Our market has some great opportunities for homebuyers and sellers alike.
March Madness is over, but the madness of our Sacramento spring market is just beginning. The latest numbers have just arrived, and they show that the super-hot market is only getting hotter.
“If you put your home on the market today, you’ll get more than you ever would have before.”
On average, homes sold within 23 days last month. Even though asking prices have already been high, these homes sold at 101% over the asking price. Needless to say, it’s currently a perfect market for sellers.
Home equity is higher than it was just before the 2008 real estate crash, and inventory remains low for a number of reasons. The pandemic has stuck around much longer than any of us expected, it’s difficult to have open houses now, and many people are waiting to put their homes on the market. This means that if you put your home on the market today, you’ll get more than you ever would have before.
Buyers, there are opportunities for you now as well. Even though sellers may be making more, homebuyers get to enjoy one of the lowest interest rates in history. Numbers between 2% and 3% are unheard of, and the government has vowed to keep rates low for at least the next two or three years. This seller’s market will continue until inventory increases, but buyers need to remember that homes always appreciate. Even if you buy at a slightly higher price now, you’ll still see your value increase in the long run.
The best way to jump in is to find an experienced Realtor who knows the ins and outs of buying or selling in a hot market like ours. We have strategies that can help you get top dollar on your purchase or find a great deal on your purchase. If you’re ready to talk about buying or selling, or you have any questions about real estate, feel free to reach out to me. I look forward to speaking with you soon.
