Greater Sacramento Market Update: June 2020

Dated: October 13 2020

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?? What is going on in the real estate market? ?? ? IT's GETTING HOT AROUND HERE. AND SO IS THE SACRAMENTO REAL ESTATE MARKET. ? DID YOU KNOW? The Sacramento area is ranked #11 in the entire USA for hottest markets! While official May statistics have not been released yet, said suburban and rural zip codes spiked to new historic highs. Hottest Market rankings, rural zip codes saw a median jump of 846 spots in May, while suburban zip codes saw a median improvement of 404 spots. Here is the latest market update for June 2020. ✅ 3.4% increase in average home prices from this time last year in 2019. ✅ average home price of $432,000. ✅ 33% decrease in average days on market from this time last year 2019. ✅ average days on market of 20, down 10 days from the same time last year 2019. 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 May was 984, a 1.8% decrease from May of last year. There are now 1,606 homes for sale in our region. ?HOWEVER...... The amount of homes? available in the valley remains low as demand outpaces supply. There is about a 1.6 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 20 days which is a 33% decrease from the same time last year! 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! Also......especially directed to sellers! If you do NOT have a strong digital marketing presence 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 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 |⁠ ? | ⁠ ?⁠ ⁠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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