Year over year statistical data for Sacramento Tri-County ending November , 2021

This report is generated around the 20th of each month once the previous months numbers have been posted. What we see here is a report generated for the Tri-County Housing Market which includes Sacramento, El Dorado and Placer Counties through November 2021. So we are always looking a month behind. Our statistics are derived from the Metrolist  This is the Multiple Listing Service provider for all real estate brokerages in the Tri-County region. If you have questions or wish to know a more specific account of your properties value and the timing of either selling or buying we are always happy to jump on a Zoom or meet with you at your property to evaluate and discuss a strategy. We can be reached via cell/text 707.580.3499 or email us at concierge@elitepartnersrealestate.com

Quick Facts

Year over year statistical data ending October , 2021

SOLD

2,074

LISTED

1,464

PRICE

$623,000

DOM

19

Tis’ the season for change and falling inventory levels. As we head into the holidays and Winter just around the corner we start seeing the market shift we always witness this time of year. Our SOLD inventory is down -10.5% with 2,074 homes selling in the month of November. Our new listings fell -4.4% as well to an all time low of 1,464 new listings. These still are extreme lows compared to pre-pandemic numbers. Even as our month over month numbers are way down. November SOLD properties ar -9.4% and our listed inventory fell -28.4%. This is -58.4% less than November 2019 listings. 

This continues to be the big red flag in that our inventory levels remain far below normal. I will point out that buyers can expect a slightly better deal during the holiday and early winter months as demand slows creating better pricing and more importantly better chance of actually getting your offer accepted. Less competition always makes for better buying opportunity. 

Our Days On Market (DOM) has slightly increased month over month from 17 days to 19 days +11.8% but still down from a year ago from 18 days (+5.6%). DOM measures the time it takes for a home to get into contract. While it is fun to share with your neighbors how quickly your home sold but keep in mind to take true advantage of this sellers market you should work with a professional that has a solid marketing and advertising plan to get your home the most exposure possible and allow at lease 10 days of market exposure so you are not leaving money on the table. 

We are still showing a very strong year over year price increase of +14.3% increase with pricing reaching $623,000. When. you think about gaining nearly 15% on the appreciation of your home over the last 12 months many of you earned more in equity than you did from your job. If you purchased a home for $545,000 (the average price one year ago) and gained 15% appreciation you would have earned $81,750 or $6,812.50 a month.  This also represents a +3.8% month over month. 

With the Federal Reserv announcing on December 15th, they plane to double the tapering rate and indicated interest rates would increase next year. It’s only a matter of time before we see prices fall as much as 5% to 10%. Remember the general rule is when interest rates increase home values decrease. 

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The opinions expressed in this report are those of Don McDonald, Founding partner, and REALTOR with RE/MAX Elite Partners brokered through RE/MAX Gold. They are not in any way intended to express what RE/MAX, RE/MAX Gold or any other agent or brokerage may think. It is my honest analysis backed but some market data. Check back each month around the 25th or so for an update as we continue down this path. 

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