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Saturday, December 10, 2016

Crazy Busy 4th Quarter!

Unlike other areas of the country, the Sacramento region doesn't have the typical 'slow down' in the real estate market during the 4th quarter like some colder climates have.  I've always had a very strong 4th quarter, but this year has been absolutely crazy!   However, it didn't start out that way.

Buyers and sellers were distracted with the election and nervous about rising interest rates.  As a result, we had a real lull in the luxury market during September and October, however demand remained steady for homes below $500K.  Showing activity was way down in the high end and it was eerily quiet, but then things changed after the election.  Buyers came out of the woodwork, gobbling up the last of the inventory.

If you think buyers aren't out there during this time of the year think again.  With interest rates still hovering around the 4% range, don't lose sight that it is still at historically low levels.  Buyers are hoping for deals during the winter, but with inventory at such low levels, prices are continuing to rise.  Sellers are figuring out that it is still a sellers market and will continue to be until, a flood of homes comes on the market in the spring, (a big maybe).

We don't know what will happen with inventory in 2017.  It hasn't materialized in the past few years, a big cause in the drastic price increases.  What smart home owners do know is that right now is a great time to sell.  Low interest rates, combined with a shortage of homes for sale and rising appreciation are prompting sellers to list now.

RECENT 4th Quarter SALES by 'Discover Joy in Real Estate':

3359 Saint Ives Court, Shingle Springs (Represented Buyer)
Sold for $790,000

3767 Fairway Drive, Cameron Park
Sold for $442,500

7060 Steeple Chase Drive, Shingle Springs
Sold For $844,000

8931 Renoir Court, Fair Oaks
Sold for $589,000

3199 and 3205 Oxford Road, Cameron Park (Vacant Land)
Sold for $65,000 Each

3180 Country Club Drive #4A, Cameron Park
Sold for $100,000

690 Crestview Drive, Diamond Springs (Represented Buyer)
Sold for $325,000

2307 Fallwater Lane, Carmichael
Sold For $338,900

3749 Montclair Road, Cameron Park (Represented Buyer)
Sold For $439,500

PENDING to CLOSE before the end of the year:

3859 Chariot Circle, Rescue
Asking Price $600,000

3149 Bentley Drive, Rescue (Representing Buyer)
Asking Price $328,000

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