Discover what's trending with this Sacramento County Housing Market for May 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 May 2021
May 2021 was a Seller's market! The number of for-sale listings was down 51% from one year earlier and up 9.6% from the previous month. The number of sold listings increased 53.3% year over year and decreased 3.8% month over month. The number of under contract listings was up 5.4% compared to the previous month and up 16.1% compared to the previous year. The Months of Inventory based on Closed Sales is 0.7, down 67.1% from the previous year.
Homes For Sale in May 2021
The total number of properties available this month lower by 3139 units of 51%. The number of current inventory is up 9.6% 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 May 2021
The May 2021 Months of Inventory based on Closed Sales of 0.7 was
decreased by 67.1% compared to last year and up 15.9% compared to last
month.
Homes Placed under Contract in May 2021
The May 2021 Months of Inventory based on Pended Sales of 0.6 was
decreased by 61.6% compared to last year and the same compared to last month.
May 2021 is Seller's market
The Days on Market Showed a Downward Trend for May 2021
The Average For Sale Price in Sacramento is Depreciating
The Average For Sale Price in May was $760,000, up 22.4% from $621,000 in
May of 2020 and down 4% from $792,000 last month.
The Average Sold Price is Appreciating
The Average Sold Price in May was $602,000, up 30.8% from $448,000 in May
of 2020 and up 5.8% from $554,000 last month.
The Median Sold Price is Appreciating
The Median Sold Price in May was $525,000, up 28.4% from $409,000 in May
of 2020 and up 4.8% from $501,000 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!