Sacramento County experienced a 25.4% increase in number of homes listed FOR SALE in April 2018 vs. the same month a year ago.
For the same period there was a 1.3% increase in homes SOLD. Pending Sales increased 15.4%.
Interest rates continue to remain reasonably low. For those able to find suitable homes, it's a GREAT time to buy.
Myrl, 25.4% increase in listings for sale is encouraging for Buyers. Where are the sellers moving to? Downsizing or moving-up?
Roy Kelley
Gaithersburg, MD
Myrl Jeffcoat
Sacramento, CA
Steffy Hristova Buyers are not moving up. I can tell you that. Sellers are dumping investment properties, moving out of state, selling as a successor trustee or executor of an estate, downsizing, or buying a brand new home.
Robert Vegas Bob Swetz
Las Vegas, NV
Myrl Jeffcoat
Sacramento, CA
Roy Kelley
Gaithersburg, MD
Steffy Hristova
Tempe, AZ
Hello Elizabeth,
Great comment and that's why the selling prices of homes in Portland, Seattle, Las Vegas, Reno Carson City, Phoenix, parts of Utah, etc are rising so rapidly. Because California's are selling, moving out and buying 3-4 homes to their 1 they sold in Cali.
Hey Myrl: A couple of interesting facts about the Sacramento housing market right now that you may not know is 1) median sales price is $370K (it was $340K a year ago), and 2) the absorption rate for April is 77.5% yet a year ago it was 95.9%. Which means we are actually selling fewer homes than a year ago based on closed sales to inventory.
We should put a lunch on the calendar for the end of June!
Robert Vegas Bob Swetz
Las Vegas, NV
Myrl Jeffcoat
Sacramento, CA
Roy Kelley
Gaithersburg, MD
Families on the move will appreciate your local real estate market reports.
Myrl Jeffcoat
Sacramento, CA
Myrl with that kind of increase in inventory, hopefully sales will see a similar increase as well.
Roy Kelley
Gaithersburg, MD
Myrl Jeffcoat
Sacramento, CA
Myrl, you always get right to the point with your great market reports
Myrl Jeffcoat
Sacramento, CA
Roy Kelley
Gaithersburg, MD
Good Friday morning, Myrl. Have a great day and a very special weekend.
Myrl Jeffcoat
Sacramento, CA
Myrl Jeffcoat Thanks for taking the time to share this real estate market insight. This is exactly the type of information that buyers and sellers need to make informed decisions.
Myrl Jeffcoat
Sacramento, CA
Hi Myrl,
More homes listed sounds like GREAT news for buyers!
Myrl Jeffcoat
Sacramento, CA
Myrl when there is inventory it is easier to sell the product, I have noticed a bit of increase in our inventory too, now we just need the nay sayers to stay out... it does not mean the market is crashing...Endre
Myrl Jeffcoat
Sacramento, CA
Myrl Jeffcoat -Progress is positive and your stats tell a wonderful story about growth and opportunity still knocking!
All the best to you!
Myrl Jeffcoat
Sacramento, CA
I always love positive progress and I aspecs of life! Love and light and many more good days ahead! :)
Myrl Jeffcoat
Sacramento, CA
Hello Myrl,
Thanks for the market report and I like Elizabeth's comments above and I have heard people talking about pulling out of the Bay Area and headed toward Sac.
Myrl Jeffcoat
Sacramento, CA
Robert Vegas Bob Swetz
Las Vegas, NV
Now that it’s after Memorial Day we are really in need for fresh inventory Myrl..
Comments(14)