What is the Sacramento Housing Market Doing This October?

The real estate market is always changing, now more than ever! This is why keeping up with all the latest real estate news is critical.

Today, we’re going to look at the last 30 days in the local real estate market, what trends we
saw, and what that means for you as a buyer or seller...

Here at the Best Sac Homes Group we ALWAYS have our pulse on the market so that you don't
have to. So what exactly is going on in the Sacramento Housing Market this October?
First of all, Sacramento saw a huge increase in listings, with more than 81% more homes on the
market than last year. That’s a HUGE amount of homes to choose from so all you buyers out
there just got some good news.

(NUMBER OF HOMES ON THE MARKET) Versus last year, the total number of properties
available this month is higher by 1754 units of 31.8%. This year's bigger inventory means that
buyers who waited to buy may have a bigger selection to choose from. The number of current
inventory is down 1.6% compared to the previous month.

(NUMBER OF HOMES SOLD) The number of homes being sold is 2953, down 33.2% from
4419 in September of 2021 and 12.7% lower than the 3381 sales last month.

(AVERAGE HOME PRICE) Homes in Sacramento are The Average For Sale Price in
September was $707,000, up 3.4% from $684,000 in September of 2021 and down 1.8% from
$720,000 last month.
We compare the Sold Price vs the Original List Price because it reveals the average amount that
sellers are agreeing to come down from their original list price.
The lower the ratio is below 100 percent, the more of a Buyer's market exists. While the last
year or so we have been between 100-102%...

Well here in October of 2022 we are now at This month's Sold Price vs. the Original List Price of 95%
is the same as last month and down from 5.9% % in September of last year.
This means that sellers are actually having to come down their prices more than they have
in years. This is just further evidence that we have begun to shift into a buyer's market for the
first time in a long time.

The bottom line is that the market is finally shifting. But the truth is, Sellers, you will probably
never see a market like this one again in your lifetime. So if you're thinking of holding out on
selling your property, you may miss out on the window of opportunity to sell your home for the
most money this market has seen in decades...
If you have been patiently waiting to buy, now is a good time to start having conversations with
your realtors.

Of course, the best way to ensure that you are getting the most accurate and up-to-date
information is to consult with a real estate professional in your area.
Here on my team, we are the #1 team in Sacramento, and #2 in the entire state
We have state-of-the-art marketing tools and technology, as well as a team of EXPERT agents who
know the market better than any other person in Sacramento. If you are in the market to buy or
sell, you NEED to work with the best right now, and that's us here at the Best Sac Homes Group
and Big Block Realty North.

If you have any questions about the market or what this means for you, please reach out to us.
We would be happy to chat with you and help you navigate these historic times.

Thanks for watching, don't forget to like and subscribe, and we'll see you next time.

Post a Comment