Market Snapshot for June 2016

    June 2016 is a Strong Seller’s Market…

    There were almost 13% less homes for sale year over year.  But the number of homes sold during that period was virtually unchanged vs. last year.

    NUmber of homes for sale vs. sold vs. pended (Apr. 2015 - Jun. 2016)

    Homes are Appreciating…

    The average price per square foot is up 8.4% year over year.  We do not believe that this pace is sustainable in the long term.  We are looking for a cooling and relative slow-down.  We believe that there is a slow-down happening already that will not be reflected fully until July’s numbers are out.

    Average Price per Square Foot (Sold) (Apr. 2015 - Jun. 2016)

    Homes are Selling Faster and Sellers are Getting Asking Price…

    The average continuous days on the market continues to fall.  It is down to 23 (4% from May to June and 14.8% year over year).  Homes are selling for 99% of list price on average.  That is unchanged from last year.

    Screen Shot 2016-08-04 at 9.35.21 PM

    The Sacramento County Average Home Price is now $362,000…

    The Average “asking price” is $466,000 and the average sold price is $362,000.  That is up 8.4% from last year.

    Screen Shot 2016-08-04 at 9.35.39 PM

    Absorption Rate is Fast, Inventory Is Low…

    Inventory is down 12.3% year over year.  But it looks to be trending upward.  We will have to wait and see.

    Screen Shot 2016-08-04 at 9.35.55 PM

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