This is taken from Facebook Live video from Doug Reynolds Real Estate. Some relevant info for today's market. Typical Sacramento seasonal market for this time of year...slowing but not slow
This is taken from Facebook Live video from Doug Reynolds Real Estate. Some relevant info for today's market. Typical Sacramento seasonal market for this time of year...slowing but not slow
This is taken from Facebook Live video from Doug Reynolds Real Estate. Some relevant info for today's market. Inspections....what does it mean for buyers and sellers.
In June, the median price increased to $347,250 compared to $342,500 in May.
More importantly, the median is 5.5% higher than a year ago.
Currently there is 1.2 months worth of inventory. I expect that number to increase more as we approach the summer season but not drastically. A “normal” or “balanced market” is considered around 2.5— 3 months.
The homes that are priced right, show well and have a high quality marketing plan are getting sold quickly. 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.
I’m calling it a “price sensitive sellers market.”
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Doug Reynolds, a Sacramento Area Realtor, lives and specializes in College-Glen Real Estate. Tons of great information about College-Glen can be found at my website: www.CollegeGlenRealEstate.com
Now that the Secong Quarter of 2017 is finished, here’s a look back at Q2 and comparing it to last quarter and a year ago. This is only for College-Glen (College Greens & Glenbrook) single family homes.
The spring/summer market heated up with the weather. Prices have risen due to high buyer demand. This large pool of buyers combined with a shortage of inventory (homes for sale) has created a very strong sellers market so far in College-Glen for 2017. However, sellers can’t get lazy. The homes still need to show well, be priced right and have great marketing. That combination will produce multiple offers over the list price in a few days. This dynamic is considered a “Price Sensitive Seller’s Market.”
I expect the “Price Sensitive Sellers Market” to continue in the Summer/Fall of 2017. The buyers are anxious and waiting to jump on a great new property but not crazy to overpay for a not very desirable home.