Real Estate Update
ó In July, the median price decreased to $322,000 compared to $329,000 in June. The median is 10.3% higher than a year ago.
ó The available housing inventory is at 1.7 months. The inventory is slowly starting to creep up a bit as we head to the end of the traditional “buying season” in Sacramento. 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 months 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