There is a property with 94 offers in Sacramento, and that’s not a typo. Let’s talk about this situation and how many offers most homes are getting. The housing market is actually getting tighter right now, and I want to share some stats to show what I mean.
UPCOMING SPEAKING GIGS:
3/12/26 Made 4 More
3/19/26 Yolo YPN event
3/25/26 Coldwell Banker EDH
4/9/26 Realtist Association of Sacramento
4/14/26 Culbertson & Gray
4/22/26 EDCAR
4/28/26 PCAR Rocklin
5/7/26 Empire State of Mind
5/15/26 Nevada County TBA
6/3/26 Wisdom Wednesday in Elk Grove
8/6/26 PCAR Auburn
10/2/26 PCAR Rocklin
FEELING THOSE SPRING VIBES
What it looks like in real estate when there is any hint of positive news. Haha.
GETTING 94 OFFERS IS TRULY WILD
A property was listed at $199,000, and it attracted 94 offers per MLS data (yes, our MLS has the number of offers). The agent who listed the property has been around a long time, and she’s great. All I’m saying is this home was strategically underpriced, and buyers showed up for it. The red dot shows the list price while the blue dots are similar-sized neighborhood homes. Can you see why it garnered so much interest?
HOW MANY OFFERS ARE HOMES GETTING?
We’re in a market where getting one or two offers is the vibe. Or zero if you’re overpriced. Per MLS, 77% of current pendings in the Sacramento region have one or two offers, and only 7.5% of the market is getting five or more. So, 94 is nothing short of extreme. I remember in 2021 when a property in Citrus Heights had 121 offers, and that story went viral. So far, today’s situation hasn’t made the news as far as I can tell, but maybe it’ll show up soon since it’s a conversation piece.
Pro tip. Don’t expect to get 94 offers. Haha.
THERE IS SOMETHING ABOUT FIXERS THOUGH
This 94-offer example is indicative of a price strategy rather than the market being so hot. Yet, there is no mistaking there is a massive appetite for low-priced fixers (the subject was a fixer). In fact, 86% of properties with ten or more offers in the region right now are priced under $500,000 (likely underpriced under $500K).
MORE COMPETITION AT LOWER PRICES
The market isn’t the same at every price range. Do you see how there are more offers at lower prices and not as many at the highest? This is a normal dynamic, but it’s fascinating to see visually. I think this underscores how freakish it is to see 20 or more offers also.
BAR CHARTS IN CASE YOU HATE TABLES
Here are a couple bar charts in case the table above isn’t cutting the mustard. Are you team table or team bar chart? I go back and forth and have a hard time choosing. I love all my children equally. I think the first bar chart is easier to digest though.
THE HOUSING MARKET HAS BEEN GETTING TIGHTER
Look, the housing market is not ultra hot like 2021, but it is more competitive than one year ago technically. Locally, we’re seeing demand grow slightly more than supply, and I think it feels hotter next to the dull summer market last year too. Market competition levels are now very similar to the pre-2020 norm after having been softer for so much of last year.
I suspect some might read my post and expect heavy competition, but that’s not what I’m saying. There is definitely solid competition for well-priced homes, but there are many homes lingering. Buyers are very picky today about price, condition, and location, and I think some sellers are still underestimating that.
SERIOUSLY THOUGH, CHECK OUT THESE GRAPHS
The red line represents the pre-2020 norm, and last year a gap really started to grow as the market softened. Well, the gap is now closing since supply and demand have come closer together this year (black line). Does this mean the market is totally normal? Nope. All I’m saying is competition has changed, and February stats now have tightened to a very normal level. It’s important to note competition levels are on par with the norm too. Nothing freakish. Let’s continue to watch this emerging trend and stay grounded.
