Sacramento, located in the great Central Valley in the middle, between San Francisco and Lake Tahoe, is fast growing and a great place to live. Sacramento is five hours drive from San Francisco and Lake Tahoe and benefits largely from the propinquity to the Bay Area. In spite of being so closely located, the Sacramento real estate market is much more affordable than the San Francisco Bay Area market, and is much less congested.
If you are thinking of buying real estate in Sacramento, now is the time. Prices are still affordable, and have even come down a bit. As the inventory of Sacramento homes for sale increases, the average days on the market increases as well, giving the Sacramento home buyer more homes to select from when shopping.
The entry level and lower priced homes are selling more frequently, leading to a decrease in the median home price in Sacramento County. As of March 2006, the Sacramento County median home price was $359,000, up 8.1% from a year earlier. In general, sellers of higher priced homes that have been sitting on the market for long; those that have been priced above $450,000, have been made to lower their prices.
The Sacramento real estate market is bustling now with the rise in the number of homes on the market. The Sacramento county MLS active listings are at an all-time high. All this is lovely news for the buyers as it gives them more real estate to select from.
Currently, the real estate market is neutral but is fast heading towards becoming a buyer’s market. So, if you are looking forward to buying a Sacramento home, then it’s a lovely idea to take advantage of these market conditions today. Sacramento homebuyers now have the advantage of more negotiating power as sellers vie to catch the attention of discerning buyers.
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