Doug Reynolds, a Sacramento Area Realtor, provides a monthly update on the market statistics.
In November, the median price increased to $325,000 compared to $321,000 in October. More importantly, the median is 11.7% higher than a year ago.
The available housing inventory is at 1.4 months. Inventory typically tapers off during the Winter months and then increases again in the Spring. A “normal”or “balanced market” is considered about 2—3 months.
The market is leaning towards sellers but only for the homes that are priced right/show well/great marketing. Those properties are receiving multiple offers at or above list price. The others are sitting and having price reductions. #PriceSensitiveSellersMarket
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