Sacramento County Housing Market Summary October 2021
Discover what's trending with this Sacramento County Housing Market for October 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 October 2021
October 2021 is a Seller's market! The number of for-sale listings was up 6.3% from one year earlier and down 1.6% from the previous month. The number of sold
listings decreased 15% year over year and decreased 6.6% month over month. The number of under contract listings was up 4.1% compared to the previous month and
down 3.6% compared to the previous year. The Months of Inventory based on Closed Sales is 1.1, up 22.9% from the previous year.
Homes For Sale in Oct 2021
The total number of properties available this month is higher by 272 units of 6.3%. This year's bigger inventory means that buyers who waited to buy may have a bigger selection to choose from. The number of current inventory is down 1.6% compared to the previous month.
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 Oct 2021
The October 2021 Months of Inventory based on Closed Sales of 1.1 was increased by 22.9% compared to last year and up 9.7% compared to last month. October 2021 is Seller's market.
Homes Placed under Contract in Oct 2021
The October 2021 Months of Inventory based on Pended Sales of 1 was increased by 11% compared to last year and down 9.4% compared to last month. October 2021 is Seller's market.
The Days on Market Showed a Downward Trend for October 2021
The Average For Sale Price is Neutral
The Average For Sale Price in October was $733,000, up 4.6% from $701,000 in October of 2020 and up 0.5% from $729,000 last month.
The Average Sold Price is Neutral
The Average Sold Price in October was $581,000, up 16.2% from $500,000 in October of 2020 and up 0.5% from $578,000 last month.
The Median Sold Price is Neutral
The Median Sold Price in October was $515,000, up 15.7% from $445,000 in October of 2020 and up 1% from $510,000 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!