Stockton Real Estate Report: Average Values See Minor Dip as June 2024 Sale Prices Climb

Stockton, CA’s real estate market depicts fluctuating trends: Avg property values slightly volatile but fairly stable, avg sale prices rising, and sold property counts decreasing.

authorWritten by Manuel MartinezJul 1, 2024

The average property value in Stockton shows interesting fluctuations with month-over-month changes. Notably, there was a peak in May 2024 at $402,500, which slightly dipped to $399,900 by June 2024. An initial rise from $430,500 in July 2023 followed by these subtle fluctuations suggests a degree of volatility in property values, yet they remain relatively stable over the long term.

Average sale prices in Stockton have maintained a generally upward trajectory over the considered months. Starting from $424k in July 2023, the prices climbed steadily, reaching $437k by June 2024. This rising trend underscores a growing market potentially spurred by demand or improved market conditions conducive to higher sale prices.

Here is a snapshot view of June compared to July last year

Jul 2023 June 2024 Change
Median Listing Price $430.5K $399.9K -7.11%
Median Sold Price $423.9K $437K 3.09%
Homes For Sale 50 65 30.00%
Homes Sold 2,725 2,665 -2.20%

Property and Sold Property Count Trends

The number of properties available on the market displayed some irregularities, rising from 61 in March 2024 to 65 by June 2024. Sold property counts, on the other hand, have shown a decrease from 2830 in August 2023 to 2665 by June 2024. This contrast between available and sold properties might indicate changes in buying behavior or market saturation levels.

Comparative Analysis with Nearby Cities

Comparing Stockton to neighboring cities such as Lathrop, Manteca, Lodi, and Discovery Bay reveals a broader perspective on region-specific market health.

  • Lathrop’s average property values in June 2024 stood at $749,000, significantly higher than Stockton’s $399,900. Similarly, the average sale prices and sold property counts in these cities show marked differences, illustrating varied market dynamics within close geographic proximity.

This comparative analysis helps in understanding Stockton’s positioning in the broader real estate landscape, potentially affecting investor interest and buyer decisions within and around these cities. By monitoring these trends, stakeholders can better navigate their investment strategies or homebuying plans with a more data-driven approach.

Overall, the Stockton real estate market shows resilience and dynamic shifts that mirror wider economic conditions and local factors. Buyers, sellers, and investors should continue to monitor these trends closely to optimize their real estate decisions effectively.

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