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Wednesday, October 16, 2013

Sacramento Real Estate Market update - October 2013

Real Estate Update

October 2013

ó In September 2013, the median price increased to $255,000.  That is 41.7% higher than one year ago!
ó 23.6%  of the purchases in the month were ALL CASH.  That  %  has been quickly decreasing since the spring. 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 & below.
ó The available housing inventory is up to 1.7 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 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.  The market is finally beginning to find a balance and seller’s power of the past 1.5 years is shifting to be more equal this fall and winter.
 September2013 - Sacramento County Real Estate stats - www.SellWithDoug.com - Doug Reynolds Real Estate Realtor
September2013 - Sacramento County Real Estate graphs - www.SellWithDoug.com - Doug Reynolds Real Estate Realtor

clear skies,
Doug Reynolds

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