Right now there is very little inventory in the market in East Sac as well as all the other neighborhoods in the greater Sacramento area.
I’ve been telling clients for a while that we are at what seems like a historically low level, but I hadn’t taken the time to research the numbers. I just knew that having only 26 active residential listings in the East Sac/River Park neighborhoods is the lowest that I’ve ever seen it.
Looking at the current listings I see that out of those 26 Active listings only 12 of them are properties that were listed in January. The other 14 are properties that have been on the market for a long time due to unrealistic price, poor location or condition or some other factor. Out of those 12 active January listings, 8 of them are less than a week old and are probably just wanting to have 7 days of market exposure before reviewing offers.
Taking a look at it from a different direction I see that we have 46 Pending Sales in East Sac/Rive Park. 5 of those are long close time and have been Pending for a while, but the other 41 are properties that went Pending since the start of January. Most properties are going Pending within 2 weeks of being listed for sale.
It is so tempting for me to go down the rabbit hole of data to find out how we compare with the low inventory records of the past (95816 and 95819 has a lower inventory today compared to January 2013 which was our historic low point for the county), but I’ve got to get back to work to help my buyers fight to get their offers accepted and help my sellers pick which of the multiple offers to accept on their listing.
I don’t like using what I consider cliché terms for the industry, but this sure is a great time to list a house for sale. It’s a much harder time to buy one though…