Median home prices in the Sacramento metropolitan area continue to rise at a brisk rate; on average 20% over the last 12 months. If you are interested in seeing what’s happening in your area, read on.
How long will prices continue to rise at this pace? Who knows? But one thing for sure is this…. It may be a good time to buy a home, but for many it’s a difficult and arduous process.
For sellers waiting to put their home on the market to maximize profit or reduce losses after the market crash, timing the market is usually determined in hind sight.
Keep this in mind if you are thinking about putting your home on the market in the near future……
- As interest rates rise, buyer’s purchasing power goes down.
- As prices rise, more homes will be placed for sale on the market. This will lead to increased inventory and will help to stabilize price and slow appreciation. In addition, the number of homeowners who owe more than the worth of their property is decreasing, allowing them to market their homes and avoid a short sale which will further increase inventory.
- The typical selling season runs from February – May/June. After June, people settle down and tend to focus on vacations and preparing their kids for school. August tends to be one of the slowest months of the year for home sales.
To see what’s happening with median price in your neighborhood CLICK HERE.
If you would like more specific information about home prices in your area, shoot me a quick email.
Real Estate Professional – 20+ years in home sales
Better Homes and Gardens Real Estate