Thursday, January 31, 2019

Is Our Market Changing?



We are definitely in a changing market.  For the past few years homes have sold almost instantly.  Sellers controlled the market.  Now, it appears that home buyers will have a true opportunity to negotiate price and terms.  In addition more homes are available and some home are beginning to staying on the market longer.  Interest rates are also starting to move upward.  

Whether selling or buying, seniors that are downsizing or moving up need to have realistic expectations about selling or asking price.  The best place to start is to educate yourself then call your REALTOR®. I can help you begin your journey by giving you access to Sacramento's local Multiple Listing Service  neighborhood alerts. These daily alerts will show you "what's currently on the market" and "what has sold around your current residence". Access alerts by Clicking this link.  You can request additional information. We love texts and emails. But if you call, we will answer the phone. We still cherish the human voice.  In the months to come we will explore topics such as probate, reverse mortgages and empty nestings.

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Zip Code 95823
January 2019 is a Seller's market*

Home For Sale in January 2019: 86 units.
0% compared to last month
Up 56.4% compared to last year

Home Closed in January 2019: 47 units.
Up 11.9% compared to last month
Up 2.2% compared to last year

Home Placed under Contract in January 2019: 61 units.
Up 41.9% compared to last month
Up 15.1% compared to last year

*Buyer's market: more than 6 months of inventory based on closed sales
 Seller's market: less than 3 months of inventory based on closed sales
 Neutral market: 3 - 6 months of inventory based on closed sales

January 2019 Average Continuous Days on Market trend is Rising*

Continuous Days on Market in January 2019: 48 
Up 50% compared to last month
Up 50% compared to last year

January 2019 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in January 2019: 98% 
0% compared to last month
Down 1% compared to last year

*Based on 6 month trend - Rising/Falling/Remains Steady




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All Sacramento County Area Combined
 
January 2019 is a Seller's market*
Down 8.3% compared to last month
Up 24.8% compared to last year

Home Closed in January 2019: 840 units.
Down 23.1% compared to last month
Down 25.4% compared to last year

Home Placed under Contract in January 2019: 1235 units.
Up 35.9% compared to last month
Down 2% compared to last year

*Buyer's market: more than 6 months of inventory based on closed sales
 Seller's market: less than 3 months of inventory based on closed sales
 Neutral market: 3 - 6 months of inventory based on closed sales
January 2019 Average Continuous Days on Market trend is Rising*

Continuous Days on Market in January 2019: 49 
Up 8.9% compared to last month
Up 28.9% compared to last year

January 2019 Sold/Original List Price Ratio is Falling*

Sold/Original List Price % in January 2019: 96% 
Down 1% compared to last month
Down 2% compared to last year

*Based on 6 month trend - Rising/Falling/Remains Steady




* All reports are published February 2019, based on data available at the end of January 2019, except for the today stats. All reports presented are based on data supplied by the MetroList MLS. The MetroList MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the MetroList MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.The printed information in this blog is provided with the understanding that the authors and publishers are not herein engaged in rendering legal, accounting or tax advice. As such, the content of this blog should not be used as a substitute for consultation with your accounting, tax or legal professional.  

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