First Six Months-Sacramento Real Estate

To get some perspective on the local real estate market it helps to look back over a period of time.  In this case I am looking at some statistics for the first 6 months for the residential real estate market in Sacramento County and the City of West Sacramento.  Without getting into a lot of numbers, here are some highlights:  

Closed sales on a monthly basis have been increasing.  In January 2011 there were 1239 closed single family home sales.  In June 2011 there were 1724 closed sales.  A very nice increase! In June, the last month that information is available there were 735  (42.2%) bank owned sales,  396 (22.8%) short sales and 603 (34.8%) conventional sales. 

The number of conventional sales has been increasing each month while the number of bank owned sales has been decreasing.  Short sales as a percentage of the whole have remained stable at around 22% of the whole. Seems like it is a good sign to see the number of conventional sales increasing although bank sales and short sales still are a strong majority of the closed sale activity. Hopefully over the second half of the year bank owned and short sale numbers will decrease and conventional sales will increase. 

 At the beginning of the year there were more homes on the market than there are now.  It is not a “Seller’s Market” but if a home is in a good location, is properly priced, has a desirable floor plan and in good condition  it will sell within 30 days at very close to the listing price.  In today’s market a home has to be priced fairly to be sold. 

Later this week I will feature a blog on our experience in having a new roof installed on our home and a Rent vs. Buy comparison. 

Please e mail me with any questions you may have regarding residential real estate.