Sacramento Inventory Decline is a Positive Trend

If you have been reading my blog you know that one of the items I have been watching closely over the past year has been the available homes in the Greater Sacramento area. One of the sites I have used to do this is HousingTracker. I have recently discovered they have a new site which changes their definition of Sacramento. Although the old site included some communities outside of Sacramento the new site includes even more. I believe the broader look at our local market provides better information so I am pleased start passing on some of their reports.

As of October 9, the new HousingTracker site reports Sacramento available inventory at 16,985 (compared to 11,428 using the old and narrower definition of Sacramento). This is down 398 homes from the week before and down from a high of 18,227 reported on August 28th. The inventory of homes is down 4.1 percent in the past month and is clearly a positive trend in our market.

HousingTracker is also showing a steady decline in the median asking price for homes on the market. Over the last month it has dropped 1.8 percent to 420,000 and 4.5 percent in the last five months. The positive news here is the prices have now dropped to a level where it appears many of the buyers who were waiting or “sitting on the fence” have started to shop.

Hey, I will be holding open both of my West Roseville – Diamond Woods listing this Sunday from 2 to 5 PM. Come by Greywood and Barnwood, say hello and take a look at two very nice homes. Please check out my new listing in Natomas too.

By the way, Michael and I are helping one of our clients move into their new home on Saturday. Now that is going the extra mile!