It’s a Seller’s Market -That’s The Bottom Line – See Below
I just ran the data and thought I’d share some of it with you. If you have been looking for a Duplex for sale in the Sacramento area you know it’s been a little bit difficult.
Here’s an important Market Definition: Buyer’s market: more than 6 months of inventory based on closed sales. Seller’s market: less than 3 months of inventory based on closed sales. Neutral market: 3 – 6 months of inventory based on closed sales
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Months of Inventory based on Closed Sales in June 2020: 1.4
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- Down 58.1% compared to last month
- Down 17.9% compared to last year
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Duplexes For Sale in June 2020: 50 units.
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- Down 19.4% compared to last month
- Down 25.4% compared to last year
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Duplexes Closed in June 2020: 35 units.
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- Up 94.4% compared to last month
- Down 12.5% compared to last year
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Duplexes Placed under Contract in June 2020: 44 units.
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- Up 69.2% compared to last month
- Down 2.2% compared to last year
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Finally… the graph below shows that List Prices are going down and Sales Prices are going up.
If you are a Duplex owner in the Sacramento Region and are thinking you might like to sell, I hope you come away with the idea it’s a Seller’s market. To get an idea of what you might be able to sell for, send an email my way at:
Ed@EdFavinger.com or call/text me at 916.203.1260.
In the Mean Time…?
Make it a Great Day..!
Ed Favinger, Broker, CRS, GRI, SFR
