Doug Reynolds, a Sacramento Area Realtor, provides a monthly update on the market statistics.
In July, the median price stayed at $370,000 compared to $375,000 in June.
More importantly, the median is 4.3% higher than a year ago.
Currently there is 1.8 months worth of inventory. A “normal” or “balanced market” is considered around 2.5— 3 months.
The homes that are priced right, show well and have a high quality marketing plan are getting sold quickly. 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.
I’m calling it a “price sensitive balanced market.”
Hi, I’m Doug Reynolds. I graduated from CSU, Sacramento with my degree in Real Estate in 2006. I’ve been a full service Realtor since then and have had the opportunity to help over 200 buyers, sellers and investors with their real estate needs. I smoothly navigate sellers, buyers, and investors through an intricate process to avoid mistakes and achieve their real estate goals. I take a relational approach to each individual client and strive to find their “Why” of buying or selling a home. I then tailor my efforts to meet their needs in a way that makes them feel valued, appreciated, heard, understood, cared for and professionally represented. I maximize their investment and time while reducing their worries and needed efforts