July 2021 - Sacramento Metro
Real Estate Market Update

Wondering if there’s a sign of slowing?  Me too. 

But it’s hard to tell. The Average Median went up again. Momentum is still way above zero and hasn’t been below zero for 9+ years.

Composite Average Median Price and Momentum
Composite Average Median Price and Momentum

And Cumulative Days on Market (CDOM) is refusing to go up. If a listing has a CDOM of 11 days, it can easily mean listings have 1 buyer, 1 escrow, and 1 closing. This is mostly caused by Fear of being the buyer who cancels and loses the house. My personal experience since 2020 has been this exact version: Buyers offer WAY over asking price, use a lot of cash, and commit to the purchase without a concession. This is great for sellers but may haunt buyers next year. And because ‘what goes up, must come down’, buyers must realize they MAY be buying at a multi-year high.

Composite Average CDOM
Composite Average CDOM

Mortgage rates may go up soon. The banks are the ones to lead the way. From a timing perspective, the banks want to NOT lose money when the overnight borrowing rate goes up so they will get ahead of it. Stay in touch with your lender and be ready to lock the rate if you are in escrow. Rate extensions can be expensive so be sure. (www.jayemerson.com/major)

There are 26 zip codes that set a new high median price:

Sacramento Metro High Median Prices
Sacramento Metro High Median Prices

While you may not have the ability or willingness to sell, we are definitely NOT at a bottom. We won’t know for a month or three if we’re at the top, either. Make your choice and call me if you want more details and my opinion.

Momentum Swing – this indicator shows the “heartbeat” of the market based on how many zip codes are moving up and down. Almost all of the momenta are still moving up and ALL are above zero (“BUY”). Momentum attempts to look forward and help time market entry and exit. This latest “swing” has no equal in the 20+ years tracked in my data. (www.jayemerson.com/momentum)

Momentum Swing Indicator
Momentum Swing Indicator

The inventory at the end of June is depicted in this chart. There is still a severe shortage of listings. Active listings are a paltry 25% of average. When listings are put on the market, they quickly go Pending (CDOM = 11). That means there is almost nothing left for buyers who take their time. (www.jayemerson.com/averages)

Composite Average Inventory
Composite Average Inventory

Long-term Turnover, like other statistics, has bounced off a ceiling, of sorts, but has gone bonkers, like the market itself.

Composite Average Turnover
Composite Average Turnover

These are the zip codes that have specific charts on this website:

Zip Code Summaries

  • Placerville 95667, 06/2021 – Median $555K (NEW HIGH), (Þ▼,MoM▲4.7%,YoY▲27.6%) – Supply is at 66% – Demand is at 126% – Appetite is at 75% – Turnover is at 80%

    Cameron Pk 95682, 06/2021 – Median $660K (NEW HIGH), (Þ▲,MoM▲6.5%,YoY▲29.4%) – Supply is at 53% – Demand is at 105% – Appetite is at 84% – Turnover is at 244%

    El Dorado Hills 95762, 06/2021 – Median $930K (NEW HIGH), (Þ▲,MoM▲3.0%,YoY▲33.8%) – Supply is at 49% – Demand is at 133% – Appetite is at 108% – Turnover is at 181%

    Auburn 95603, 06/2021 – Median $730K (NEW HIGH), (Þ▲,MoM▲3.5%,YoY▲45.1%) – Supply is at 65% – Demand is at 95% – Appetite is at 75% – Turnover is at 80%

    Rocklin 95677, 06/2021 – Median $700K (NEW HIGH), (Þ▲,MoM▲13.6%,YoY▲30.8%) – Supply is at 58% – Demand is at 98% – Appetite is at 93% – Turnover is at 174%

    Roseville 95747, 06/2021 – Median $681K (NEW HIGH), (Þ▲,MoM▲4.8%,YoY▲36.2%) – Supply is at 57% – Demand is at 91% – Appetite is at 90% – Turnover is at 216%

    Citrus Hts 95610, 06/2021 – Median $537K (NEW HIGH), (Þ▼,MoM▲13.3%,YoY▲32.3%) – Supply is at 61% – Demand is at 93% – Appetite is at 96% – Turnover is at 122%

    Citrus Hts 95621, 06/2021 – Median $440K (NEW HIGH), (Þ▲,MoM▲1.1%,YoY▲20.5%) – Supply is at 64% – Demand is at 127% – Appetite is at 113% – Turnover is at 286%

    Fair Oaks 95628, 06/2021 – Median $620K (NEW HIGH), (Þ▲,MoM▲2.3%,YoY▲27.8%) – Supply is at 57% – Demand is at 114% – Appetite is at 91% – Turnover is at 160%

    Folsom 95630, 06/2021 – Median $718K (NEW HIGH), (Þ▼,MoM▲0.7%,YoY▲14.9%) – Supply is at 61% – Demand is at 100% – Appetite is at 90% – Turnover is at 185%

    Orangevale 95662, 06/2021 – Median $560K (NEW HIGH), (Þ▲,MoM▲7.1%,YoY▲24.4%) – Supply is at 70% – Demand is at 99% – Appetite is at 91% – Turnover is at 138%

    Rancho Cord 95670, 06/2021 – Median $510K (NEW HIGH), (Þ▲,MoM▲10.9%,YoY▲30.8%) – Supply is at 67% – Demand is at 102% – Appetite is at 93% – Turnover is at 200%

