Realty Plus
Helping Buyers and Sellers make decisions with knowledge.

 

 


Sacramento Property
1730 27th St., Sacramento, CA 95816
$1,500

1730 27th St.
Sacramento, CA 95816

Beds: 1
Baths: 1
  Sacramento Property
2245 Park Towne Cir, Sacramento, CA 95825
$600

2245 Park Towne Cir
Sacramento, CA 95825



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As of 11/19/2018, the Sacramento MSA market is slowing. This is due to a few factors that make themselves manifest. First, it is the holiday season, and this is the buying and selling slow season. Secondly, the increase in interest rates from 4% (approximately) to today's current rate of 5% (approximately) has dampened the buying spirit. Third, the Bay area is slowing. Sacramento has significant buyers that relocate here to take advantage of our special location (close to the Bay Area, yet not part of that bustling area and a bit slower and calmer and more peaceful; and close to the mountains; and typically, a more affordable area than the Bay Area are reasons why we have lots of people migrating here from the Bay Area). That segment of the market has dropped off the table. Lastly, investors have slowed down...simple math...the market prices don't justify the purchase values with the present rents (even though rents have gone up more than 25%, it does not make sense to buy a $400,000 home that rents for $2000/month and this is a present market scenario).

Evidence can be seen by the declining sales, the length of time on the market (DOM) before a buyer is found; and by the list price to sold price factor, which has decreased as of the writing of this letter. Sales are down from last year approximately 6.7%; the DOM for a home today is 37 days...where in March through May of this year it was 21 days on the market; the list price to sold factor was 99% in March to April of this year...this month it is 97%. (Data supplied by TrendGraphix).

So, what does this mean for a buyer or seller? As a buyer, stay on the fence and be ready to pounce when you find the right property. As a seller, if you are trying to get top dollar for your home today and you have been sitting on the market for months, you may consider renting it out till the next upswing. Please note, I do property management and it is still a good rental market. Or, if renting your home out is not an option, consider taking it off the market till March of the coming year.

Realty Plus is a full-service real estate company. It is a small company with two brokers (Michael Gesner and Naeem Syed), and just a few agents (Cora Allison, Minha Javed, esq., and Ras Siddiqui). We look forward to working with you.
Realty Plus

 

 

Michael

 

 


Realty Plus (Michael Gesner, Broker/Owner)

2245 Park Towne Circle, Suite #1
Sacramento, CA  95825

Office 916-368-PLUS (7587)
Cell 916-600-7556
Fax 916-488-1556
Toll Free 888-344-2320
Michael_Gesner@ sactorealty.com

Realty Plus (Michael Gesner, Broker/Owner)

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