June 2020 Sacramento Housing, Just Another Year Same Old Routine.
June 2020 Sacramento housing, just another year, same old routine. Well, if the Sacramento housing market was a person, she may be saying those things. Since achieving my real estate license and subsequent membership with the Sacramento Association of Realtors in 2012, the Sacramento housing market has outpaced itself every year.
This year has been no different. The Pandemic no doubt affected real estate, but it has been quite the opposite of what everyone was thinking. Well, not the opposite of what the smart, experienced Realtors were saying. Sure, there were and still, are, some price adjustments happening, but look at the numbers below. Numbers never lie.
Let’s do some quick math. What does -17 + 31.4 equal? If you actually did that in your head just now, you deserve a reward. But I will tell you that if you chose 14.4, you are wrong. The answer is $415,000. $415,000 is the new historical record for Sacramento median home price and we reached that with inventory down 17% and new escrows up 31.4% for June 2020. Inventory is also down 37.4% from June 2019 while new listings for June 2020 crept up a measly 1.4%. June 2020 Sacramento housing, just another year same old routine.
June did see a slow down in how long it was taking for homes to go into escrow. We went from 21 days in May to 25 in June. But sellers are still getting 99% of what they are asking, on average. Deals are still being had, but it is seller and property specific. We are on track for another increase in days on the market as we are at 27 days for July so far. July is usually one of the strongest months of the year. It will be very interesting to see what the numbers look like for July 2020 when they come out early August.
If it’s possible, keep your head down but your chin up. Lol. As long as you have a great Realtor team and excellent local lender, you will get a great home. The Weintraub & Wallace Team keeps closing transactions left and right, just another year, the same old routine. If you need a winning team who is passionate about the success they bring to their clients, you are halfway there by just reading this blog.
Reach out to us anytime for all of your real estate needs. Call Weintraub & Wallace Realtors with RE/MAX Gold. We can be reached at 916-233-6759. Another fabulous blog, on the Sacramento housing report, written by our very own fantastic team Realtor, Josh Amolsch!
— Josh Amolsch