4.3 some
Of these counties again uh vary quite a Bit in their stats due to the mix and Sales and um some of them due to a Relatively low amount of sales though uh Let's also look at at pler and Sacramento so pler County 659 compared To 550,000 for Sacramento um prices up By 10% in Sacramento and I mean prices Of course I'm talking about the meian Hom sold price this is the middle number In which houses actually Clos escrow Right uh so this does not mean if you Own a house in Sacramento that your home Value increased by 10% we're only Talking about uh close home sales any Case Sacramento uh sales decrease by 10.7 and plaster uh dipped by 12.4% year Year also interesting to note here that In plaster County uh home prices only Increased by 3% compared to the 10% gain We saw in Sacramento in the far north a Lot of these counties vary quite a bit I Mean look at this cisu County increased By 45.8% uh but again uh a lot of these Counties experiencing big swings in um Prices and um home sales look at this 220% increase in plumis county and Prices surge by 31.5% uh due to the mix and sales uh Likely here all right wrapping this Video up here idor County up by 16.3% uh year-over-year in prices Whereas all these other counties
Experienc decreases except for El Dorado Up by 99.2% then we have big decreases in Menino uh whereas huge gain in Mono County up by 67.7% Yellow County which uh includes um West Sacramento uh close to where I live Yellow is up by 2.7 whereas sales dip by 12% uh Yuba County just north of Sacramento uh prices up by 6.1 uh from March of 2023 yet sales Taint down by 37% with that said if you guys are Interested in buying or selling a house In Sacramento then please email me at Jason mejon walter.com Or if you're looking to buy or sell a House anywhere in the United States or In California then check out my website Which is um real estate team finder.com That's real estate TEF finder.com hope You guys got a lot of value of today's Video of course if you did please hit The like button and also consider Subscribing as well hope you guys have An awesome day and look forward to Seeing you on the next video [Music] [Music]
