Have you been wondering what’s going on in the housing market? To keep you informed, here is my market update for Sacramento, Placer, and El Dorado counties. Let’s dig into the latest statistics and talk about how they’ll affect you whether you’re buying or selling.
We have 4,318 homes available on the market today. In the last 12 months, we’ve closed 27,158 sales in our area, and in the past 30 days, we’ve closed 2,263. Together, that gives us a supply of 1.9 months of homes, which means it would take us two months to sell out of homes if no new ones came on the market.
“Inventory has gone up, but it is still a seller’s market.”
Back in December, we only had about 1,100 homes on the market, which is the lowest I’ve ever seen. There have been times throughout my real estate career when we’ve had around 15,000 houses available. December was probably the best time to sell your home since inventory was extremely small and the low interest rates were creating demand.
Now, inventory has gone up, but it is still a seller’s market. Don’t expect to sell your home over the weekend, but if it’s priced well and in good condition, your house will sell within a few weeks. If you don’t price your home correctly, you might have to reduce the price—that’s what’s happening to many houses on the market today.
On the other hand, if you want to buy, it will be a lot easier to buy than it was eight months ago. The environment is less stressful, and there are more options.
If you have any questions about our market, please call or text me. I’d love to hear from you.
