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March 2020 Housing Statistics for Sacramento County
March 2020 housing statistics for Sacramento County is certainly welcome news, per Josh Amolsch, who wrote this blog. Josh is an exclusive buyer’s agent on our team. He really brings to light the numbers and how you can apply them to your situation if you are buying or selling. Enjoy, it’s a great read. — JaCi Wallace
The first thing I noticed about the new March 2020 Housing Statistics for Sacramento County was that the median sales price for single-family homes reached $400,000. This is a 9.6% increase over March 2019. Going back to 2004 shows that this is an all-time record. The last time we were this high, besides last month, was August 2005 when the median reached $395,000. But, $400,000 may seem like a bargain when you consider the median sales price for the four-county region in March 2020 reached $440,000. Wow.
Average Days on Market, Original List Price VS Sales Price
COVID-19 has changed the world over the last month. We Realtors have been working harder than ever. We are fielding many calls from clients, writing offers and finding ways to help our clients during these crazy times. The orange chart above shows that buyers are still buying and at a higher rate of speed than in the same month, last year. Homes are selling 31.8% faster than one year ago and sellers are getting closer to their asking price in March 2020 vs March 2019. Real estate ain’t crashing folks. March 2020 housing statistics for Sacramento County show pending sales are still strong.
The effect of this Covid19 Virus on the real estate market is bearing no similarity to that of the 2008 crash, according to the March 2020 housing statistics for Sacramento County. The “Great Recession” was launched largely in part because people were allowed to buy homes they couldn’t afford. Lender regulations are pretty stiff these days to avoid a repeat. Always learn from past mistakes, right? Have you gone through a pre-approval recently? If so, you know that you have to show proof of everything, including your ability to afford your mortgage. Interest rates are continuing at record lows.
For Sale, Pended and Sold
Where we can see possible evidence of COVID-19 having an effect on Sacramento real estate is in the Pending’s metric. New escrows for March 2020 fell 1.3% from February probably because of a knee jerk reaction to how to tour homes now. Also, add on that little episode with the banks raising rates because of the run on refinancing and purchase loan applications. But, that is still 88% of the entire inventory available in March! New listings are up 11.3% over February 2020.
I predict a continuation of a similar market to what we have been experiencing in the last several months. Low inventory, lots of buyers and agents duking it out for listings is considered normal. Technology, smiles and firm handshakes aside, your home will sell when it is priced right. Always makes a difference if you have great curb appeal as you only have one shot at a first impression.
Always make sure your property is marketed by a top tier real estate team. If you would like to chat with agents who have weathered almost every type of storm the real estate market has experienced in several decades, then give Weintraub & Wallace with RE/MAX Gold, a jingle at 916.233.6759.
Affordable and Updated Del Paso Manor Home For Sale
2416 Avalon Dr, Sacramento, Ca 95864 is offered by Elizabeth Weintraub at Lyon Real Estate.
The seller of this Del Paso Manor home has lived there for 22 years. This is a 1950 Lusk home, and you can see the small detailing that builders no longer do. Things like an angled corner in the hallway to make it easier to navigate mattresses around the corner, and slightly angled walls near the entrances to the bedrooms.
There is great pride of ownership evident. This is not a flipper. When a person loves his Del Paso Manor home, it shows. Sellers like this tend to take impeccable care and stick to maintenance schedules like clockwork.
Dining room and formal living room with fireplace at 2416 Avalon Dr.
You’ll find hardwood floors in the living and dining room, all of the juke boxes, btw, have been removed. A beautiful mantle graces the fireplace. Note the original shelving near the pass-through to the kitchen, with built-in glass cabinets below.
Beautifully remodeled gray and white kitchen at 2416 Avalon Dr.
The kitchen has been redone. New cabinets with brushed nickel hardware, gorgeous flooring, granite counters, tiled backsplash, pre-rinse faucet, even a dining bar, and all of the stainless appliances are new, never been used: dishwasher, microwave, gas range and refrigerator.
Updated bath at 2416 Avalon Drive with a tile tub surround.
You’ll find 3 bedrooms, plus a family room featuring French doors that lead to the huge back yard. The bath has been updated with tile, a newer vanity, mirror, light fixtures and cabinet.
Family room addition brings additional square footage to 2416 Avalon Dr.
This Del Paso Manor home is situated on a large lot, almost .20 acres, completely fenced. In addition to the garage, there is a workshop / house with windows and a storage shed. The El Camino does not stay but the seller is interested in selling it.
Huge yard with a workshop house and a storage shed at 2416 Avalon Dr.
Come to our open house on Sunday, May 21, from 2:00 to 4:00 PM. Or call Elizabeth Weintraub at 916.233.6759 for a private showing.
2416 Avalon Dr, Sacramento, CA 95864 is offered exclusively by Elizabeth Weintraub at Lyon Real Estate at $329,000. See the virtual tour here.
New Gardenland Listing Looks Straight Outta Pottery Barn
2808 American Av, Sacramento, CA 95833 is for sale at $259,000.
When I first visited this Gardenland listing in Sacramento, I kinda gave the seller a hard time about his home stager cousin. I asked him for the name of his company, asked whether the guy had ever been paid for home staging, drilled him about business cards, really questioned him thoroughly because I wasn’t certain his cousin would do an adequate job. I’m always a bit wary when sellers tell me they have family members who do real estate-related jobs because there are so many wannabes out there.
