Sacramento Homes Selling Fast — as Prices Climb

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SACRAMENTO–

Homes for sale – they seem to be popping up everywhere in Sacramento. But, you have to be quick or your chance at owning one will be gone.

“At this rate we would finish all of our inventory in about two weeks,” said Susan Pierce with Lyon Real Estate’s Natomas office.

Pierce isn’t surprised that Sacramento has topped a list of 30 American metro areas with the biggest drops in home inventory – down 48 percent from last year.

Her office has seen an eve bigger plunge.

“Year over year we’re down about 76 percent,” she said.

Pierce notes that situation means home values are on the rise in Sacramento. The average selling price for inventory in her office was $178,000 this time last year.

Prices are now about $30,000 higher.

With rising values, she believes more homes will be listed as owners see they can get out of the negative.

Here’s her advice to the house hungry: “Persevere. Keep writing offers. Eventually one will get accepted.”

Her clients are writing between 5 and 25 offers before a “yes” comes through.

 

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