February 2016 was a seller’s market, showing a 4% decrease in the number of homes listed on the market, compared to January. Despite a decrease in inventory, the number of homes put under contract was up 31%, and the number of homes closed increased by nearly 8.5%. February also showed a slight increase in the average Price Per Square Foot, assisting in a very minimal increase in the Sold/Original List Price ratio. February brought appreciating List Price and Sold Price averages, despite homes spending an average 2.2% less continuous days on the market.
Overall, February showed only positive signs for Sacramento’s 2016 Real Estate Forecast.
*Information gathered from TrendVision via MLS