by Calculated Risk on 1/11/2021 03:06:00 PM

Note that December sales are for contracts typically signed in October and November.

From SacRealtor.org: December sales volume up 23% annually, inventory at .5 months

December ended with 1,528 sales, up 1.1% from the 1,511 sales in November. Compared to one year ago (1,244), the current figure is up 22.8%.
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The Active Listing Inventory decreased 23.4% from November to December, from 959 units to 735 units.

Compared with December 2019 (1,315), inventory is down 44.1%. The Months of Inventory dropped from .6 Months to .5 Months. This figure represents the amount of time (in months) it would take for the current rate of sales to deplete the total active listing inventory. The chart below reflects the Months of Inventory in each price range.
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The Median DOM (days on market) remained at 7 and the Average DOM remained at 16. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.” Of the 1,528 sales this month, 87% (1,329) were on the market for 30 days or less and 95.8% (1,463) were on the market for 60 days or less.
emphasis added