Today I wanted to stop by to talk about how the blend in the market is affecting inventory, values, and the perceptions of values. The overall inventory numbers really haven't changed much over the last several years, but the numbers within the numbers have changed. I wanted to explain what that does to values and the perception of values.
I wanted to show you how different neighborhoods, different price ranges, and different types of properties all matter. We hear that median prices have gone up 12.8% in the last 12 months. You read a lot of headlines about prices going up, but what does that mean? Well, it depends. If you bought a house in the last five years in a specific zip code or price range, there are probably some things that you want to know about.
It's best to understand these things early in the planning stage. In some neighborhoods, prices have held steady while some have actually risen quite a bit. For buyers, we do reports on price ranges and what price ranges are doing as far as competition and what you're going to be able to expect when you get out there in the market. For sellers, we do these kinds of reports based on square footage, as well as the size, age, and the type of the property.
It's a good way to get started so you know what to expect. We can build these reports for your neighborhood and price range. For buyers, we can also put together these reports to help you know what to expect in certain areas and for certain types of properties.
If you'd like a custom report or you have any questions about the Sacramento real estate market, give me a call or send me an email. I would be happy to help you!