College-Glen Quarterly Real Estate Update - Q3 2018
Now that the third Quarter of 2018 is finished, here’s a look back at Q3 and comparing it to last quarter and a year ago. This is only for College-Glen (College Greens & Glenbrook) single family homes.
The third quarter was a market of transition for College-Glen (& all of Sacramento) as inventory began to rise a bit and buyer demand tapered off. That created a much more balanced market in the neighborhood compared to the past few years of a major sellers market and buyers fighting like crazy with each other to get an offer accepted. Q3 had a solid number of homes sell but there were more price reductions and listings sitting longer than in the past. That also lead to more negotiating power for buyers before and during escrow. By no means has the market completely shifted to favor buyers but there has reached a more balanced point. Multiple offers are not as common right now as well. So this means sellers are needing to price the home correctly from the start, have it showing well and select an agent that creates a top notch marketing plan. In this market, you will still have success with that formula. Without it, your house will be sitting.