Sacramento Real Estate Market update - July 2016

Sacramento

Real Estate Update

July 2016

ó In June, the median price increased to $329,000 compared to $319,000 in May. The median is 11.5% higher than a year ago.

ó The available housing inventory is at 1.4 months. Right now, in most areas, there is a shortage of homes available for sale compared to the amount of buyers. A “normal”or “balanced market” is considered about 2.5—3 months.

ó Since i follow the stats every single week i typically can notice trends a little sooner than most. Nearly everyone is saying ‪ Sacramento‬ is currently a HUGE sellers market, well i think due to increased inventory over the past few weeks that things have leveled off a little bit. The market is still leaning towards sellers but only for the homes that are priced right/show well/great marketing. The others are starting to sit and i'm seeing some price reductions as well. ‪#‎PriceSensitiveSellersMarket‬ 

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DOUG REYNOLDS

REALTOR

916-494-8441

         

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