Is it still a buyer’s market today in Sacramento? As experts in the California real estate market, we get asked this question a lot. Unfortunately, the answer isn’t as simple as yes or no. Let’s take a look at the factors that influence the state of the market for buyers in Sacramento CA.
The State of the Market for Buyers in Sacramento CA
How kind the market will be to your home really depends on your location and property type. Single-family homes in great locations with competitive prices will fly off the shelves. But the same homes in other areas can sit for a long time without much interest. What are the big influences here?
- Buyers are often looking for the same thing: Homebuyers want a good neighborhood (you can find good neighborhoods at Best Places), easy access to shopping and work, proximity to a good school, etc. Properties that deliver all these are going to sell fast – so in this case, sellers of desirable homes control the market.
- What about condos and townhouses? If it’s nestled away from sight, dated, weathered, or just has some funky features, sellers can’t expect much demand. Pricing more competitively might be necessary to attract buyers, but though prices have been down in certain areas of Stockton, they seem to be rebounding as the rental market increases.
- Investment properties are in demand: The massive amounts of foreign cash flooding in to invest in US real estate have impacted the Lodi market in unique ways. Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.
There are a few trends we can spot. For one, many sellers are testing speculative prices to see if any buyers bite, but most just walk away from deals that don’t pan out. Financing is still tough for many buyers. Banks can get pretty strict, asking for large amounts of money or changing up terms to work in their favor. Some approved buyers even have their loans pulled right before they closed the deal. This issue has gotten much better over the years, but it still persists.
What’s the Gist of the State of the Market in Sacramento CA?
Overall, the state of the market in Sacramento is polarized: there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle. Sound confusing? The housing market tends to be pretty complicated. We can help if you’re ready to sell your house fast in Sacramento. If you need to sell a property near Sacramento, we can help you.
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