College-Glen Quarterly Real Estate Update - Q1 2016
Now that the First Quarter of 2016 is finished, here’s a look back at Q1 and comparing it to last quarter and a year ago. This is only for College-Glen (College Greens & Glenbrook) single family homes.
The First quarter for College-Glen real estate statistically looks like it was a rough 3 months but the market finished the quarter red hot and will be reflected in next Quarter stats.
College-Glen and the Sacramento market as a whole has returned to a “traditional market” that follows a pretty regular cycle. Sales are slow to start the year, pick up in the spring, hit their peak in the summer, taper off a bit in the fall and then really slow down during the holidays and winter.
The market started the year slowly as buyers came out of their holiday season hangover. As February and March rolled around the inventory was extremely low and the buyer activity was fierce. By the end of the 1st Quarter in the neighborhood, we were seeing multiple offers on nearly all listings and selling above list price. It will be interesting to see how long that trend will last but for now it appears to be more of that for the second quarter of 2016 for College-Glen.