The Sacramento housing market is still very competitive. Homes in Sacramento can receive 4 offers on average and sell in around 10 days. The median sale price of a home in the area was $490,000 last month, down 7.5% since last year.
Many homes are still getting multiple offers, some with waived contingencies. The average home sells for about 1% above list price while hot homes can sell for about 5% above list price and go pending in around 6 days.
The Sacramento housing market has been a topic of great interest for homeowners, real estate agents, and investors alike. As with most of California, Sacramento is currently a seller’s market. The market forecast indicates a projected increase of 0.8% in home values over the next year, suggesting a positive trend soon. The side benefit of the relatively affordable Sacramento real estate market and increasing demand is that any real estate investment there will see significant appreciation.
One of the reasons the Sacramento market is much healthier than other areas is due to its true income mix. It offers real estate investment investors more options than luxury homes and densely packed affordable units, the only types of housing you see built in San Francisco.
If you are interested in purchasing or refinancing a property in Sacramento, or anywhere in California or Hawaii for that matter, but do not qualify for a conventional loan or just need some fast & flexible financing, consider a private mortgage with Sun Pacific Mortgage. Over the past 35 years we have helped over 10,000 borrowers get financing when everyone else turned them down. You can reach us at 707-523-2099 or find us at www.sunpacificmortgage.com.