Sacramento Housing Market Update October 2020 Results

Dated: November 12 2020

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October 2020 Video Market Update

What's happening here ??????? in our Greater Sacramento real estate market? Is it a good time to buy? ? Should you sell your home? ? I have been getting a lot of questions about how the Sacramento Real Estate Market is faring with the current Pandemic Well guess what? THIS MARKET IS NOT SLOWING DOWN. IN FACT IT CONTINUES TO REMAIN STRONGER THAN EVER. Here is the latest market update as of October 2020. Well we saw a 13.8% increase in average home prices from this time last year in 2019. We are now sitting at an average home price of $486,000. We saw a 47.1% decrease in average days on market from this time last year 2019. We are now sitting at an average days on market of 18, down 16 days from the same time last year 2019. But what is really important now, is that pending home sales are STILL up! They are now up 29.8% year over year, and there are now 11% more homes pending than there were just last month. So what this means is that people are out shopping for and selling homes. And according to the latest report released for our area: Hot Homes can sell for about 3% above list price and go pending in around 5 days. Most homes get multiple offers, often with waived contingencies. ??According to Sacramento Realtors, the number of local homes, condos and townhomes sold in October was 1593, a 3.1% increase from October of last year. There are now 1,098 homes for sale in our region. ?HOWEVER...... The amount of homes? available in the valley remains low as demand continues to outpaces supply. There is STILL less than 1 month supply of homes for sale, where a six-month supply is considered a balanced market. In fact, we now have 0.7 Months of inventory which is in line with what we had in September, just one month prior, and 45% LESS than we had a the same time last year in October 2019. Interest Rates are STILL historically low!!!?? Hovering in the low 3's which means money ? is CHEAP and its an amazing time to purchase or refinance! We hope you found this video to be beneficial. We are Happy to Help Anyone needing our services. PLEASE Comment, Post or SHARE ! Feel free to reach out to us if you have any real estate questions or concerns: Coyle & Verberne Real Estate | ?916-761-8201 | ? www.coyleandverberne.com | ? taracoylerealestate@gmail.com Powered by EXP Realty DRE CA 02054880 | NV S.0191395 #Sacramento #SacramentoCA #SacramentoRealestate #homebuying #homeselling #housingmarket #marketupdate #howtobuyahome #processofbuyingahome #canibuyahome #shouldibuyahome #shouldisellmyhome #howtosellmyhome #sacramentohousingmarket #coyleandverberne

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Tara Coyle

Get to know Tara Coyle Coyle & Verberne Real Estate is committed to getting results and building trust for our clients. Tara customizes a tailored strategy to meet each individual’s needs. Tara, ....

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