Sacramento Real Estate Market Update April 2017

Tower bridge early summer in Sacramento from the banks near the levee bike trail.

There seems to always be good news and bad news in a Sacramento real estate market update for single-family homes. The really bad news (because I always like to get the bad news out of the way first) is we have only 1,318 homes in Sacramento County for sale (not counting condos). That’s pitiful. It’s really low. The only thing that makes it worse is the fact we have so many interested buyers who would like to buy a home and there are not enough homes for sale to satisfy that demand. Which happens to be the good news: there are a lot of buyers out in the April market.

Our pending sales (in escrow, waiting to close) are 1,547 homes. The single-family homes that have sold in the month of March number 1,326. No matter how you look at these numbers, we have fewer single-family homes for sale than the number pending or the number sold last month, which means without new listings, we could shut down the real estate market in about 3 weeks. There’s your Sacramento real estate market update in a nutshell.

Tell me about it. I’ve been closing escrows left and right lately. I can’t keep a home on the market longer than a week to save my life, not that I would really want to make a seller wait any longer than necessary, but geez, I get attached to my listings and then they are gone. I have quite the large number of listings in my lineup right now that I’ve been working on, some for months.

One of my soon-to-be-on-the-market sellers asked me yesterday, how can you do my open house when you have so many properties to sell? What properties to sell? They have all sold. Every single one of them. Sold. S-O-L-D. I have not had zero listings in my inventory for maybe 10 years. OK, says the client, but you’re getting probably at least one a week. Yes, but then it sells. S-E-L-L-S.  She was worried I would not have time for her.

You’re my sole focus, I assure her. Get that furniture out of the master bedroom, clean up the house and let’s sell it. She’s already done all the hard work and the repairs that were needed. Let’s get that baby on the market. If I have to be in twenty places at the same time, I can work that magic. Why, I can remember juggling 75 listings about 6 or 7 years ago. I’ve got all of this energy and no place to direct it.

If you’re looking to sell a home in Sacramento and would like to hire a top  Sacramento Realtor with more than 40 years of experience, call Elizabeth Weintraub at 916.233.6759. Sellers should capitalize on this momentum.