Sacramento: Sales Down 7% YoY, Active Inventory up 23% YoY

November closed with 1,304 sales, down 6.6% compared to 1,396 sales in November 2017.

Of the 1,304 sales, 180 (13.8%) used cash financing, 791 (60.7%) used conventional, 225 (17.3%) used FHA, 76 (5.8%) used VA and 32 (2.5%) used Other types of financing.

The Active Listing Inventory increased 22.5% compared to November 2017. The Months of Inventory remained at 2.1 Months.

The Average DOM (days on market) continued its increase, rising from 30 to 36 from October to November. The Median DOM also increased, rising from 19 to 24. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.” Of the 1,304 sales this month, 59% (770) were on the market for 30 days or less and 81.2% (1,060) were on the market for 60 days or less.