Discover what's trending with this Sacramento County Housing Market for March 2021. This report is provided to you by Team Lund Real Estate. We're happy to be your go-to source for how many listings are hitting the market, how long houses are staying on the market before selling, and what the median home values were in Sacramento last month!
Sacramento County Housing Market Trends March 2021
March 2021 was a Seller's market! The number of for-sale listings was down 59.2% from one year earlier and up 3.4% from the previous month. The number of sold listings increased 7% year over year and increased 31.1% month over month. The number of under contract listings was up 40.8% compared to the previous month and up 51.5% compared to the previous year. The number of under contract listings was down 13.1% compared to the previous month and down 65.7% compared to the previous year.
Homes For Sale in March 2021
The total number of properties available this month lower by 3393 units of 59.2%. The number of current inventory is up 3.4% compared to the previous month. This smaller inventory means that buyers who waited to buy may have a smaller selection to choose from.
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
Buyer’s market: more than 6 months of inventory
Seller’s market: less than 3 months of inventory
Neutral market: 3 – 6 months of inventory
Homes Closed in March 2021
• Up 31.1% compared to last month
• Up 7% compared to last year
Homes Placed under Contract in March 2021
• Up 40.8% compared to last month.
• Up 51.5% compared to last year
The Days on Market Showed a Downward Trend for March 2021
The Average For Sale Price in Sacramento is Neutral
The Average For Sale Price in March was $794,000, up 32.1% from $601,000 in March of 2020 and down 3.4% from $822,000 last month.
The Average Sold Price is Appreciating
The Average Sold Price in March was $555,000, up 23.6% from $449,000 in March of 2020 and up 3.9% from $534,000 last month.
The Median Sold Price is Appreciating
The Median Sold Price in March was $490,000, up 20.1% from $408,000 in March of 2020 and up 4.3% from $470,000 last month.
What does all of this mean for you?
At Team Lund, we understand that buying or selling your home can be one of the biggest decisions you make. We want to provide you with the best, most relevant information to assist you in your journey.
Reach out to us with any questions and we will guide you through every step and help you sell or buy a home that meets your needs while being competitive in today’s market. If you want trends for Placer County or El Dorado County or your specific zipcode or city, we'd be happy to send them to you. Just let us know!