Doug Reynolds, a Sacramento Area Realtor, provides a monthly update on the market statistics.
In December, the median price decreased to $315,000 compared to $325,000 in November. More importantly, the median is 6.1% higher than a year ago.
The available housing inventory is at 1 month. Inventory typically tapers off during the Winter months and then increases again in the Spring. A “normal”or “balanced market” is considered about 2.5—3 months.
The market is leaning towards sellers but only for the homes that are priced right/show well/great marketing. Those properties are receiving multiple offers at or above list price. The others are sitting and having price reductions. #PriceSensitiveSellersMarket
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