For the past couple of years the real estate market has been on somewhat of a honeymoon…glowing stats, rising values, and low interest rates had our local market speeding along at 120 MPH pace! 

Now, over the past couple of months we’ve seen some changes that have decelerated our unsustainable pace and now we’re cruising at a smooth 80 miles per hour.

To unpack our current market conditions and get an answer to that question let’s take a look at the numbers.

In Sacramento, Placer and El Dorado Counties, we saw a substantial increase in homes For Sale from April to May.  Which likely relates to homeowners looking to capitalize on the high values as well as the time of year. 

Pending homes sales also increased after two months of decline and closings dropped from 2050 to 1834 from April to May. 

One thing to take notice of is that 35% of all active listings in the MLS had a price reduction in the last 30 days. 

We are still seeing price per sqft crawl upward, however, we do anticipate this trend to level out. 

Even with these changes we are still in a strong sellers market with only 1.4 months of inventory. 

What’s this mean to you??

Buyer’s…you now have more selection to choose from, interest rates are still relatively low, historically speaking and sellers are now more open to negotiating and even offering concessions.

Sellers…homes that are priced right are still selling for Top Dollar and quickly and we still have a surplus of Bay Area Cash Buyers looking to relocate!

If you have any questions please feel free to give us a call at 855-Tom-Daves!

Buying a Sacramento Area Home? Search ALL Homes For Sale:

https://www.search.americanmetroproperties.com 

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https://www.americanmetroproperties.com/home-valuation