So . . . What's happening in the market?
What's happening in the market? That's the question that I get asked most often. And my answer is always the same... "Well, it depends." Mostly it depends on what price point you are in for both buyers and sellers. Will my home sell fast, and will I have to compete for the home with multiple offers are essentially the same question from different sides of the fence.
With one simple graph, differentiated by price point, you can get a pretty good idea of what the market is doing at any one time. The Months of Inventory based on closed sales gives you the factor of the number of properties for sale (within your price point) divided by the number of properties sold. As a rule of thumb, an inventory level of less than three months indicates a strong seller market while an inventory level greater than six months indicates a market that will favor buyers. Anything between three and six is a balanced, ordinary market.
Take a look at the price point you are interested in and you can deduce for yourself - if your home will sell fast or if you'll compete against multiple offers. Of course there are numerous other factors involved and that's why you consult with a qualified Realtor®.
All Sacramento Single Family Homes from $ to $349,999
All Sacramento Single Family Homes from $350,000 to $749,999
All Sacramento Single Family Homes over $750,000