Where Is the Sacramento Market Heading?

Greater Sacramento Real Estate Podcast with Chris Reese

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Today, we share the latest market update for the Roseville area!

Right now, it's still a seller's market. There isn't a lot of inventory available for sellers looking for a new home. For example, there are 1,222 homes for sale in Placer County, and the average time on market is 32 days. In Sacramento County, there are 2,620 homes for sales with an average market time of 28 days. Eldorado has 795 available homes with an average market time of 41 days on the market. Finally, Yolo County has only 253 available homes with an average market time of 24 days.

With so few homes on the market, and so many buyers out there, sellers are able to demand a higher price for their properties. Buyers are willing to pay higher prices because it's a great time to buy with interest rates so low, and because prices are expected to rise in the near future. The average 30-year fixed rate is around 4% and the average 15-year fixed rate is roughly 3.25%! This is outstanding considering the fact that the average 30-year interest rate over the last 30 years is around 8%!

Now is the perfect time to sell! If you price your home right and market it effectively, there is a chance you can sell in under a month! Just recently, in fact, we listed a home that received multiple offers within the first few days and sold for above list price after only four days on market! If you are thinking of buying, now is also a good time to make a move. Interest rates are incredibly low, so now is the time to lock in a low rate!

If you have any questions about current market conditions, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to help you out!