Real Estate Update
ó In September, the median price decreased to $318,500 compared to $324,000 in August.
More importantly, the median is 8.7% 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—3 months.
ó Due to slightly increased inventory and traditional buyer slowdown at this time of year, the market is finding some balance. The market is still leaning towards sellers but only for the homes that are priced right/show well/great marketing. The others are sitting and having price reductions. #PriceSensitiveSellersMarket