"Once they’ve listed, sellers can go out of town for a weekend and come back to multiple offers."

The next chart shows the average price per square foot. Currently, that price is $280 per square foot, whereas last year, it was $243. Over the last year, prices have improved between 10% and 15% depending on your price range

The next chart at 1:55 shows that, on average, homes are going under contract within 23 days of being listed. However, half of those homes sold in under nine days. That means that once they’ve listed, sellers can go out of town for a weekend and come back to multiple offers.

For months of inventory, we have 0.7 months available on the market, meaning that we’ve had seven months of record-low inventory in our area. 

Sellers will have noticed an unusual amount of activity in the market. Two recent listings received 75 and 80 showings in just two days. Naturally, we negotiated and got beyond the highest prices and awesome terms for those sellers. Even at the higher end of the market, we’re seeing a 119% increase in sales for the $1 million-and-over range. 

So, to answer our initial question, yes, this is the hottest market the greater Sacramento area has ever seen, and Sacramento is still the very hottest market in the country. 

If you have any other questions about the market or buying or selling a home, don’t hesitate to reach out to us. We’d love to help you.