Hello Sacramento Buyers and Sellers,
Here's my quick take on the Sacramento Real Estate Market: As a stats geek, i really pay attention to the numbers each month and try to see if the data is in line with what i'm seeing and feeling. Well, it appears that the median price is going to go down a little bit for October (the official numbers will be out late next week). From what i'm seeing and feeling in the market, we have started the traditional winter slowdown. In turn buyers have gained a bit of power.
A large majority of the market is currently slow. Many homes are sitting on the market with little activity and price reductions are becoming more common as well. Buyers are now asking for a bit more in their offers and also during the inspection period. For a majority of the market, it is slightly favoring buyers. Higher inventory, means more choices for the buyers and the sellers are having to compete with each other. With all of that having been said...
....there's still a portion of the market that is having multiple offers and lots of buyer activity. Those homes all have things in common. They are priced right (meaning the seller is not "testing the waters" at the top end of the market to see if they get lucky), the show extremely well (the sellers did work in preparing the house for the market ie touch up painting, extensive cleaning, removed the clutter and many items from the house to give it more room and be more inviting) and they have great marketing, this means excellent professional photography that stands out from the other 7 similar homes in the neighborhood. THOSE houses are still selling fast with multiple offers.
The others are sitting.
It's looking like a great winter to be on the buyers side of transaction. However, if you need to also sell, do the three important things and you'll have good luck: price it right, show well and hire an experienced agent that will put in the time to market it correctly.
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