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Tuesday, August 13, 2013

Sacramento Real Estate Market update - August 2013

Real Estate Update
August 2013

 ó In July 2013, the median price increased to $252,000.  That is 44% higher than one year ago!!!

ó 25.5%  of the purchases in the month were ALL CASH.   That number is starting to quickly decrease. 

Since prices have increased, a lot of investment properties are no longer making financial sense for 

many cash  investors.  That is good news for the First Time Buyers that have been having a tough time 

competing with investors in the lower price ranges of $250,000 and below.

ó The available housing inventory is up to 1.3 months.  I expect to see that number slowly increase 

as the year goes on.  A “normal” or “balanced market” is between 4 to 5 months. 

ó The homes that are priced rightshow well and have a high quality marketing plan are still receiving 

multiple offers but the buying frenzy has died down a bit since interest rates jumped up at the 

beginning of June.

ó High Demand and Low Supply/Inventory has driven the market prices up in 2013.  I am starting to 

see signs that the market is slowly beginning to find a balance and seller’s current power may shift to 

be more equal this fall and winter.

July2013 - Sacramento County Real Estate stats - www.SellWithDoug.com - Doug Reynolds Real Estate Realtor
July2013 - Sacramento County Real Estate graphs - www.SellWithDoug.com - Doug Reynolds Real Estate Realtor

clear skies,
Doug Reynolds

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