Again, the Sacramento residential real estate market is defying convention. The month of October showed an increase in pending sales over the slight declining trend which began in July 2019. The average sold price per square foot has remained incredibly stable at $243 for the last 6 months. The average sold price for homes in this region also remained stable at $427,000, ending 10/31/2019. The days on market from June through October has been steadily increasing. Presently, the average days on market time is 34 days. The present inventory (homes on the market for sale) declined significantly in the last month from 1.7 months in September to 1.4 months at the end of October.
What does this data mean? The market is still going strong. Things continue to happen positively. Less homes are coming on the market presently...which really means it may be a good time to put your home on the market after the holiday season ends. The good news for buyers is that loan interest rates are incredible right now.
Realty Plus is a full service real estate company. It is a small company with two brokers (Michael Gesner and Naeem Syed), and just a few agents (Cora Allison, Minha Javed, esq., and Ras Siddiqui). We look forward to working with you.