October 2023 Newsletter

,

Happy Fall you all! A great time of year to be in the Northern California area - taking advantage of the great weather by venturing to places near the area like wine tasting in Amador County, a day trip with the family to Apple Hill, or going for a jog/bike ride. That is the beauty of living in the Sacramento Region! There is always something to do for any type of lifestyle and personality!

In this month's newsletter, I've gathered local real estate trends, with a focus on million-dollar and up market trends, along with a peek at national real estate trends. I'll also share highlights from my recent East Coast trip, offer Halloween local insights, showcase my "Eye Candy of the Month" property, and provide links to cities across the US and Canada. Stay tuned for a packed edition!

Warm regards,

Mercedeh Sheik

Latest with Mercedeh

Prominent Sotheby's International Realty branch in New Jersey recently organized a two-day networking & educational event, during which they had the honor of hosting Dr. Lawrence Yun, Ph.D., Chief Economist of the National Association of REALTORS, as a guest speaker. Dr. Yun delivered an exceptionally informative and captivating presentation, shedding light on the factors contributing to our current real estate market dynamics and offering valuable insights into potential developments leading into the year 2024. Here are my personal notes.

For FULL Details: Click here for the National Association of REALTORS' RE Market Outlook.

Key Points:

Analysis of the public sector reveals a notable increase in jobs (with W2 & does not include self-employed individuals), providing a positive indicator of economic growth. However, we await the government sector's analysis to confirm the consistency of these employment statistics.
The United States government's spending currently exceeds its income, leading to a downgrade from AAA to AA standing in credit ratings.
The commercial real estate sector is experiencing a decline, resulting in an abundance of available office spaces in major cities such as San Francisco and New York City.
The presence of higher interest rates is discouraging property sales and maintaining low inventory levels within the housing market.
Insufficient housing supply remains a prevailing issue. Notably, the new home construction sector is thriving amidst these market conditions.
While California's year-over-year housing market growth remains stagnant, states like Florida continue to witness rising home prices.
Anticipated interest rate trends suggest a potential peak of 8% by the end of 2023, with a possible decline to the 6% range in the Spring of 2024.
The Federal Reserve is intensifying its oversight of smaller community banks and has implemented safeguards to ensure economic stability.

Market Updates

Greater Sacramento Region

As anticipated, the September real estate market closely mirrored the previous month, echoing the recurring seasonal trends we typically encounter in the Greater Sacramento Region during this time of year.

Let's explore & dig into the specific market with some fascinating insights. When I focus on tri-county single-family homes priced at $1,000,000 and above below is what I gather:

Pending SFR: In August, we saw 137 pending transactions, a number that slightly eased to 123 in September.

New SFR Listings: August unveiled 443 new listings, and September continued the momentum with 435 fresh listings.

Sold SFR: August celebrated 145 home sales, with September closing 137 successful transactions.

Days On Market (DOM): Homes spent an average of 45 days on the market in August, which impressively dropped to 38 days in September.

Avg Price per SQFT: August recorded an average price per square foot of $398, while September witnessed an uptick to $443.

Inventory: August boasted 3.1 months of inventory, with a slight uptick to 3.2 months in September.

Placer, Sacramento, El Dorado Counties

Combines SFR @ ALL Price Points

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

Get Local & Go Seasonal

Travel | Food | Entertainment

Pumpkin Patch Farms

Picking a pumpkin is an adventure. Learn where the coolest patches are and why people flock to them year after year.

Halloween Centerpieces

Hosting a Halloween party? Take a look at the 18 various table settings and centerpieces for your spooky party.

Wicket Cocktails

Halloween Drinks & Cocktails - Impress your guests at your next Halloween party with scary, easy, and delicious drink ideas!

Home safety for trick or treaters

As a responsible homeowner, making your property safe for young trick-or-treaters is essential.

Everyone wants an accident-free Halloween in the neighborhood, so these few tips will ensure the local kids have a scary and super-fun night.

...

Read Article

Monthly Real Estate

"Eye Candy"

4306 Red Maple Court

Rocklin, CA, 95765

$1,450,000

Welcome to your new stunning home nestled in the heart of Whitney Ranch. This immaculate home offers the perfect blend of elegance and comfort, boasting luxurious features and exceptional attention to detail. From the moment you step inside, you'll be greeted by a warm and inviting atmosphere, showcasing a seamless fusion of modern design and timeless charm. The open-concept layout seamlessly integrates the living areas with a built-in surround sound system, ensuring audio excellence in every corner. Unleash your culinary creativity in a gourmet kitchen that features double ovens, perfect for preparing elaborate feasts and holiday gatherings. The backyard of this home is a tranquil haven that provides an escape from the hustle and bustle of everyday life. Step outside and be instantly transported to a world of peace and relaxation. With its prime location, superb amenities, and exquisite finishes, this property is truly a dream come true for those seeking a refined living experience. Indulge in the ultimate Rocklin lifestyle today! Award-winning Rocklin schools! Close to trails, upscale shopping, a short drive to Tahoe, Folsom Lake, or a quick getaway to Napa.