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Friday, January 17, 2014

Sacramento Real Estate 2013 Year in Review

I hope your 2014 is off to a great start and may this year be filled with
happiness, peace and prosperity for you and your family.

2013 Sacramento Area Real Estate Year in Review
* The median price ended the year at $250,000.  A 28.2% increase from the year before!!
* 17,029 homes sold in 2013. That is 11.1% lower than the 19,156 sold in 2012. 
* Of all the Sales from 2013: 31.5 % were CASH, 45% Conventional, 19.8% FHA and 3.7% VA. 
* The available housing inventory ended at 1.4 months.  A “normal” or “balanced market” is between 4 or 5 months.  That has been on a steady increase since the summer of 2013.
* High Demand and Low Supply/Inventory drove the market prices up through the first half of the year.  The second half of the year has seen a little less buyer demand and a little higher inventory with values flattening out.
* 2014 is looking like it will be a fairly “normal” or “balanced” market as inventory rises to a common level.

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clear skies,

Doug Reynolds




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