Real Estate Market Report - Modesto, CA (Dec, 2023)

The median sale/list price for the first set of data started at $395,000 in December 2022, dropped to $380,000 in January 2023, and steadily increased until reaching $435,000 in November 2023. The median sale/list price for the second set of data started at $390,000 in December 2022, dropped to $365,000 in January 2023, and steadily increased until reaching $445,000 in November 2023.

The median sale price per square foot data shows that there was a significant increase in December 2022, with a median sale price of $282.738. The prices then dropped in January 2023 to $235.166 but rose again in February to $270.519. There was a slight dip in April, but overall, prices remained relatively stable throughout the rest of the year. The highest median sale price per square foot was recorded in November at $282.689.

The median sale price to list price ratio has been consistently high, with a median ratio of 0.988 in December 2022 and hitting 1.0 starting from March 2023, indicating that properties are selling at or above their list price. This suggests that the housing market is currently favoring sellers.

The first set of data shows that the number of properties sold/listed increased from December 2022 to August 2023, with the highest count being 377 in June 2023, before decreasing slightly in September, October, and November. The second set of data shows a similar trend, with the highest count of 173 properties sold/listed in January 2023, before decreasing in February, then increasing again in May, July, and August, and decreasing in September, October, and November.