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What’s going on in the Placer, Sacramento, and El Dorado County housing market this month? Today I have the latest data to share with you. This will help you stay on top of our rapidly changing market and guide your real estate plans.
As of September 16, we have a total of 4,045 listings. In less than a year, the inventory of homes has quadrupled. However, we’re still below historic numbers, and we haven’t yet reached a balanced market. Meanwhile, the number of closed sales in the last 30 days is 1,905, and our absorption rate is at 1.9. This means that if no homes come to the market, we’ll have no houses to sell in about two months. For the market to become balanced, we’d need five or six months of supply. Once it reaches more than that, we will have a buyer’s market.
“We haven’t reached a balanced market yet.”
Additionally, our median price is $338 per square foot. In the last four months, this has dropped from $360, while it has increased from 12 months ago at $328. The market is definitely still up if you bought a home a year or three years ago. I’ll visit these numbers again, so make sure to stay tuned for my November, December, and January market updates.
If you have more questions about our local market or anything related, call or email me. I’d love to connect with you!
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