Sacramento Housing Market Report
Wow, look at that big jump in housing inventory for our Sacramento County housing report for June 2018. What you don’t see in that uphill climb from spring is the fact our inventory has increased almost 30% when compared to June of 2017. But the kicker is it does not equate to more homes selling. Why? Well, a lot of it seems to be junk. Also, would-be sellers, eager to capitalize on the seller’s market by dumping homes on the market at unrealistic prices, would be another reason.
Before I get into the details of the May 2018 Sacramento Housing Report, I thought I would use the above excellent illustration to help my readers absorb the facts. We need a little serenity and reflection on calming influences before examining the numbers. This particular photo is a new Buddha addition I found at Pier I in Kailua-Kona. As my husband knows, I am fond of repeating that a person can never have too many Buddhas. Unlike, his beliefs about the number of cats in any given household.
If you don’t find our March 2018 Sacramento County real estate market update a bit disturbing, you might not be paying close enough attention to what’s going on. And really who does when we’re all busy? My closed sales for March finished out the month at #2 at Lyon Real Estate, unlike January when I placed #1. The difference for me is I closed 5 listings in January, 3 listings and 3 buyers in February, and 5 listings in March, plus 2 buyer sales. Those numbers are nothing, though. Our market is just starting to pick up steam. So I’ve been incredibly focused on Sacramento real estate.
Our Sacramento housing market report for February 2018 took a wild turn last month. Our new listings dropped by 8.4% over the previous month. February is a time of year when new listings should be increasing but they did not increase, they fell. We desperately need new inventory to keep pace with the demand, which seems to be growing instead of slowing down.
When you’re got demand outpacing supply, it means prices will continue to go up. Our new listings for the first 10 days of March have fallen as well over the same period in February. For example, in February we had 574 new listings the first 10 days of the month, and this March, only 487 new listings.
January has barely left us, and the snapshot of the Sacramento housing market for January 2018 mirrors pretty much what I have been experiencing. Some of you know, of course, that I spent the months of December and January working from my house in Hawaii. Not on Hawaii real estate as some incorrectly assume. I am not licensed to sell real estate in Hawaii. No, no, no, I am a Sacramento Realtor, and I work on Sacramento real estate from our vacation house.
I do such a bang-up job of it that I placed as the #1 Agent at Lyon Real Estate for January, and I wasn’t even in town. To put this into perspective, we have around 1,000 agents at Lyon.