Let’s take a look at the data we have and see how the market is doing.
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Do you know what I get asked more than anything else? It’s “How is the market right now?” Let’s take a look at the data we have and answer that question.
- There were only 1,435 homes available for sale last month. That’s a lot less than the 3,049 available at that same time last year.
- 2,656 homes went pending last month. Last year in April, that number was 2,313.
- 2,334 homes sold and closed last month. Only 1,588 closed and sold at that time last year.
- The average list-to-closing ratio in Sacramento is currently at 104%.
- On average, buyers have been paying over $20,000 more than the list price for each home that has been sold.
"We’ve never seen a hotter seller’s market and we don’t know how long it will last."
- The average days on market is only 12 days.
- The average price per square foot has climbed significantly and now stands at $315 per square foot.
- In many neighborhoods, we’ve seen an appreciation of 20% to 35% over the last year.
- We currently have 0.6 months of inventory.
- 75.9% of all home sales had multiple offers.
What this data is saying is that inventory is extremely low—there are half as many listings and twice as many buyers. If you’re a buyer, we are seeing historically low interest rates that you should take advantage of. If you’re a seller, now is the time to act. We’ve never seen a hotter seller’s market and we don’t know how long it will last.
If you’re interested in taking advantage of this market, please give me a call and check out my team’s
website. We’d be happy to help you out. Have a great day.
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