I hope your 2015 is off to a great start and may this year be filled with happiness, peace and prosperity for you and your family.
2014 Sacramento Area Real Estate Year in Review
* The median price ended the year at $268,000. A 7.2% increase from the year before!
* 15,782 homes sold in 2014. That is 7.3% lower than the 17,029 sold in 2013.
* Of all the Sales from 2014: 20.9 % were CASH, 46.2% Conventional, 22.3% FHA and 5.6% VA.
* The available housing inventory has been slowly increasing and is up to 2.8 months. I expect that number to increase more as we continue through the winter and spring. A “normal” or “balanced market” has been redefined over the past decade and is now considered 3—4 months.
* The homes that are priced right, show well and have a high quality marketing plan are still getting sold fairly quick. However, the properties that are over priced are sitting with little activity until the list price is in line with the true market value. The overpriced properties are having price reductions to try and get more attention. The current market is the most “normal/balanced” market we have seen in the Sacramento area in over 10 years.
* 2015 is looking like another “Normal/Balanced/Healthy” market with slight appreciation.
Here’s a video with more detailed recap
And here’s my “Wild Guess” predictions video for 2015
clear skies,
Doug Reynolds
Realtor
916-494-8441
