Sunday, April 5, 2015

Sacramento Real Estate Statistics - March 2015

The Sacramento home sales and price data for March 2015 is out, and not surprisingly, the median sold home price (in blue here) is still right at $280,000. What is also really interesting (and really telling about our local Sacramento real estate market) is that if you look at the average sold price  (in red) vs the "for sale" listing price (in green), you will notice that the average sold home price also held steady at $308,000...but the average listing price increased to pretty significantly to $400,000. Looks like sellers are getting a little ambitious with their listing prices, while the average and median sold prices are not increasing. It will be interesting to see where this trend takes us. Right now I would characterize the market as a "seller's market" -- not many homes for sale, high demand, fewer seller concessions, low interest rates in the mid-3% range -- but that might change as sellers start to push the envelope with price, more homes come onto the market, and interest rates rise. We shall see...

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