Real estate in northern California has been strong through January, with both open escrows and new home sales high in the new year. According to the Sacramento Business Journal, experts say that the climb could be season, but this alone wouldn't explain the 44 percent jump in open escrows the market experienced from December to January.
According to several market trackers, buying slowed at the end of 2014, but January saw buyer interest increase once more and open escrow numbers increase while new market listings remained relatively the same. This has resulted in a tipping point for market inventory, accompanied by a surge in new home sales as well. The North State Building Industry Association reported that new home sales hit 256 last month, over 165 a year ago.
New home sales rose an impressive 15 percent overall in 2014, however, reaching 2,440 sold. Some industry members are cautiously optimistic that 2015 could see further growth.
"I think we're looking for sustained growth," North State BIA Executive Director Michael Strech told the news source regarding the end-of-2014 numbers. "We can't get there overnight."
Overall market growth is a positive sign for sellers throughout Northern California, but particularly in the Sacramento area where the market is truly shaping up for sustainable improvement. This could make now the perfect time to sell your home.
If you're thinking about putting your home on the Sacramento housing market, contact me, top real estate broker Jon Hesse. With more than $100 million in completed transactions and a decade working in the local market, I have the experience necessary to help you sell your home at the best possible price.