Sacramento Real Estate September 2020 Market Update!

Dated: October 13 2020

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September 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? Now before we get started, please don't forget to hit that button, ring the bell and make sure that you're subscribed so that you never miss one of our videos. Well guess what? THIS MARKET IS NOT SLOWING DOWN. IN FACT IT IS HEATING UP! Here is the latest market update as of September 2020. ✅Well we saw a 12.8% increase in average home prices from this time last year in 2019. ✅We are now sitting at an average home price of $485,000. ✅We saw a 24.1% decrease in average days on market from this time last year 2019. ✅We are now sitting at an average days on market of 22, down 7 days from the same time last year 2019. But what is really important now, after having endured the first few months of the pandemic is that pending home sales are STILL up! They are now up 15.1% year over year, and there are now 22% 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 September was 1605, a 15.1% increase from Sept of last year. There are now 1,010 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 0.6 Months of inventory which is 14.4% LESS than we had in August, just one month prior, and 61.2% LESS than we had a the same time last year in September 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! #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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