Home sales outpaced new listings in December lowering overall available inventory of single family homes. This has created a slight advantage for sellers who face less competition. If the trend continues we may see upward pricing pressure in the near future. For now, average sales prices (ASP) have continued to trend down in December ($335,000 versus $344,000 in Noember) while the three month average of number homes sold increased to 187 compared to 180 in November. Average Days on Market continued it’s upward trend: 106 days in December versus 98 in November. Inventory decreased in December to 3.7 months (November was 4.3) based on number of active homes for sale compared to homes sold during the previous three month period.
With the Holiday season mostly behind us we will likely begin to see more homes come on the market over the few months. Seller’s able and willing to list now should watch to see if an upward trend in average sales price develops. If it does, and they are ready to pull the trigger, they can get ahead of the expected increase listing activity in Spring and take advantage of any upward trend in sales prices.
Month End Market Statistics, Tuolumne County*
* Market data includes single family residences in the following communities: Jamestown, Columbia, Sonora, Tuolumne, Twain Harte, and Mi-Wuk Village.
Data Source: Tuolumne County Association Of Realtors (MLS) Master Listing Service,
As of 12/31/2018