The real estate market is experiencing something quite unique. High volume and high prices…Low Inventory!!!
Here are the Highlights:
- Half of all sales sold in seven days or fewer last month
- For six months in a row sales volume has outpaced last year
- We only have three weeks of supply (that’s crazy low)
- We have the lowest monthly inventory in 15-20 years (at least)
- Buyers made twice as many offers last month compared to last year
- The number of listings has been chopped in half
- Price metrics are up about 12-14% from last year
- November 2020 regional volume is up 25% from November 2019
- 63% of all sales had multiple offers last month
- There were 53.6% more multiple offers compared to last year
- Each sale last month had an average of 3.22 offers
- Sales volume is up about 2% over the past 12 months
- There were 106% more million dollar sales from July to November.
Here are some more amazing statistics regarding real estate prices in Sacramento. Thank you to Ryan Lundquist, our local Sacramento Appraiser, for this insightful data.