What's Happening?
In San Joaquin County, the median home listing price in August was $589,990, a slight decrease from July's $595,000. Compared to August 2024, the median price increased by 1.4%. The median home size was 1,898 square feet, with a price of $310 per square foot, down 1.8% from the previous year. Homes were listed for a median of 50 days, slightly longer than the previous month's 47 days. The number of new listings decreased by 12% from the previous year. These statistics reflect only listed homes, not those sold, and exclude new constructions and pending sales.
Why It's Important?
The data provides insights into the housing market trends in San Joaquin County, indicating a cooling market with slight price decreases and longer listing times. This could impact potential buyers and sellers, influencing decisions on property investments. The decrease in new listings suggests a potential tightening of the market, which could affect housing availability and affordability. Understanding these trends is crucial for stakeholders, including real estate professionals, investors, and policymakers, as they navigate the complexities of the housing market.
