Is Summer a Good Time to Sell in Sacramento?
Before I talk about whether summer is a good time to sell in Sacramento, I’ve got to say how relieved I am to be back in California — where the weather is pretty much the same every day, and the pace of life more even — after my brief jaunt to Minneapolis to say goodbye to my brother. Just when you might begin to take your Sacramento lifestyle for granted, perhaps complain about hot it is, the rush-hour traffic or lack of shopping, going “back east” takes care of all of that, you spoiled little brat, you, and I’m talking about myself. It makes me realize why I love California.
Of course, the other thing is just leaving town tends to generate business. It’s like the law of nature. Step foot on a plane and everybody and his uncle will want you to list a home in Sacramento. I’m witnessing a big uptick in listings since the first of June. Usually this happens in August, when the weather is so hot nobody wants to leave their air conditioned home unless it’s to get away to San Francisco. I read an article this morning based on the predictions of an economist in Florida that the summer months for selling real estate this year might be more conducive for sales than summers of years gone by.
It’s possible we might experience a wild inventory rollover and that summer is a good time to sell in Sacramento this year. We’ve had low inventory for so long that a large number of buyers have not been able to buy a home in Sacramento. These buyers haven’t given up yet. When you look at multiple offer situations in which a dozen buyers or more are submitting offers and only one buyer can win, that leaves a big number of buyers without a home. I also imagine these types of buyers are irritated and frustrated.
Agents tell me when they submit offers for my sellers’ listings that this house might be the 10th home they have tried to buy. New listings are attracting a lot of attention. These buyers have become more hardened and determined. They are still going out to look at homes and they are still making offers. The smart ones ignore the comps and do what they have to do to buy a home, allowing an appraiser to equalize. It’s the laws of supply and demand at work in Sacramento, and demand has not withered. We haven’t had a high of two months of inventory since February of 2015.
If you’re wondering is summer a good time to sell in Sacramento, I’m gonna have to say yes. This year, anyway. If you want a top Sacramento listing agent to handle your sale, please call Elizabeth Weintraub at 916.233.6759.
Chart: Trendgraphix, used with permission