Mind-Blowing Sacramento June Housing Market Report

County of Sacramento June Housing Market Report for 2017.

When I look at the Trendgraphix numbers for the Sacramento June Housing Market report, I am astounded. How quickly we jumped from a median price in the 7-county-region of $389K to $400,000. Prices are continuing to climb; buyers are clawing tooth and nail to buy a home, and interest rates are increasing as well. Where will it stop? At what point will people say they don’t want to move to Sacramento or they will take a job elsewhere?

Of course, in California, where else are they gonna go that’s an affordable metro area? Or will we turn into a state of tenants paying rent to foreign investors?

As a recent report pointed out, we haven’t seen a median price of $400,000 since 2006. And you know what that year was like. Falling prices, and a collapsed market. There are those who will say we are headed toward a bubble, but that’s literally impossible. Many of our transactions are cash or with high equity positions, which is the reverse of what was happening in 2006 when the market began to crash.

In the county of Sacramento, our median price in the Sacramento June housing market report is $348,000. Our days on market on average is 18 days. In the entire Sacramento Region, our days on market average is 21. Most of my listings go on the market on Thursday night and by Monday, we have multiple offers and are in escrow.

I tell potential sellers if you could pick a date in the last 25 years to sell your house that was the absolute best time ever, this is definitely that time. If your house needs work, no problem, it will sell at top dollar AS IS. If you’re a buyer, hire a strong agent with access to a lot of listings and don’t try to lowball. Be aggressive. Fight for what you deserve.

On the amusing side, there must have been some sort of investment flipper seminar held in the area lately, maybe a Chief Denny thing, I dunno. Because I’ve received a half dozen of phone calls that start out, “Hi, I am a cash investor who is looking to buy homes at a discount and flip them.” I ask: did you just go to a seminar? But they are too embarrassed to be truthful. They also obviously do not understand the Sacramento June housing market report.

Chart: Trendgraphix, used with permission.