new sacramento listing
March 2020 housing statistics for Sacramento County is certainly welcome news, per Josh Amolsch, who wrote this blog. Josh is an exclusive buyer’s agent on our team. He really brings to light the numbers and how you can apply them to your situation if you are buying or selling. Enjoy, it’s a great read. — JaCi Wallace
The first thing I noticed about the new March 2020 Housing Statistics for Sacramento County was that the median sales price for single-family homes reached $400,000. This is a 9.6% increase over March 2019. Going back to 2004 shows that this is an all-time record. The last time we were this high, besides last month, was August 2005 when the median reached $395,000. But, $400,000 may seem like a bargain when you consider the median sales price for the four-county region in March 2020 reached $440,000. Wow.
Average Days on Market, Original List Price VS Sales Price
COVID-19 has changed the world over the last month. We Realtors have been working harder than ever. We are fielding many calls from clients, writing offers and finding ways to help our clients during these crazy times. The orange chart above shows that buyers are still buying and at a higher rate of speed than in the same month, last year. Homes are selling 31.8% faster than one year ago and sellers are getting closer to their asking price in March 2020 vs March 2019. Real estate ain’t crashing folks. March 2020 housing statistics for Sacramento County show pending sales are still strong.
The effect of this Covid19 Virus on the real estate market is bearing no similarity to that of the 2008 crash, according to the March 2020 housing statistics for Sacramento County. The “Great Recession” was launched largely in part because people were allowed to buy homes they couldn’t afford. Lender regulations are pretty stiff these days to avoid a repeat. Always learn from past mistakes, right? Have you gone through a pre-approval recently? If so, you know that you have to show proof of everything, including your ability to afford your mortgage. Interest rates are continuing at record lows.
For Sale, Pended and Sold
Where we can see possible evidence of COVID-19 having an effect on Sacramento real estate is in the Pending’s metric. New escrows for March 2020 fell 1.3% from February probably because of a knee jerk reaction to how to tour homes now. Also, add on that little episode with the banks raising rates because of the run on refinancing and purchase loan applications. But, that is still 88% of the entire inventory available in March! New listings are up 11.3% over February 2020.
I predict a continuation of a similar market to what we have been experiencing in the last several months. Low inventory, lots of buyers and agents duking it out for listings is considered normal. Technology, smiles and firm handshakes aside, your home will sell when it is priced right. Always makes a difference if you have great curb appeal as you only have one shot at a first impression.
Always make sure your property is marketed by a top tier real estate team. If you would like to chat with agents who have weathered almost every type of storm the real estate market has experienced in several decades, then give Weintraub & Wallace with RE/MAX Gold, a jingle at 916.233.6759.
Finally, a home for sale in Sacramento that first-time home buyers can purchase and also get a credit to buyer for $4,000. The buyer can use that money to buy a new dishwasher and range. One of the seller’s disgruntled family members removed those appliances from the kitchen. There’s even enough money leftover to buy a brand new stainless refrigerator.
Need furniture? There’s quite a bit of abandoned furniture left in this home that is yours for the taking. Or, the buyer can sell it at a garage sale after closing escrow. A lot of the furniture is in fairly good shape. There is a sofa, a kitchen table with chairs, a couple of children’s beds, a few dressers.
This home features 3 bedrooms plus a den. The den has built-in shelving and could be considered a bedroom as well, although there are a few holes in the walls in that room. Nobody knows why. Minor fixes, though, and not a big deal. The door leading into the den is pretty banged up, too.
But the rest of the house seems to be in good condition. Just needs to be cleaned up, swept up, polished, and maybe a bit of painting. Stuff just about any buyer who wants to save a few bucks when buying a home could do. Hence part of the reason for the credit to buyer.
There are also two room additions at opposite ends of the house. One room is a big family room with a lot of windows, exterior access to the back yard, and a ceiling fan. When I shot the photo, the neighbor next door continued to walk into the room, so my really good photo of the room is not usable. I tried to hire my usual photographer but he is booked solid all week, so I shot all of the photography myself.
The other room addition is a big family room, also featuring a lot of windows, a ceiling fan and exterior access to the back yard. This home sold two years ago with a VA loan, so we’re not expecting any difficulties with an FHA loan or even VA.
Come to our open house on Sunday from 2:00 to 4:00 PM or call the listing agent, your Sacramento Realtor, Elizabeth Weintraub, Lyon Real Estate at 916.233.6759 for a private showing before then. Very affordable price. 3146 Northstead Drive, Sacramento, CA 95833 is offered at $289K, with a $4,000 credit to buyer.
My new Sacramento listing is a beautiful, move-in ready home at an affordable price. You don’t see too many homes in this price range that are updated like this, so all you fussy buyers pay attention. This home features a remodeled kitchen with newer cabinets, granite counters and mostly stainless appliances, except for the refrigerator, which is white. You’ll also find plenty of recessed lighting throughout the house.
Another astonishing feature is the open floor plan in a home that was built in 1977. All the walls are gone that separated the living room and dining room from the kitchen. It’s almost like a loft space. Not to mention, that open floor plan makes this new Sacramento listing seem like it’s a much larger house than it is, and the wood-like flooring lends an old-feel.
The home has 3 bedrooms, all fairly good sized with large closets. The bath has been updated with stone and tile, a newer light fixture and tile flooring. Laundry hook-ups are in the garage, and the washer and dryer can stay with the house if you ask for it in the purchase contract.
One of the highlights of this home is the large back yard and how private it is. There are raised beds with many trees that make you feel like the yard is your own private oasis; there are no snoopy neighbors who can peer into your yard. Plus, there is an orange tree. It is fenced, so you can get a dog if you like.
Come see this new Sacramento listing at our open house on Sunday, June 11th, from 2:00 to 4:00 PM. You can also check out the virtual tour here. 6707 Blue Duck Way, Sacramento, CA 95842 is offered exclusively by Elizabeth Weintraub and Lyon Real Estate at $229,900. Call Elizabeth at 916.233.6759 for more information.