Real Estate Update
ó In February 2015, the median price increased from $258,000 to $283,050. The median is 8.9% higher than one year ago.
ó The available housing inventory is at 2.1 months. I expect that number to increase a bit as we approach the spring/summer selling season. A “normal”or “balanced market” has been redefined over the past decade & is now considered about 3 months.
óThe homes that are priced right, show well and have a high quality marketing plan are still getting sold fairly quick. However, the properties that are over priced are sitting with little activity until the list price is in line with the true market value. The overpriced properties are having price reductions to try and get more attention. The current market is the most “normal/balanced” market we have seen in the Sacramento area in over 10 years.