UNCERTAINTY MATTERS (IRAN)
Someone asked me to describe the housing market, and I mentioned some of the spring vibes we’re seeing, but I also said a week ago we didn’t even know about conflict with Iran. This reminds us unexpected things can happen, and sometimes there is an effect on buyers and sellers (or the direction of rates). Granted, I don’t think we can say military action has affected the housing market yet, so let’s avoid clickbait, but this is something to continue to watch – especially if it ends up being prolonged.
This is how I view the housing market. It’s not just about what happens with rates. Consumers care about the job market, economy, and uncertainty is a really big deal.
Anyway, I hope that was helpful. Thanks for being here.
Questions: Can you imagine getting 94 offers? What are you seeing in the market right now? Anything to add?
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Great, pertinent data, Ryan!
My question – can we measure the number of homes that get listed and don’t get even one offer before the listing is dropped?
I’m a big fan of seeing the big picture for our housing market…
And of course we have the number of fallouts too..
Thanks, as always, for doing what you do Ryan!
Thanks, Jeff. You know, it’s challenging to easily measure when price reductions and offers happen. There isn’t a mechanism in MLS to measure the number of price reductions other than to note whether the original list price and current list price is lower. Well, this can maybe technically be done within a two-week period with hotsheets, but that doesn’t really help us if the everything else can’t be measured.
All that said, we also don’t know when offers come in exactly unless agents list that in MLS. Fallouts aren’t easy to pull either since there isn’t a field in MLS to gauge that. There is a way to do this with exporting data and comparing in Excel maybe, but that’s definitely more tedious and not something we do with the click of a button.
Some general stats right now for the Sacramento region. Maybe not exactly what you are looking for, but hey, something is better than nothing.
CURRENT ACTIVE LISTINGS AS OF 3-5-2026:
– 62% of actives have not changed the original list price
– 38% have changed the price (32.9% lower and 5.1% higher)
– Average days on market is 75 and median is 37
– Average price reduction is $45,056 or 4.8%
* based on Sac, Placer, Yolo, El Dorado (SFR detached (no condos))
Ryan,
Yet another great article; thank you for your tremendous insight.
I wonder if you’re watching investment properties equally as closely. I have several and wonder where that market is compared to the standards of a traditional search. I’ve spoken with several other investors who are looking at exchange opportunities, have money ready to spend, and we all wonder how to list our rental properties for sale. With tenants? Without tenants? Which might bring stronger offers? I myself have considered paying more for a property, simply because I have to spend a specific amount to satisfy the IRS and my exchange requirements.
Thoughts?
Hi Chad. Thank you so much for the kind words. A few scattered thoughts:
There aren’t any real stats on this. One of the downfalls of many investment properties that are sold on MLS is the rents are so often way below market value. I find investors hardly sell properties that are performing at top dollar. I think they are enjoying the equity they have as well as the monthly cash flow. I think it comes down to who the target buyer is also. If it’s in a neighborhood where first time buyers are rampant, then it makes sense to sell the property vacant for sure. I think it’s almost always easier to sell a property vacant, but if this was a 2-4 unit, occupied is the way to go. Ultimately, if the likely buyer is another investor, sell It occupied. If I owned an investment property that I was going to sell, I would probably try to first fish for a private transaction for someone who needs to do a 1031 exchange. If I was going to MLS, I might consider it being vacant if the realistic buyer profile was an owner occupant. My overall sense is there aren’t as many investors in today’s market. They are still here for sure, but it’s not a season where investors are absolutely feasting on everything.
Love the graph showing why the home got so many offers. I know an agent who brags about his homes always getting multiple offers. If that’s your goal, just lower the price. Easy.
Thanks, Gary. Yeah, there is a real formula. I’ve noticed under $500K that about 10%+ lower than value really brings in the offers. And when it’s even lower, things can get really crazy. I can’t wait to see where this one closes. It’s interesting because I’ve talked to 5 agents who offered on this one. So, I at least know what it didn’t sell for. 🙂 I have to think there is always a concern when it’s an auction-type price. What if it doesn’t meet the minimum? I suppose the market finds value in many cases. Maybe not always. I have to think this property did well though with so many offers.