Monday Market Update: Statewide Stats From CAR®
The first California home sales report of 2023 is in… here is where real estate is starting off this year!
Just last week, the California Association of Realtors (CAR)® released their first home sales and price report of 2023. The infographic below provides a summary of the data, pulled from the complete news release here.
Other notable data includes:
- California home sales inched up in January for second straight month
- Housing inventory across the state has reached the highest level in 32 months
- Median home prices are down 1.9% year-over-year
- The statewide sales-to-list price ratio is 96.5%
As you can see, the market still reflects price moderation (but not price plummeting), slowly increasing consumer confidence and increased buyer selection. In addition, the vast majority (nearly 97%) of sellers are receiving the list price of their home. C.A.R. President Jennifer Branchini, a Bay Area REALTOR®, has stated, “While the monthly sales gains have been nominal over the past two months, the market is moving in the right direction, and more gradual improvements could be coming in the months ahead as the market moves into the spring homebuying season in a few weeks.”
We encourage you to speak with a trusted, local, active & experienced real estate agent to help you navigate the unique dynamics of 2023. While we cannot change the market activity, we can make the best educated & empowered decisions within it.
All my best,
Bobbi
Bobbi Decker
DRE#00607999
Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
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