January 2024 home sales results

Happy Leap Day! 02/29/2023

Here’s a look back at Shasta MLS sales results for January 2024, in anticipation of the new report for February 2024 due tomorrow.

Once again this month, lack of inventory is shaping and defining our marketplace.

Wow, look at the Average List Price above. Up 18% year over year! High seller expectations in asking prices. The reality? Actual average sale price up only 8%. Still high, classic result of the above mentioned lack of inventory feeding typical supply/demand price inflation. People need to find places to live. Not much to choose from. Still, look at the difference between average asking price, and actual average sale price, and therein lies the source of low sales in general.

Seen above, year over year by month, sales were up 10% for January 2024. Seen below, home sales in all of 2023 was off from the prior year by 23%.

We definitely felt that. 2023 home sales was a down year for us. So far, 2024 is looking better. Stay tuned for February results tomorrow!

Always be aware we are a small MLS. Accurate statistical trends are difficult to come by due to Small Sample Size