The seller’s market is roaring.
The Sacramento area July housing data is now available.
All three of the counties have shown dramatic increases in sales volume from a year ago and last month.
Sacramento and Placer County data reflect similar increases, including appreciation of prices. El Dorado County is lagging a tad. Never-the-less, it too is showing strong pricing appreciation.
The current inventory is about half of what was available a year ago.
My experience of the last month has reflected this reality.
Homes in move-in ready condition are moving very quickly, multiple offers, and offer prices 5-10% above asking.
Houses not in splendid condition will move if priced correctly. There has to be an incentive for buyers to take on projects.
Updated and pristine are the rules of today’s market.
Similar to a few years back, we are experiencing a catch-22 situation. Sellers are not keen to sell in fear of not finding a replacement. Seems like just yesterday I was writing the same phrases.
I suppose there is one caveat; if you are looking to move out of the area or state, there may not be a better time.
Please review the following charts. Hopefully, you find the information useful.