Report Says Homes Sell Quickly in Region

Sacramento Area Homes Hot on the Market

 home

Sacramento-area home sellers were getting quick results in May, according to a new report by online real estate brokerage Redfin.

The “Redfin Fastest Real Estate Markets Report,” which tracks 22 major metropolitan markets nationwide, said 49.5 percent of area homes had a sale pending within two weeks of hitting the market in May. That percentage – including single-family homes, condos and townhouses – ranked fifth nationwide.

San Jose led the nation at 57.7 percent. The six top-ranked metro areas in the survey are in California, including San Francisco, San Diego, Ventura and Los Angeles.

For comparison, only 9.3 percent of homes in the 22nd-ranked Philadelphia metro market had a sale pending within two weeks.

Redfin also noted that 27.5 percent of homes in the Sacramento area had a sale pending within just one week of going on the market.

Among all U.S. markets tracked by Redfin, the percentage of homes that went under contract within two weeks in May was 31.9 percent, down from 33.2 percent in April, which Redfin attributed to an increase in the number of homes available for sale in May.

Inventory in California has been comparatively low for months.

Source: sacbee.com

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