July 2024 Newsletter

Hello

Welcome to the July edition of my newsletter! As the summer unfolds, the Greater Sacramento Region's housing market continues to thrive with exciting new opportunities. This month, I am pleased to share the latest market insights, expert advice for both buyers and sellers, a highlight on a remarkable property, 2024 Summer Olympic information, and closing it off with my calendar partners.

Whether you're looking to make a move or simply stay informed, my goal is to equip you with the knowledge and expertise needed to navigate the local real estate landscape. Let's explore the promising developments and opportunities July has in store!

Warmly,

Mercedeh Sheik

Market Updates

Greater Sacramento Region

Tri-Counties Data

Market Type:

Seller's Market

Homes for Sale:

3,130 units.

Up 11.1% from last month.

Up 45% from last year.

Homes Closed:

1,474 units.

Down 14% from last month.

Down 9.7% from last year.

Homes Placed under Contract:

1,663 units.

Down 3.8% from last month.

Up 4.4% from last year.

Average Sold Price per Square Footage:

$347.

Up 0.3% from last month.

Up 1.8% from last year.

Continuous Days on Market:

28 days.

Up 7.7% from last month.

Up 21.7% from last year.

Sold/Original List Price Ratio:

99%.

0% from last month.

0% from last year.

Average For Sale Price:

$855,000

Down 1.8% from last month.

Down 7% from last year.

Average Sold Price:

$692,000.

Up 1.8% from last month.

Up 2.2% from last year.

Months of Inventory Based on Closed Sales:

2.1 months.

Up 30.4% from last month.

Up 60.5% from last year.

Placer, Sacramento, El Dorado Counties

Combined Tri-Counties Single-Family Home Stats

Number of Homes For Sale/Sold/Pending

Average Price Per SQFT (SOLD)

Average Closed Days on Market & SOLD Price vs. LIST Price %

Average Price For Sale & Sold

Months of Inventory Based on Closed Sales

Buyer's Market: More than 6 months of inventory based on closed sales.

Seller's Market: Less than 3 months of inventory based on closed sales.

Neutral Market: 3 - 6 months of inventory based on closed sales.

Selling your home? Here are some negotiation tips

It's no secret America is experiencing a real estate market in which the seller has the upper hand.

Historically low rates of homes coming onto the market have created this situation, even though our mortgage costs remain high as the Federal Reserve continues to keep the cash rate high to fight inflationary pressures.

...

Read Article

Get Local & Go Seasonal

Travel | Food | Entertainment

California

STATE FAIR

July 12 thru 28 - The CA State Fair begins in Sacramento with exhibits, carnival rides, competitions, cooking challenges, performances and much more!

Big Boy No. 4014

World’s largest steam locomotive

July 12 thru 14 - Union Pacific’s famed Big Boy No. 4014, the world’s largest steam locomotive, will return to the rails in Roseville, CA.

Placer County

Outdoor Adventures

From the shores of North Lake Tahoe to the majestic Sierra Nevada that loom above the lake, Placer's High Sierra is unparalleled in beauty & adventure at all season.