The numbers are in for home sales for the first 6 months of the year and they show us that Auburn and it’s closest surrounding rural towns have had quite a stable or “neutral” year so far! When looking at the “Trendgraphix” data* we see the Auburn area (consisting of Auburn,Christian Valley, Meadow Vista, Weimar, Penryn and Newcastle) has seen a steady increase in homes coming onto the market as well as a nice increase in sold homes as well.
We have also seen a stabilization across the board in average price per square foot with the market staying “neutral” overall since the beginning of the year.
However there is a big difference between the markets depending on what price range you are in. For instance, there is only 1.8 months worth of inventory for homes between $200,000-$350,000. That means it would take 1. 8 months to sell all the homes that are currently on the market which makes it a “seller’s market”. 1.8 months is not a lot of time! But the inventory of homes between $550,000-$800,000 is 7.2 months which makes it a “buyer’s market”. And for homes $800,000+ the inventory increases to 9.3 months which is without a doubt a “buyer’s market”.
If you would like specific statistics based on your home’s value and location I would be happy to provide you a customized report. Just click the following link and I will email it to you directly: http://goo.gl/SsOQOB
*(TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers)