Up, up and beyond!

Another week of watching inventory of homes for sale in the Sacramento area continues to grow and I don’t see anything on the horizon to stop this year’s inventory from exceeding the record highs we experienced last year. As of May 21 there were 16, 608 homes in the greater Sacramento area as counted by HousingTracker. This is an increase of 260 from the week before and an increase of 6.3 percent in the last month and 26.1 percent in the last three months.

The difference this year is although increasing inventory puts downward pressure on pricing the median asking price in the Sacramento real estate market has remained resistant to any significant drops. Looking at the first five months of 2007 shows that average median asking price in January of $402,399 has only dropped to an average of $399,000 in May. In the past month the drop has only been .2 percent.

So far, the Memorial Day weekend looks like it has been busy for sellers with lots of open houses and potential buyers out looking. Don’t forget to check out my latest updates over at MyForSaleSign and check out the new Meet Our Team page.