Real Estate Market Conditions https://www.newhomesdirectory.com/California/Sacramento/Real-Estate-Market/ Wed, 06 Jul 2016 00:00:00 GMT Wed, 06 Jul 2016 00:00:00 GMT en-us April 2018 Sacramento County CA Real Estate Market Conditions https://www.newhomesdirectory.com/California/Sacramento/Real-Estate-Market/April-2018-Sacramento-County-CA-Real-Estate-Market-Conditions/ <p>April 2018 is a Sellers Market in Sacramento CA</p><p><br></p><p>April 2018 remains a SELLERS market in Sacramento! Properties for sale were up by 25.4% from last year and 15.8% from last month. Properties that had offers accepted or “pending” were up 12.8% from last month and 15.4% as compared to 2017. While inventory was up slightly to 1.3 months it still remains a strong seller’s market. Inventory, as defined by how long it would take to sell everything that is currently listed, without adding and new homes, how long would it take to sell them all. 3 months or less is a strong sellers’ market. 3-6 months is a more neutral market trending towards buyer and 6 months + is a strong buyers’ market.</p><p><br></p><p>Average price per square foot was up 1.8% compared to last month and 7.4% to the previous year. No doubt, based on recent month’s sales, we are in an appreciating market.</p><p><br></p><p>How long was the average days on market? How about a minuscule 26 days, and this takes into account the homes that sold in less than a week. In today’s market, if a home is still on the market after 28 days, it’s a great indication that the property is overpriced.</p><p><br></p><p>With Interest rates on the rise the spring buying and selling season could be in for a change. Our experience is when rates go up, many buyers are priced out of the market and prices tend to stabilize and or flatten. History tells us more homes are sold between March and July than any other time of the year. As inventory increases so does the buyer pool.</p><p><br></p><p><br></p><p><br></p><p>When is the best time for you to buy or sell? When it is right for you and your situation. Timing the housing market is much like timing the stock market. You never know when the market has peaked or bottomed until it reverses course and by that time it’s too late.</p> Wed, 16 May 2018 00:00:00 GMT February 2018 Sacramento County CA Real Estate Market Conditions https://www.newhomesdirectory.com/California/Sacramento/Real-Estate-Market/February-2018-Sacramento-County-CA-Real-Estate-Market-Conditions/ <p>February 2018 remained a sellers market! While the number of homes available was 15.7% better than last year at 1,570 the number of homes that went under contract was up by 14.4% at 1,444 virtually erasing any gains made by the increased inventory. Interestingly enough is that the number of homes that actually closed escrow was only up 6.5% or 1,086 as compared to last year.</p><p><br></p><p>The median price of a home rose to $350,000 up 8% from a year ago while inventory remained flat at 1.4 months of supply. The average asking price for homes in February was $488,000 up just 1% from a year earlier and 3.4% from last month.</p><p><br></p><p>Cash purchases accounted for 15.1% of the sales while conventional financing was 57.6%, FHA 17.9%, VA 5.2% and “other” made up the remaining 4.2% of all sales.</p><p><br></p><p>Average days on market for February was 30 days, down 6.2% from last month and 14.3% from a year ago. Median days on market was a slim 13 days! What we do know is right priced homes will sell in 14 days or less and often with multiple offers while over-priced homes will linger often taking less than asking after 21-30 days on the market.</p><p><br></p><p>With Interest rates on the rise the spring buying and selling season could be in for a change. Our experience is when rates go up, many buyers are priced out of the market and prices tend to stabilize and or flatten. History tells us more homes are sold between March and July than any other time of the year. As inventory increases so does the buyer pool.</p><p><br></p><p>When is the best time for you to buy or sell? When it is right for you and your situation. Timing the housing market is much like timing the stock market. You never know when the market has peaked or bottomed until it reverses course and by that time it’s too late.</p> Wed, 21 Mar 2018 00:00:00 GMT