April 2020 Sacramento Real Estate Market Update

Dated: October 13 2020

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April Video Market Update

What is going on in the real estate market? ??I have been getting a lot of questions about how the Sacramento Real Estate Market is faring with the current Pandemic.? Here is the latest market update for April 2020. We've got some good news, some bad news, and some uncertainty on the horizon for our Sacramento Market. First Things First! Let's start with the GOOD news! ✅Well we saw a 6.7% increase in average home prices from this time last year in 2019. ✅We are now sitting at an average home price of $433,000. That's a $27,000 price increase. WOW! ✅We saw a 33% decrease in average days on market from this time last year 2019. ✅We are now sitting at an average days on market of 28, down 14 days from the same time last year 2019. ??According to Sacramento Realtors, the number of local homes, condos and townhomes sold in April was 952, a 35.8% decrease from April of last year. The good news is that we have 15.5% MORE homes on the market in this first week of May than we had in the first week of April. There are now 1,587 homes for sale in our region. ??The Not so good outlook is that A) we don't know how May will fare with bank delays, investors pulling from mortgage market and layoffs forcing buyers to cancel. ?HOWEVER......this is something to look at closely as both a BUYER and a SELLER.... The amount of homes? available in the valley remains low as demand outpaces supply. There is about a 1.7 month supply of homes for sale, where a six-month supply is considered a balanced market. In fact, our days on market is actually DOWN to 28 days which is a 33% decrease from the same time last year! Interest Rates are STILL historically low!!!?? Hovering in the 3's which means money ? is CHEAP and its an amazing time to purchase or refinance! Also......especially directed to sellers! If you do NOT have a strong digital marketing presence online...you may be forcing tons of buyers to pass on seeing your listing in person! More than ever not all homes are making the "cut" for buyers to see in person....which could make your home sit on the market longer and possibly fetch less money as it sits and sits and sits.... We are conducting business as usual...by utilizing all of our digital technology and videography to sell our listings and get buyers into homes! We just contracted 2 buyers who never stepped FOOT in the property! If sellers do not have a virtual video of their property...we go to the property personally and will send you one! We are Happy to Help Anyone needing our services. PLEASE Comment, Post or SHARE !! #Sacramento #SacramentoCA #SacramentoRealestate #homebuying #homeselling #housingmarket #marketupdate #howtobuyahome #processofbuyingahome #canibuyahome #shouldibuyahome #shouldisellmyhome #howtosellmyhome #sacramentohousingmarket #coyleandverberne Coyle & Verberne Real Estate | ?916-761-8201 |⁠ ? www.coyleandverberne.com | ⁠ ? taracoylerealestate@gmail.com⁠ ⁠Powered by Exp Realty DRE 02054880

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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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