Sacramento Housing in September: Sales increase 22% YoY, Active Inventory down 49% YoY

Note that September sales are for contracts typically signed in
July and August.

From SacRealtor.org: September
2020 Statistics – Sacramento Housing Market – Single Family
Homes

September wrapped up with 1,695 sales, up 8.7% from the
1,560 sales in August. Compared to one year ago (1,383), the
current figure is up 21.7%
.

The Active Listing Inventory increased 1.5% from August to
September, from 1,238 units to 1,257 units. Compared with
September 2019 (2,457), inventory is down 48.8%
. The Months of
Inventory decreased from .8 Months to .7 Months. This figure
represents the amount of time (in months) it would take for the
current rate of sales to deplete the total active listing
inventory. The chart below reflects the Months of Inventory in each
price range.

The Median DOM (days on market) dropped from 7 to 6 and the Average
DOM dropped from 21 to 18. “Days on market” represents the days
between the initial listing of the home as “active” and the day
it goes “pending.” Of the 1,695 sales this month, 84% (1,424)
were on the market for 30 days or less and 92.4% (1,566) were on
the market for 60 days or less.
emphasis added

1) Overall sales increased to 1,695 in September, up 21.7% from
1,383 in September 2019. Sales were up 8.7% from August 2020
(previous month).

2) Active inventory was at 1,238 down from 2,457 in September 2019.
That is down 48.8% year-over-year.� This is the seventeenth
consecutive month with a YoY decline in inventory.
Existing home sales for September will be released next week.
Source: FS – All – Real Estate News 2
Sacramento Housing in September: Sales increase 22% YoY,
Active Inventory down 49% YoY