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November real estate trends

Comparing Five Novembers in Sacramento County

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Now that November has passed, let’s compare it to previous Novembers in Sacramento County. Here is a chart of all SFR sales in Sacramento County on MLS from November 2008 to 2012. What do you see?

November sales from 2008 to 2012 - Sacramento Home Appraiser Blog - 530 pixels

Some of my observations:

  1. An Increase: Property values have generally seen an increase from 2011. As a side note, don’t be surprised if the Assessor increases your property taxes for 2013 (the value will be based on January 1, 2013). They’ll post new information for 2013 taxes come July 2013.
  2. Not Millions: There are very few million dollar sales on MLS over these past five years. There were really only a handful, so I chose to exclude them to have a more focused graph. Email me if you want the image with all sales.
  3. Comparing to Previous Years: Today’s values are starting to be more in sync with values from the past few years. I’ve been seeing quite a few home owners selling properties (not at a loss) or refinancing homes they purchased in 2009 or 2010. This isn’t true in every neighborhood or situation of course, but many of these sales have a bit of equity or they are more on par with what they were purchased for originally.
  4. Slow Down? Despite a more traditional slowdown during colder months, buyers were still hungry for real estate in November. I know quite a few Realtors who were squeezing in some work during the holiday. While sometimes in the course of my research it has seemed the market has been slowing down in preparation for colder months, it just seems to keep going strong.
  5. Other: This is where you include your take in the comments below.

I’d love to hear your thoughts on the market right now. What do you expect to see in coming months? Will the market cool off as it usually does? Or will a lower inventory and lower rates keep the market feeling hot?

MovemberDid you do Movember? While we’re on the subject of November, did anyone do Movember? If so, great job. It’s a fun and excellent cause. On an added superficial note, I know mustaches seem to be coming back in style, but I just cannot do it. I feel too much like Magnum PI (maybe that’s not so bad though). Am I alone?

If you have any questions or Sacramento home appraisal or property tax appeal needs, let’s connect by phone 916-595-3735, email, Twitter, subscribe to posts by email (or RSS) or “like” my page on Facebook

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