Inventory Continues to Grow

If you have been reading my Blog you know, one of the sites I look at routinely is Housing Tracker. They monitor the inventory of homes on the market and the median asking price. As of April 14, the Sacramento inventory level stood at 8,334. This is an increase of just about 1,500 homes from the start of the year and 1,105 more than was on the market Feb 1. Since March 1, when there was 7,663 homes on the market it is an 8.7 percent increase. In the last two weeks we have seen inventory grow 231 homes to the current level. I suspect the number will be higher again on the next reporting date, April 21 and will continue to grow until we start getting some dry and warmer weather to bring out the buyers. By the way, our friend at Sacramento Land(ing) did a similar post on inventory and claims the current 8,334 homes on the market now, “… exceeds the high-water mark reached in November 2005….”

The median asking price reported by Housing Tracker in Sacramento was $389,990. This is the highest median price reported this year although, if you look, it has been staying anywhere from $389,000 to $389,900 over the past several weeks.

With some nicer weather forecast for this week, I am hoping to see some increased buyer activity, especially on my listings!