Trendgraphix Report for November 2019

Published December 25, 2019 | By JaCi Wallace

The Sacramento Trendgraphix Report for November 2019 includes Sacramento County single-family homes. No other criteria are included so that we can get a broad understanding of what is happening. If you want to get updates for a specific area, even down to a ZIP code or multiple ZIP codes, or multi-family properties or land, sign up for Sacramento Home Sale Reports by ZIP Code.

The following blog was written entirely by our team member, Josh Amolsch. It is an excellent overview of the November market. This data is published a month behind to ensure all the information is available. We are so proud to have Josh as a member of our team. He works very hard to provide information to his buyers so they are educated about the hyper-local target market when they make offers. — JaCi Wallace

The number of single-family homes for sale (inventory) in Sacramento County fell 15.4% in November 2019, compared to the month prior and is down 37.5% from November 2018 according to the latest Sacramento Trendgraphix Report for November 2019. While it is a seasonal norm to have inventory and buying activity slow in the winter, pending transactions in November 2019 are up 17.9% from November 2018. That means that buyers are buying more than they were last year at this time. That doesn’t sound like a recession to me.

We have also seen Average Cumulative Days on the report drop to 33 days from 34 days in October 2019. This is telling as this number usually goes up during the winter months. Pendings are up, inventory is down and the average days on market is dropping. The new listings are way down, per the Sacramento Trendgraphix Report for November 2019.

This means higher prices for the foreseeable future, but not necessarily the top of the market you may hope for. People have been singing that tune for probably two years now. It’s not the top of the market just because one might feel like it is. There are many other factors that affect the housing market. Supply and demand are just about the biggest drivers in the market.

Sellers are also getting on average 98% of their asking price in November 2019, up 1% from October 2019. This doesn’t feel like a seasonal slow down to me! The buyers we represent end up owning a home because they understand the reality of the market. Buyers believe in a particular neighborhood, so this data proves useful to buyers when making a buying decision.

The median home price is holding steady at $385,000 for October and November. It is up 5.5% over November 2018. Interest rates are phenomenal and buyers are out in full force. We can just call it spring this December, as we are barely getting rain anyway.