Is It Still a Good Time to Sell?

Here are the latest news and notes from our local market for September.

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It's currently a seller’s market here in Greater Sacramento. The number of listings in September was down 52% from last year and down almost 9% from the previous month. The number of sold listings decreased 5% from last year and 14% from the previous month.

On the other hand, the number of contract listings was up 13% from last month and up 25% from last year. The months of inventory based on closed sales dipped another 0.7 months, which puts us down nearly 50% from last year.

“It’s clear the market is appreciating!”

So how does this affect home prices? If you guessed it’s driving them upward, then you’re right; the average sold price per square foot is up 1.5% from last month and up 10% from last year. Additionally, the average median sold price increased by almost 1%, and the average sold price also rose by nearly 3%.

Average days on market decreased 16% from last year, so properties are certainly moving fast on the market. When you consider all of this information collectively, it’s still a great time to sell your home—buyer demand is as strong as ever.

If you have any questions about buying or selling a home in today’s market or real estate in general, give me a call; I’d love to help you make sense of your specific situation.