Have you asked yourself recently "What's my Modesto Ca home worth?" The numbers below might give you some idea and also an idea of what the market is doing. The sales figures for Modesto California for July 2022 are in. The totals below are for single family homes sold in Modesto.
|July||Zip Code||# of Sales||Median Sales Price||Average % Of List Price||Average Days on Market||Average # of Offers|
Total homes sold in Modesto: July 2021: 256 July 2022: 172 (-33%)
The median price of homes was up over last year in all but one zip code (95351). Most homes also received multiple offers however not as many as last year. Fewer offers per home and fewer total homes sold could be a sign that more buyers are getting priced out with higher prices and higher interest rates.
However not all homes sold for more than asking price. The number of days on the market seems to make a difference in what a home will sell for.
- Homes on the market 0-30 days sold for 100.34% of list price
- Homes on the market 31+ days sold for 96.95% of list price
- The average home in Modesto Ca sold for 98.08% of list price in July 2022
There are currently 195 homes under contract (pending) in Modesto. That's down just a bit from last month at this time. There are currently 427 homes available (active) in all of Modesto listed from $170,000 for a 1 bedroom 1 bath condo of 430 sq.ft up to $2,950,000 for a home with 8 bedrooms and 8 bathrooms and 7500 sq.ft. on just over one acre.
With a much larger amount of available homes and homes receiving less offers and far fewer homes selling this month it could be a sign of a change to a buyer's market. We are not quite there yet but I think it is coming!
Do you want to know what your Modesto Ca home is worth? Call or text me any time at 209.404.0816 or email me at jim@JPP3RealEstate.com
If want to see what's for sale in Modesto Ca check out my website JimPatton.metrolist.com for the latest listings.
If you are thinking about buying or selling give me a call at 209-404-0816 so we can discuss what is the right thing to do in today's market.