The Sacramento Real Estate Market

Showed several properties over the weekend, and heard an interesting comment from one buyer–that the current “slow down” in the Sacramento Real Estate market was ‘just seasonal’.  Of course, no one can argue with the fact there are less sales in the days between Thanksgiving and Christmas. There are real and tangible reasons why the ‘slow down’  is happening, reasons outside of the ‘seasonal slow down’.  Home seller’s….take note: This is for you!

INVENTORY. INVENTORY. INVENTORY is up. The market is as normal as it gets. Seems slower, yes, it is, and remains healthy.  Still great for home sellers, you can get your appropriately priced property sold. But, the trend does lean towards Sacramento home buyers now, a lean towards a buyer’s market.

January thru June of  2013, Sacramento saw apprx. 1400 to  1500 home closings thru July.  Just about as many homes were on the market, and so we had a very brisk list and sell pace.Starting with July 2013, Sacramento home listings started to increase–from 1500 or so on the market, to 2300, or 2600. With close to the same 1500 in closings, home buyers have choices, and values are settling down a bit. (Note, I did not type “crashing”, just settling).  And with that observance, I ran a few other numbers:

Listings on market in Sac county as of 12/9/2013– 2783

Of those only 201 are Foreclosures

and 231 are Short sales.

Sacramento Real Estate is less than 20% distressed properties. That’s great!! Used to be 62% short sales, 30% Foreclosures.

Average price per sq foot is hovering around $165. Don’t forget sq. ft. does not take amenities (Granite, rehab, remodel, pools, acreage, etc.) into consideration. It’s not a good tool for figuring out your home’s value, but it is a good guide to watch market value fluctuations.Click on the Trendgraphix charts to the right, for more market info.

Questions about your homes value, or how to navigate the current market? Let me know!

 

 

 

 

 

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