Sacramento County Housing Report for January 2020
The Sacramento County Housing Report for January 2020 includes Sacramento County single-family homes. No other criteria are included in this particular report so that we can get a broad understanding of what is happening in our area. If you want to get updates for a specific area, even down to a ZIP code or multiple ZIP codes, or multi-family properties or land, sign up for Sacramento Home Sale Reports by ZIP Code.
One of the most important metrics in the Sacramento County Housing Report for January 2020 is that single-family homes are selling faster. The graph below shows 39 days is the average time on the market. Homes are selling close to the seller’s asking price. The green line below shows homes are selling at 98% of asking price, which is also higher than they were in January 2019. Are you writing offers? Are they in line with what sellers are asking?
The silver lining for buyers is that the median home price for Sacramento County dropped in January 2020 to $375,000. This is a 2.6% drop from December. But, that is still a 6.2% increase from January 2019 as depicted by the blue graph below. If you haven’t found your dream house, you may have an uphill battle, especially in the median price points. Our advice is to hire an exclusive buyer’s agent to help you navigate in this highly competitive seller’s market.
Shop a location you believe will be good for you and your family. Sellers are less likely to do repairs in this market and will be looking for as-is offers. You can earn sweat equity buy fixing up your home slowly over time, within your budget. There are plenty of quality vendors out there looking for work.
The new listings rebounded in January, up a whopping 71.5% from December 2019, but still down 7.6% from January 2019. This brought the total available inventory in Sacramento county to an anemic 1,233 homes, a 1.7% increase from December’s low. Hey, we’ll take what we can get! (See the green graph featured at top of the blog post). If you would like to see a quick but informative guided video presentation of the trends housing report for this month, click here, Video link.
— Written by, Josh Amolsch