We have 66 homes for sale in Tracy (down from last week’s 67) with almost the same 43.6 average days on market for those available properties. There are 94 homes currently pending with an average 17.8 days on market; meaning that the best homes sell the fastest. We saw 73 closings within the past 30 days, we are seeing more closings in town as we get closet to April. The 73 sold homes had an average asked-to-sold ratio of 101.8%.
We need to keep an eye on the interest rates as they are anticipated to increase toward 5%. This may slow home sales; but we can monitor this depending on the months of remaining inventory. We have 2 months of remaining inventory; meaning it would take two months to sell the current housing inventory at the current rate.