Sacramento Real Estate Video Market Update for the month of November, reflecting back on October 2017.
Doug Reynolds, a Sacramento Area Realtor, provides a monthly update on the Sacramento Real Estate market.
In October, the median price increased to $355,000 compared to $348,000 in September. More importantly, the median is 10.6% higher than a year ago. Currently, there is 1.7 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 seller’s market.”