There are many great Placer and Sacramento area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (916) 529-5342 for a FREE home buying or selling consultation to answer any of your real estate questions.
Today I just wanted to give you a brief real estate market update for the Sacramento area. If you're planning on buying or selling anytime soon, you should find this very useful.
As of June 15th, we had 2,894 homes for sale, which is a 10.5% increase over last month. 1,713 homes sold last month, which was a 12% increase over last month.
There were 1,842 homes pending, and that is a 26% increase over last year at this time. The average days on market was 30 days and there is only a 1.7 month supply of homes.
Placer County is a little different. We're seeing 1,287 homes for sale, which is a 5.3% increase over last month. However, 655 homes sold, which is a 12.9% increase over last month. Also, 631 homes went pending for sale, which is a 3% increase over last year. The average price per square foot dropped a little bit, but it's still very high. Inventory is still very small, and we only have 2 months of inventory.
What does this mean for you? We're in a stable market with appreciation. We don't expect interest rates to increase as dramatically as we had previously thought, and this is great news for buyers. Because it's an election year, we don't believe rates will rise as sharply as they have in the past.
Inventory is still very low, so it's a good time to sell, especially in the next month or two. Buyers will be pulling out of the market in the next few months, and you may have to wait until spring to get top dollar on your home.
If you're looking to buy, you'll need to make strong offers and act quickly on homes that you like. Inventory will be declining soon, so make sure to start your home search soon. Also, prices will only continue to rise as time goes on, so the sooner you buy, the better off you will be.
Hopefully this has been helpful to you. If you're looking to buy or sell in Sacramento, please don't hesitate to contact me. If you're looking for more detailed information on your neighborhood, please ask us and we can provide that to you!
