Doug Reynolds, a Sacramento Area Realtor, provides a monthly update on the market statistics.
In January, the median price decreased to $305,000 compared to $315,000 in December.
More importantly, the median is 7.1% higher than a year ago.
Currently there is 1.3 months worth of inventory. I expect that number to increase more as we approach the spring/summer seasons but not drastically. A “normal” or “balanced market” is considered around 2.5— 3 months.
The homes that are priced right, show well and have a high quality marketing plan are getting sold quickly. However, the properties that are over priced are sitting with little activity until the list price is in line with the true market value. The overpriced properties are having price reductions to try and get more attention.
I’m calling it a “price sensitive sellers market.”
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Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Thank you for taking the time to prepare and share this vital information. This is exactly the type of info that buyers and sellers need to to make informed decisions.
Feb 18, 2017 07:07 PM
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Will Hamm
Aurora, CO
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"
Hey Doug, so close to 500,000 points and it is free. Hope you are there in a couple more blogs.
Feb 19, 2017 07:10 AM
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