Sacramento Housing Market Home Prices on the Rise

The numbers are in and Sacramento’s Housing Market continues to heat up!  In November the average Price per Square Foot hit a new high of $135.8, this was a 2.2% increase over last month and a 16% increase over the last year.  This increase can clearly be traced to the lower inventory numbers that continue to drive prices up.  The number of homes for sale decreased by-10% from last month and is down by over -52% from last year.  Another effect of this lower inventory is that houses are selling faster than we have seen in a long time, the average Days on Market for a home in the Sacramento Region dropped again to only 48 days!

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