I had to eat my words. It’s a good thing I didn’t place any bets or I would be chewing on my shoes right now or forking over a hundred bucks. The home stager cousin is wiz-bang miracle worker. It’s not often that I am wrong, but I freely admit when I am. The guy is a genius. The home also looks oh-so-much better without the pool table in the living room, as evidenced by the photos below.
This is a Gardenland listing that was already beautiful to start with. It has granite counters in the kitchen, newer appliances, ceramic floors and engineered wood flooring in the main entertainment areas. The staging just made the place pop with excitement. Also, much of the furniture will be sold personally, outside of escrow, by the seller, if the buyer wants any of it. He’s very reasonable with pricing.
You’ll find 3 bedrooms and 2 full baths, in addition to a formal living room, separate dining area, and a family room, which is vaulted. Also an indoor laundry room with cabinets, that comes with a washer and dryer, if you remember to ask for it in the purchase contract.
Another feature that makes this Gardenland listing unique is its huge yard. According to the Sacramento County Assessor, and this has not been confirmed by me, the lot size is .34. That’s more than one-third of an acre. Gigantic! Huge! Imagine lounging on the deck this summer under a covered umbrella, or leaning over the railing to throw your dog a stick to chase.
2808 American Avenue, Sacramento, CA 95833 is offered exclusively by your top Sacramento Realtor, Elizabeth Weintraub, and Lyon Real Estate at $259,000. Call 916.233.6759 for more information. Check out the virtual tour and photos below:
Formal living room greets you upon entry
Dining room near sliding doors to deck, and family room.
Dining area with kitchen beyond, creates an open floor plan.
Master bedroom adjoins a remodeled and updated bath.
Large deck oversees huge yard, and the front is fenced, too.
The Lowdown and Gritty Story of the Sacramento Housing Market
Sacramento housing market trends from Nov. 2015 through Jan. 2017 continue to reflect low inventory
Where is the Sacramento housing market headed? You might very well sing the answer. Where have all the houses gone, long time passing. Damn, if we couldn’t use a peace-loving force like Pete Seeger right now. I find it disturbing to read pieces by our trusted journalists because all of the articles are loaded with, well, news: Trump did this atrocious thing and Trump did this horrible thing and Trump did this other completely outrageous thing, and it’s disheartening, sad to the point of sobbing, miserable news. Lots of kudos, though, to those who are fighting the right fight, standing up, asking questions, demanding coherent answers, leading the way with progressive values.
But back to the Sacramento housing market. You didn’t come to my blog to listen to me rant, even though with our current state of affairs, it’s almost impossible not to. Our housing market is in big trouble with a capital T. I can’t get away from music today. At least it doesn’t stand for Trump. It’s a capital T that rhymes with C and stands for curtailed. Our housing inventory in Sacramento has been curtailed, diminished, reduced, cut, slashed and fallen off to the extent our pending sales are about to exceed the number of houses for sale.
You can see it clearly in the image above, copyrighted and used by permission from Trendgraphix. Our total number of houses for sale last month was 2,586. Not only is it the lowest number of homes for sale in Sacramento over the past 15 months, to give you a better comparison, it’s fallen about 80% from of our all-time high from August of 2005. Without any new listings, we could sell every house in Sacramento over the next 45 days. A month and a half. That’s tight inventory. So tight it squeaks. It’s a seller’s market.
Almost across the board, everything else is up. Pending sales (those homes that are in escrow but not yet closed) are up over last month by 17.6%; pending sales have increased over the same quarter a year ago, and same month a year ago. More homes closed in December than in January, but that’s because December’s closings were pending sales from October and November. December itself is seasonally a slow month. It’s why I take my annual wor-cation in Hawaii in December.
The second biggest story about the Sacramento housing market, apart from low inventory, is the whopping increased number of pending sales in the first two weeks of February. We are up 44.8% in pending sales over the first two weeks of January. That means demand is extremely high. Buyers are off the fences and ready to buy. Multiple offers are more the norm than not. Our inventory dropped another 8.5% since January 1. And prices are relatively stable at $208 per square foot, as it has been for the past half year.
If you’re looking to buy or sell a home in Sacramento, call the Elizabeth Weintraub Team at 916.233.6759. We can make sense of what’s going on and guide you.
CraigsList Rental Ad Scams Pull From Zillow
Couple calling to check on a CraigsList rental ad scam, thinking it is real.
No matter how many times I flag the CraigsList rental ad scams, they pop right back. I suspect that’s because they might not be investigated. CraigsList immediately removes these types of ads. But the crooks just put them back. Makes you wonder whether the users’ IP is turned over to the FBI because it’s certainly an internet crime.
I have figured out where the CraigsList rental ad scams come from, though. That’s because some of the crooks probably do not speak English. The ad copy in those ads is pulled directly from Zillow. I know this because my marketing comments for Sacramento homes for sale in Zillow are slightly different than the marketing comments in MLS. And it is the Zillow comments that are verbatim in CraigsList.
It’s fairly simple to go online to Zillow and snag that information to try to rip off unsuspecting tenants. Maybe they figure the people who aren’t smart enough to realize they should not send them any money are also not smart enough to read the ad itself and call the agent?
Or maybe they don’t realize that there is no rental business for agents in Sacramento? Far as I know, agents do not work with tenant applicants like they do in larger metropolitan areas in the country. Sacramento agents do not find tenants a place to rent.
Still, I get text messages and phone calls from tenants asking if they can rent properties through CraigsList rental ad scams.
