Mendocino County: The inventory of homes and condominiums available in Mendocino County at the end of January stands at 249. This is 27 percent below the inventory in January 2019 (339) and it is slightly above the inventory last month (247). New sales (59) in Mendocino County in January were 69 percent ahead of the pace of January 2019 (35) and they were 79 percent ahead of the pace last month (33).
There is a 4.2 months supply of inventory in Mendocino County based on the existing sales pace. The average Days on Market for homes sold in Mendocino County in January was 152 days. For the purpose of our MLS (BAREIS) “Days on Market” represents the time from when the property is first listed in the MLS to the date the property goes into “pending” (all conditions removed) status. On average, it can take anywhere from 0 to 30 additional days for properties to close after going pending. The median price of the 35 homes closed in January in Mendocino County was $380,000. This is 4 percent below the median price in January 2019 ($396,000).
Ukiah: The inventory of homes and condominiums for sale at the end of January in Ukiah is 37 homes. This is the lowest inventory in Ukiah in the past 18 months. It is 42 percent below the level of January 2019 (64) and it is slightly below the inventory last month (39). There were 16 new sales for the month of January. This is just below the number of sales in January 2019 (17) and it is 100 percent ahead of the sales pace last month (eight). There is a 2.3 months supply of inventory based on the current sales pace. The Days on Market for the nine closings last month was 94 days. The median price of the homes sold in Ukiah in the past year has ranged from $360,000 to $480,000. The median price was $424,000 for the homes that closed in January.
Hopland and Talmage: The inventory of homes and condominiums for sale at the end of January in Hopland and Talmage is seven homes. This is 30 percent below the level of January 2019 (10) and it is 42 percent below the inventory last month (12). There were five new sales for the month of January. This compares to one sale in January 2019 and no new sales last month. There is a seven months supply of inventory based on the current sales pace. The Days on Market for the one closing last month was 47 days. The median price of the homes sold in Hopland/Talmage in the past year has ranged from $250,000 to $800,000. The price was $363,000 for the home that closed in January.
Redwood Valley and Calpella: The inventory of homes and condominiums for sale at the end of January in Redwood Valley and Calpella is 11 homes. This is 50 percent below the level of January 2019 (22) and it is just below the inventory last month (12). There were three new sales for the month of January. This compares to two sales in January 2019 and no new sales last month. There is a 3.7 months supply of inventory based on the current sales pace. The Days on Market for the two closings last month was 182 days. The median price of the homes sold in Redwood Valley/Calpella in the past year has ranged from $400,000 to $550,000. The median price was $537,000 for the homes that closed in January.
