3 Surprising Trends in Sacramento's Real Estate Market

A comprehensive update of Sacramento real estate for buyers and sellers.

If you have any plans to buy or sell a property in Sacramento but are unsure how to start, don’t worry—I have the solution. The first thing you need to do is get up to speed on the latest happenings in the Sacramento housing market so you can make better, more informed decisions.  That’s why I’m here today to give you detailed and reliable information on Sacramento’s surprising market trends and how it will affect you as a buyer or seller:

1. Rising median home prices. The first surprising trend we’ve observed is the significant increase in the median home prices in Sacramento. Since January, home prices have risen by 9% compared to last year at 7%. However, this doesn't necessarily mean that your home has appreciated by 9%.

2. Faster home sales. The second trend is the decrease in the average number of days it takes to get a home under contract and sold. The average time has dropped from 33 days to 27 days, which indicates a market that's gaining momentum and appreciating faster than expected.

3. More homes get multiple offers. The third and most fascinating trend that we’ve observed in Sacramento is more homes are getting multiple offers. In May, 62% of sold homes had multiple offers. This is happening despite interest rates remaining at or slightly above 7%, which is quite remarkable.

"Sellers enjoy homes being sold faster and at a higher price, while buyers will face tighter market competition."

What do these insights mean for you? As a seller, this means that you can sell your home faster and at a higher price. Additionally, low inventory levels mean less seller competition, which will be to your advantage.

For buyers, this means you will need to brace yourself for tougher competition. Patience and preparation are key. Understand your budget and be ready to act when you see the house that you want. Buying in a competitive market can be challenging, but working with a qualified agent like myself can help you navigate the market and find opportunities through off-market sales, among others.

Whether you're buying, selling, or both, I'm here to help you navigate these trends and make your home-buying or selling experience successful. Just call 916-847-2205 or email [email protected]. I look forward to talking with you!