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Year End 2023
The Sacramento Real Estate Market ended the year with 1798 closed sales in December. This is a decrease from the previous month of 8.6%; and 20% from a year ago. The market # of sold properties is currently trending downward; however, pending sales presently show that this trend may end as we enter into the new year. The number of homes entering the market increased in the late summer, but is presently trending downward as well.
What is important to buyer's and seller's? Price and payment. The market average sold price increased in 2023 by 8%. However, the market average price in this area is presently trending downward as we go into 2024. Interest rates declined a quarter point the Friday before the year ended. Many believe that the rates will trend downward as we approach the 2024 election time. This may help in stabilizing any downward price trends.