A little over a week ago Fox Dennis
Shanahan of Fox 40 News interviewed me to talk about how Sacramento
has become a seller's market again. This is something that us in the
industry have known for most of the year, but now all the market data
is out to support that.
The market analyst's over at Zillow had
identified Sacramento as the third hottest seller's market in the
country!
You can see the two minute news spot
here.
I had the good fortune to have the
whole video shot in my upcoming listing at 1210
40th
Street. This is an amazing 5 bedroom 4.5
bathroom home in the Fab
40's of East
Sac.
Here is the text summary from the Fox
40 site, but much more was covered in the video.
Real estate website Zillow recently
listed Sacramento as the third hottest sellers’ market in the
country, right behind San Francisco. San Jose was listed number one.
FOX40 visited with Nathan Sherman of
Dunnigan Realtors in Sacramento, who confirmed what the Zillow
ranking suggests.
“There is not nearly enough
inventory, and buyers are struggling to get a home under contract,”
Sherman said of the Sacramento market.
Year-over-year detached resale home
prices in Sacramento County have been consistently positive over the
past six months, according to DataQuick. The median price in
November was $185,000. That is 17-percent higher than the price in
November of last year. Potential buyers are finding themselves in
bidding wars.
Sherman also said it is not uncommon
these days to call a listing agent when a house comes on the market,
and learn that the agent already has ten offers in.
People waiting for the right time to
buy a home might be well advised to start looking soon, before things
heat up even more.
As Sherman put it, “People were
waiting for the bottom of the market. That has come and gone.”
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