We analyze several housing market indicators in order to present an in-depth breakdown of Stockton Real Estate Market comparing March 2009 to March 2010.
Summary of Key Points
Stockton Real Estate has shown strong signs of improvement with median sales price climbing up.Houses are selling faster and sellers received over asking price.
Key Statistics, Stockton , CA: Median Sales Price (16.98%), Median Days on Market (-21.59%), and Number of Units Sold (-20.56%), Sales Price to List Price Ratio (March 09 99% – March 10 101%)
Stockton Real Estate
The city of Stockton experienced a 16.98% increase in median sales price from last year going up from $120,971 (March 09) to $141,515 (March 2010). Median days on market data for Stockton show that houses are selling faster than March 09. It took 55 days in March 09 for a house to sell and for March 10 that number has gone down to 43 days (a 21.59% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 608 units were sold compared to 483 for March 10 (-20.56% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Stockton. SP/LP ratio for March 09 was 99% compared to 101% for March 10.
Let’s take a brief look at neighbors Manteca and Tracy. Manteca Real Estate featured a 1.75% decrease in median sales price ($183,676 March 09 – $180,467 March 10) and Tracy Real Estate saw a 6.61% increase ($216,459 March 09 – $230,764 March 10). Are houses in Manteca and Tracy selling faster or slower this year? Well, Manteca experienced a 16.74% decrease (54 to 45 days) in median days on market and Tracy saw a 28.53% decrease (58 to 42 days). In the units sold category, Manteca sold the same number of units (0.00%) in March 2010 as compared to March 09 and Tracy sold 51 units less (-26.42%) in March 2010 than March 09.
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