by Calculated Risk on 2/14/2021 09:55:00 AM

From SacRealtor.org: January sales volume up 12% over 2020

January wrapped up with 1,054 sales, down 31% from the 1,528 sales in December. Compared to one year ago (944), the current figure is up 11.7%.
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The Active Listing Inventory decreased from December to January, from 735 units to 719 units. Compared with January 2020 (1,409), inventory is down 49%. The Months of Inventory, however, increased from .5 Months to .7 Months.
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The Median DOM (days on market) remained at 7 and the Average DOM increased from 16 to 17. “Days on market” represents the days between the initial listing of the home as “active” and the day it goes “pending.”
emphasis added

Click on graph for larger image.

This graph from the Sacramento Association of REALTORS® shows single family sales and inventory since December 2017. Usually inventory (red) was higher than sales (blue), but now there are more sales each month than inventory. Inventory declined sharply during the pandemic.