Sacramento County Housing Market Summary Oct 2020
Discover what's trending in this October 2020 issue of the Sacramento County Housing Market Report provided to you by Team Lund Real Estate. Learn 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 Oct 2020
September 2020 was a Seller's market! The number of for-sale listings was down 55.7% from one year earlier and down 6.4% from the previous month. The number
of sold listings increased 15.1% year over year and increased 3% month over month. The number of under contract listings was down 2.1% compared to the previous
month and up 22% compared to the previous year. The Months of Inventory based on Closed Sales is 0.6, down 61.2% from the previous year.
Homes For Sale in September 2020: 1010 units.
• Down 6.4% compared to last month
• Down 55.7% compared to last year
Homes Listed in September 2020: 1780 units.
• Down 2.2% compared to last month
• Up 0.5% compared to last year
Comparatively lower Months of Inventory is more beneficial for sellers while a higher month 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 September 2020: 1605 units.
• Up 3% compared to last month
• Up 15.1% compared to last year
Homes Placed under Contract in September 2020: 1736 units.
• Down 2.1% compared to last month
• Up 22% compared to last year
The Days on Market Showed a Neutral Trend for Sept 2020
The Average For Sale Price For Homes In Sacramento Is Appreciating
The Average For Sale Price in September was $665,000, up 16.5% from
$571,000 in September of 2019 and up 2.5% from $649,000 last month.
The average sold price is appreciating as well. The Average Sold Price in September was $485,000, up 12.8% from $430,000 in September of 2019 and up 1.7% from $477,000 last month. The Median Sold Price in September is also appreciating. It was $439,000, up 13.7% from $386,000 in September of 2019 and up 3.3% from $425,000 last month.
What does all of this mean for you?
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!