Sacramento Ca Real Estate Monthly Market Update: April 2019


Jacob Garcia, Real Estate sales professional, breaks down the Sacramento CA real estate market in his monthly market update.

Quick market update at a glance:
– There are roughly 1,671 homes for sale on the Sacramento County MLS.

– The Average Sold Price was $407,000. Up 4.1% from $391,000 the previous month.

– The March 2019 Average Sold Price per Square Footage is $234. Up from $228 last month and up from $227 in March of last year.

– The Days on Market (DOM) for March 2019 was 36 days.

– Average Sold Price per Square Footage of $234 was up from $228 the previous month.

– The DOM for March 2019 was 36 days, down from 42 days the previous month.

The BIG takeaway from March’s Sacramento housing trend was the spike in the number of pending home sales. Pending homes sale spike to 1647 vs just 1226 the month before. A 34.4% Increase.

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The lower amount of new listings and the spike in pending sales, Sacramento’s Month of inventory fell sharply again down to 1.3 months. This indicator creates a sellers market once again, a reversal of the trend we have been seeing over the past months of 2018.

The sale price to list price ratio in Sacramento CA maintained its good ratio at 98%. While the days on market increase yet again. The increased days on market could be due to the winter months slow down.

Sacramento Realtor
Jacob Garcia

#SacramentoMarketUpdate #JacobgRealtor


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