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Hi Im Mike with the Rigley Realty Group. Whether buying or selling, for the best real estate information subscribe to my channel and hit the bell to be notified when we post a new video every Wednesday
With Thanksgiving just a few weeks away and Christmas now only 48 days away, we are quickly approaching the end of 2018. With most buyers and seller sights set on the coming year it’s important to know homes sell year round. So what’s going on in the Sacramento Real Estate Market? Let’s find out now
Where is the Housing Market Headed?
October continued the recent trend of the second half of the year. 21.5% more homes came on the market in October as compared to last year but 5.3% less than last month. 6.7% fewer homes sold compared to last year but 4.9% more than last month. Seasonally we generally see that kind of jump and fall off respectively. New contracts were 20.6% more than last month and about the same as last year. Inventory is back down to 2.1 month’s supply from a seasonal high of 2.4 months last month.
Technically it’s still a seller’s market at 2.1 month’s supply of homes but the feel is more like a buyer’s market than a seller’s market. Yes we are still getting multiple offers on right priced premium homes. But home perceived as overpriced are not even getting showings much less offers. The average sold price per square foot was up 5.9% from last year but down .4% to last month. Gone are the days a seller could slap on a high price and expect to get offers. Now, unless the home is right priced buyers are not even looking at over priced homes.
So, what’s it all mean?
If selling – price your home right and be ready to make adjustments as needed. If buying, you have more leverage from now through the end of the year than you have had in previous years. Real Estate is cyclical and usually runs in 6-7 year cycles. The historical bottom of the Sacramento Real Estate Market was the 4th quarter of 2011 meaning we are headed directly into the end of 7 year cycle. These cycles are not exact. The historical peak of the market was August of 2005 but didn’t reach rock bottom until the end of 2011, so about 6 years 4 months.
If you are thinking about selling in the next 12 months NOW is the time to call us.
The better prepared your home is before it hits the market the quicker it will sell and sell for more. Call for a Strategic Marketing Consultation and we’ll show you specifically how we get more for your home in less time. We’ll also talk about any repairs and improvements that you can make to maximize your return. More importantly, we’ll tell you what changes NOT to make saving you both time and money. If you are thinking about selling in the next 12 months, call us today for your Strategic Marketing Consultation. We will cover your goals and our unique approach to getting you the most amount of money in the shortest number of days with the fewest hassles
If you are thinking about Buying in the next 6 months NOW is the time to call us.
Again preparation is the key. Not only will we help you get pre-qualified for a loan so when we find that perfect home for you, you won’t miss out, we also show you our time tested home buying strategy that gets our buyers offers accepted 98.7% of the time, even when those offers are not the highest offer.
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About the authors:
Mike and Jennifer Rigley are one of Sacramento’s top ranked Real Estate Teams and 5 Star Ranked Real Estate Professionals. Selling Real Estate Full time since 2004 with well over 1,500 successful closings Mike and Jennifer Rigley are here to help your dreams of Home Ownership come true.
Mike and Jennifer Rigley of the Rigley Realty Group come with over 15 + years experience helping buyers, sellers and investors realize their Real Estate dreams. Including:
- 35+ Year Sacramento Residents
- Over 1,500 homes sold since 2003 – 10x the average agent
- Team Approach for Maximum Client Satisfaction
- Ranked in the Top 25 of all agents & companies county wide in both the number of listings & sales since 2004
- Top 500 Teams All Companies in California for Production
- Sacramento Magazine 5 STAR Agent
In short, the Rigley Realty Group will sell your home for the most amount of money, in the shortest amount of time, with the least amount of hassles – you have our word on it.
When You are Ready, Here are three ways we can help: