Sacramento Real Estate Market Update for Summer 2014

There are many great Roseville 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.

Sacramento Real Estate Market Update for Summer 2014

Today we want to talk to you a little bit about all that has been happening in the Sacramento real estate market this summer. Let's get started. Here are some things you need to know, it's a pretty crazy market right now.

• We are seeing prices all over the place
• In the past month, we have seen a 10% increase in the number of homes that have gone on the market.
• We have seen an increase in pending home sales in the past month of 5.4% 
• Compared to last year at this time, the number of homes available for purchase is up 57.6%. This is great news if you are looking to buy a home right now, as there are many more options to choose from compared to last year, when we had only about a month of inventory available.
• With interest rates continuing to be low, now is a great time to buy. We expect home prices to increase anywhere from 3-10% in the next year so locking in a mortgage rate with these prices is essential. Waiting is not in your best interest!
• Like we said before, prices are all over the place. It's important that you work with somebody who understands the market, knows the numbers, and is able to give you good advice on purchasing a home. 
• We are seeing homes that are priced correctly going for top dollar and going fast, so now is a great time to buy as well.

If you are looking to buy, sell or invest in real estate or know somebody who is, give us a call or send us an email. It's a great time to be buying or selling in the real estate market and we would love to help them accomplish their goals.

Sacramento California Real Estate

There are many great Roseville 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.

Sacramento Real Estate Market Update

In the market analysis we performed, we found that the Average Sold Price was $165/square foot. However the Average Pending Market, or the homes that have just gone under contract, was $179/square foot.

The craziness of this is that at the beginning of January, we had under a three month supply of homes. Moving onto February, we had a six month supply of homes! Normally when the inventory rises and the demand remains stable, prices will fall. The opposite is taking place.

As a home seller, you need to have someone that can interpret the market and tell you the actual price of your home – not just give you a random number and watch your home sit on the market. On the other hand, if you’re a buyer looking to purchase in this market, end up paying thousands more than you should without an expert advisor. An advisor will know the absorption rate and month supply of homes to guide you through the process.

If you have any questions, please don’t hesitate to call or email me. Make it a great one!

2014 Sacramento Real Estate Market Update

There are many great Roseville 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.

What is the Current Market Like

Hello, I'm back with you again to provide a real estate market update for the Sacramento area. Before I go in-depth, I'd like to remind you that we offer free resources such as free home searches as well as a free home evaluation. Please feel free to use these free resources - they're here for your usage.

With that being said, 2013 functioned largely as a stabilizing year, and 2014 looks to build on this activity.

• Last year at this time Placer County had a 1.2 month inventory which was extremely low, but a year later we are now looking at 3.2 months of inventory.

• At this time last year Sacramento County had a 1.1 month supply of homes, and this year there is a 2.6 month supply. We're esentially seeing three times the amount of properties.

• This low inventory is great news for home sellers because it will force buyers to compete with one another, and this will probably bring much higher prices for homes.

• For home buyers, this means that there are more options out there for you. You will likely still see multiple offers on properties, but nothing like what occurred last year.

• Single story homes are also getting unbelievable prices right now, so if you're on the market with a single-story home, please come and see me because I can help you get an unbelievable price for it.

• Later on this year you can expect interest rates to rise. So if you plan on buying this year, do it as soon as possible to avoid larger monthly payments.

Bottom line is, sellers will reap the benefits of inventories that are still relatively low, and buyers will have a little more to work with but should be aware that interest rates are rising.

Once again, if you need any assistance buying or selling a home, let me know and I would be glad to help you out. I can be reached at (916) 960-4529 or you can email me at thomas@thomasmarch.com