New Record Every Day

Inventory of homes available for sale in the greater Sacramento area continues to grow. Looks like we will end July with over 18,400 homes on the market which is 3.5 percent more than a month ago and a whopping 44 percent increase from where we were six months ago. During the same time the median asking price has dropped 2.5 percent in the past month and 3.8 percent in the past six months to $385,000. It wasn’t that long ago that it was holding steady at the $400,000 level. For a detailed look at inventory here in Sacramento, check out HousingTracker.

I’d say we will top out and begin a gradual decline in available homes before we hit the 19,000 level and maybe the median asking price will slip to $383,000. By the end of August we will see declining inventory and maybe even some firming of asking prices.

Speaking of inventory of available homes, I added a new listing yesterday. I am excited about it because this home shows like a page out of the Pottery Barn catalog. It is a beautiful home located in the Sierra Valley Oaks subdivision off of Sierra College Blvd. in Rocklin. The home, on Tanus Circle, is a 4 bedroom, 3 bath beauty in a great neighborhood with wonderful schools.

Congratulations to Michael and Kelly who took their State of California Real Estate License test on Saturday and both passed with flying colors.