Is it still a Seller's market in Elk Grove?

Real Estate Agent with (916) 585-3858 BRE CA 01700374

It's still a Seller's market in Elk Grove! Be aware Buyers are gaining ground.

Most people I speak with believe there are a lot of homes on the market available for sale. Well, in most neighborhoods that is not exactly accurate. 

Inventory levels are still very low. If you look at Sacramento County as a whole, there are about 1.4 months worth of inventory. That means if we don't list any more homes for sale, it would take 1.4 months to sell everything based on the current buyer demand. 

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Elk Grove sellers market

If you look at this chart, it will show your opportunity if you decided now is the time to sell. The light green bars are the amount of homes that are on the market for sale. The dark green lines represent the homes that have sold. The red line is the amount of homes that went pending (accepted an offer and are in escrow) in the same time period. 

Notice the inventory of homes available to buy has declined over the last 8 months. This means if you were to sell, you have less homes to compete with. The exciting part to me is the uptick in homes that went pending substantially increased in the last 5 months.


Even though you have an advantage as a Seller right now because of the inventory levels, that doesn't mean you will get everything you want in the negotiation. Buyers are pushing back more than ever. I find Buyers are willing to give you the price, if there is a lot of competition for your home, and they expect the condition to be top notch. 

Many Sellers think that once they accept an offer, there is no room for the Buyer to negotiate. Technically our contracts are written "as is", meaning the Buyer accepts the property at the current condition at the price they offered. That is not how Buyers are acting right now. They are pushing back and attempting to renegotiate during their inspection process. They are either wanting an absorbent amount of repairs, when compared to past markets, or asking for large credits for closing costs to make up for the condition. 

It's important you hire an agent who is a good negotiator. I find many Sellers who get caught up in the commission cost and hire a "discount broker", end up loosing more money than if they paid the higher commission. I watch homes being listed for less than their actual value or the Seller ends up paying thousands of dollars in concessions to the Buyer.  Both scenarios result in LESS MONEY IN THE SELLERS POCKET at the close of escrow.  

I would love to share with you my track record for selling homes in Elk Grove for top dollar and my ability to consistently negotiate away thousands of dollars in repair requests.

I chuckle when someone tells me that real estate agents get paid to market the home and obtain an offer. That is true and the reality is that's when our job really begins. Marketing and negotiating are my favorite parts when listing a home for sale in Elk Grove. I think both are very important! Marketing should generate multiple offers if the home is priced well. This generally leads to a great offer price for my Sellers. My negotiation skill is where I make sure my Seller keeps that "extra" money in their pocket at the end of the escrow. 

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If you are think about selling a home in the Elk Grove or Sacramento area, please give me a call (916) 585-3858 and let's set a time to sit down and meet. I would love to discuss your opportunity to sell in your neighborhood. There is no pressure or obligation and my mission is to get you all the information you need to make the best decision for you and your family. 



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Erin Newington

Elk Grove Realtor
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