Sacramento, CA Real Estate Market Update [October 2022] | Tom Daves Team w/ eXp Realty
Channel: TomDavesRealtor
Date: 2022-10-14

As we head down the last quarter of the year, we traditionally see a slowdown, but right now the market still seems to be plugging right away. So let's dig into the numbers and see what's really happening right now in the market.

The recent data from September stayed on track from the previous months, despite all of the new media headlines that tend to terrify rather than clarify.

These are the numbers are Placer, Sacramento, and El Dorado counties. And on this first chart, it shows us the inventory.

We saw a fractional decline in homes for sale from 3745 in August down to 3696 homes for sale in September. This likely relates to homeowners wanting to wait to see where the market is going, and it's also seasonal.

And in the dark green we see the sold properties. We saw a slight decline in sold property from August 1828 to 1633 in September. And in the pending sales, we saw a 20% decrease from August, 1898 pending homes to 1504 in September, which again is a seasonal trend. This next chart shows price per square foot, which we continue to see a small drop.

This is to be expected as the values have been decelerating the past few months, and on this next graph, We have the list to sold ratio, which continued its slight decline from 96% in August to 95% in September, meaning that the homes on average are selling at 95% of what they have been listed for and down below, and the orange, we see the average days on the market, which has increased by another six days in August to September, taking homes on average to only still sell in 35 days.

And lastly, our months worth of inventory increased from August's 2 months to 2.3 months in September. This is related to the decrease in the homes on the market.

So what does this mean if you're a buyer? Well, don't let the fearful headline scare you. You still have a lot of options available. Sellers are willing to negotiate with you, and you don't have to feel rushed when shopping for a home, even though we saw a slight decline in the homes for sale coming onto the market, there's still a lot of homes for sale and people are buying and people are selling.

There's 5 changing events that drive homeowners to still sell their homes.

Death
Divorce
Diplomas
Diapers
Daily Grind

 And what does this mean if you're a seller...Yes, prices are decelerating slightly, but they're not depreciating. We are seeing home values correct from the unsustainable market that we've experienced in the last couple of years. We are still seeing home sell at or above list price if they are priced right.

And we're seeing a surplus of Cash Bay area buyers that are looking to relocate to the greater Sacramento area.

So if you have any questions, please feel free to reach out 855-Tom-Daves, or go to www.TomDaves.com

Buying a Sacramento Area Home? Search ALL Homes For Sale: 
https://www.sacramentometroproperties.com/

Selling Your Sacramento Area Home? Get a FREE Home Value Report: 
https://www.tdaves.com/whats-my-home-worth

Tom Daves
Tom Daves Team
Sacramento, California
CalBRE #00581837
Phone: (916) 296-5841
Toll Free Number: (855) 203-2300
Email: tom@tomdavesteam.com
Website: www.tdaves.com