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What’s Been Happening in Sacramento?
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Selling Your Northern California or Sacramento Area Home? Get a free home value report
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The greater Sacramento area has been seeing a lot of changes lately. Today we are going to give you a market update for the area, with the latest stats from the month of July. Here is what’s been going on:
- We are definitely still in a seller’s market, with about 1.7 months of inventory. That number is down from 2.1 months at this time last year.
- The average sale price is up 1.6% just from May of this year! That is incredible growth.
- The average days on market in Sacramento is down to 25 days.
- The median home price has increased from $290,000 to $294,000 in just one month.
As you can see, sellers are able to command a higher price in this market when priced right and marketed correctly. As for buyers, historically low interest rates and looser lending guidelines are both great incentives to lock in a purchase, and an interest rate, now.
If you have any questions for us, feel free to give us a call or send us an email. Talk to you soon!
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