I’m excited to announce a brand new local housing market column for our affiliated agents and for consumers in the Sacramento-Tahoe region called Market Watch! This new report will be coming out every other Friday beginning with today’s inaugural issue.

Market Watch is a bi-weekly roundup of reports from our local office managers that gives current, real time information on how each of their local markets are doing. The report includes information from the previous two weeks – things like sales and inventory trends – as well as brief commentary from the managers on trends they’re seeing in their own markets.

The idea behind Market Watch is that it not only will be useful for agents, but perhaps even more importantly it provides some valuable market trends and stats that can help enlighten homebuyers and sellers in your area. The column is designed for our sales associates to use as one more way to reach out to your sphere and stay in touch with potential clients.

With each future issue, we’ll lead off Market Watch with a brief commentary or news update on the current housing market, real estate issues of the day, and market trends. We’ll follow that with a summary of office reports organized by submarkets in the Sacramento-Tahoe region.

We’ve been publishing Market Watch in the San Francisco Bay Area for a number of years now, and I’m pleased to say that it has been a very popular feature with our agents as well as with

I’m excited to announce a brand new local housing market column for our affiliated agents and for consumers in the Sacramento-Tahoe region called Market Watch! This new report will be coming out each Friday beginning with today’s inaugural issue.

Market Watch is a bi-weekly roundup of reports from our local office managers that gives current, real time information about how each of their local markets are doing. The report includes information from the previous two weeks – things like sales and inventory trends – as well as brief commentary from the managers on trends they’re seeing in their own markets.

The idea behind Market Watch is that it not only will be useful for agents, but perhaps even more importantly it provides some valuable market trends and stats that can help enlighten homebuyers and sellers in your area. The column is designed for our sales associates to use as one more way to reach out to your sphere and stay in touch with potential clients.

With each future issue, we’ll lead off Market Watch with a brief commentary or news update on the current housing market, real estate issues of the day, and market trends. We’ll follow that with a summary of office reports organized by submarkets in the Sacramento-Tahoe region.

We’ve been publishing Market Watch in the San Francisco Bay Area for a number of years now, and I’m pleased to say that it has been a very popular feature with our agents as well as with homebuyers and sellers.

I’m hoping that our affiliated sales associates in the Sacramento-Tahoe region will enjoy Market Watch just as much!

Below is a market-by-market report from our local offices:

El Dorado County – The Previews luxury market is a bit slower, according to our El Dorado Hills manager, and agents are seeing price reductions in most price ranges. Overall, inventory and sales activity has been steady with multiple offers decreasing.

Placer County – Our Auburn manager reported sales and listings were up about 50% over the first 2 weeks in July.  There continues to be multiple offers and agents are starting to see more contingent offers.  Many of the buyers are still coming in from the Bay area, however there is an increase in the number of locals moving within the area as some now have equity in their homes.  There’s more movement in land sales as well as businesses and investment properties.  Three care homes in Auburn just went on the market.  The strangest cancellation this month was due to non-disclosure.  Buyers had signed documents and then went to complete the verification of condition.  The seller started talking to the buyer and let them know the garbage cans should never be kept in the garage as the bears will destroy property to get to the garbage cans.  Among other items that the seller shared with the buyer this was the last straw and the buyers walked.  Open houses have been good with anywhere from 6-20 groups attending. The Roseville/Granite Bay area experienced a slowdown in open orders compared to last month and last year.  Our local manager isn’t sure if it is trending in that direction as it is too early to tell and June was a better than average month.  Properties priced up to $500,000 are selling with multiple offers and 90% of them are selling within 60 days. Traffic at open houses is brisk.   Buyers are being pickier, he says, and more buyers are backing out of deals.

Sacramento County – Homes priced under $350k are still seeing multiple offers, reports our Elk Grove manager.  Homes priced above $450k are taking longer to sell. Open house activity is still strong and agents are seeing many new home buyers and sellers coming through them.   On a recent $550,000 listing there were 32 groups through the open house and it had five offers in only a couple of days. Our Folsom manager says inventory is decreasing slightly while sales activity is increasing. There were 10 multiple offers and 29 ratified offers in recent weeks. Our Sacramento Fair Oaks manager says multiple offers still exist for properties under $350,000. It’s generally a fast paced marketplace in the northeast Sacramento communities of Carmichael, Fair Oaks, Orangevale, Citrus Heights, Folsom and Gold River. Homes listed for over $750,000 are sitting on the market; there is growing price resistance. Our Sacramento Metro manager notes East Sacramento, Land Park, Midtown and Curtis Park continue to see prices go up and multiple offers on good properties. Meanwhile, our Sacramento Sierra Oaks manager reports longer days on market for properties and less stability when they are in escrow.

Tahoe & Truckee – The current state of the Previews luxury market sees sales over $1.0 million up 86% from last year at this same time, according to our Tahoe-Truckee regional manager. Overall, listing inventory is decreasing, down 9%, while sales activity is on the rise, up 15%. The last two weeks of July saw 72 properties sold in the market, which is the single highest two-week period of sales this year.  Of the 72 properties sold this period, 16 were sold at a price above $1.0 million. The 2016 real estate market in North Lake Tahoe and Truckee in terms of sales is off to a great start and is way ahead of 2015.  For Sellers there is demand for properties in the market with inventory down.  For Buyers, even though inventory is down from last year, there are quality properties to choose from throughout the north Lake Tahoe and Truckee areas.  With current home prices and favorable mortgage interest rates, real estate investors are taking advantage of this market and acquiring homes in many of the Lake Tahoe and Truckee resort communities.

Market Watch is a bi-weekly column by Coldwell Banker San Francisco Bay Area and Sacramento-Tahoe president Mike James exploring the local Northern California housing markets. Click here to view past issues.