    Rancho Cord 95742, 06/2021 – Median $610K (NEW HIGH), (Þ▲,MoM▲6.1%,YoY▲28.2%) – Supply is at 37% – Demand is at 108% – Appetite is at 115% – Turnover is at 620%

    Elk Grove 95758, 06/2021 – Median $550K (NEW HIGH), (Þ▲,MoM▲1.3%,YoY▲25.6%) – Supply is at 62% – Demand is at 89% – Appetite is at 93% – Turnover is at 159%

    Arden 95821, 06/2021 – Median $505K (NEW HIGH), (Þ▲,MoM▲1.4%,YoY▲17.4%) – Supply is at 65% – Demand is at 89% – Appetite is at 74% – Turnover is at 131%

    Greenhaven 95822, 06/2021 – Median $445K (NEW HIGH), (Þ▲,MoM▲9.1%,YoY▲17.1%) – Supply is at 67% – Demand is at 104% – Appetite is at 96% – Turnover is at 157%

    Franklin 95823, 06/2021 – Median $404K (NEW HIGH), (Þ▲,MoM▲1.5%,YoY▲23.5%) – Supply is at 58% – Demand is at 79% – Appetite is at 86% – Turnover is at 169%

    Arden 95825, 06/2021 – Median $470K (NEW HIGH), (Þ▲,MoM▲5.4%,YoY▲22.1%) – Supply is at 64% – Demand is at 117% – Appetite is at 89% – Turnover is at 186%

    Rosemont 95827, 06/2021 – Median $471K (NEW HIGH), (Þ▲,MoM▲7.0%,YoY▲22.3%) – Supply is at 61% – Demand is at 113% – Appetite is at 116% – Turnover is at 233%

    Florin 95828, 06/2021 – Median $443K (NEW HIGH), (Þ▲,MoM▲3.0%,YoY▲33.8%) – Supply is at 85% – Demand is at 120% – Appetite is at 84% – Turnover is at 138%

    Vineyard 95829, 06/2021 – Median $573K (NEW HIGH), (Þ▲,MoM▲6.3%,YoY▲38.4%) – Supply is at 69% – Demand is at 99% – Appetite is at 82% – Turnover is at 138%

    Natomas 95833, 06/2021 – Median $443K (NEW HIGH), (Þ▲,MoM▲4.2%,YoY▲24.8%) – Supply is at 45% – Demand is at 79% – Appetite is at 104% – Turnover is at 273%

    Natomas 95835, 06/2021 – Median $578K (NEW HIGH), (Þ▲,MoM▲8.4%,YoY▲28.4%) – Supply is at 55% – Demand is at 107% – Appetite is at 107% – Turnover is at 276%

    Del Paso Hts 95838, 06/2021 – Median $399K (NEW HIGH), (Þ▲,MoM▲17.4%,YoY▲23.9%) – Supply is at 59% – Demand is at 88% – Appetite is at 95% – Turnover is at 119%

    North Sac 95841, 06/2021 – Median $478K (NEW HIGH), (Þ▲,MoM▲9.6%,YoY▲30.2%) – Supply is at 52% – Demand is at 89% – Appetite is at 92% – Turnover is at 250%

    Foothill Frms 95842, 06/2021 – Median $413K (NEW HIGH), (Þ▲,MoM▲2.7%,YoY▲21.8%) – Supply is at 71% – Demand is at 90% – Appetite is at 103% – Turnover is at 218%

    Lincoln 95648, 06/2021 – Median $611K, (Þ▲,MoM▼-0.8% ,YoY▲29.4%) – Supply is at 60% – Demand is at 112% – Appetite is at 98% – Turnover is at 213%

    Roseville 95678, 06/2021 – Median $540K, (Þ▲,MoM▼-9.4% ,YoY▲24.1%) – Supply is at 75% – Demand is at 112% – Appetite is at 94% – Turnover is at 217%

    Granite Bay 95746, 06/2021 – Median $1,113K, (Þ▲,MoM▼-4.3% ,YoY▲28.7%) – Supply is at 44% – Demand is at 124% – Appetite is at 98% – Turnover is at 209%

    Rocklin 95765, 06/2021 – Median $700K, (Þ▼,MoM▼-4.9% ,YoY▲20.7%) – Supply is at 57% – Demand is at 137% – Appetite is at 105% – Turnover is at 426%

    Elk Grove 95624, 06/2021 – Median $635K (MATCHED HIGH), (Þ▲,MoM◄►0.0%,YoY▲38.0%) – Supply is at 54% – Demand is at 93% – Appetite is at 100% – Turnover is at 181%

    Land Park 95818, 06/2021 – Median $675K, (Þ▲,MoM▼-15.5% ,YoY▲10.7%) – Supply is at 98% – Demand is at 126% – Appetite is at 82% – Turnover is at 128%

    Elder Creek 95820, 06/2021 – Median $379K, (Þ▲,MoM▼-1.6% ,YoY▲20.3%) – Supply is at 70% – Demand is at 94% – Appetite is at 72% – Turnover is at 126%

    Fruitridge 95824, 06/2021 – Median $345K, (Þ▲,MoM▼-2.8% ,YoY▲32.2%) – Supply is at 51% – Demand is at 110% – Appetite is at 125% – Turnover is at 162%

    Pocket 95831, 06/2021 – Median $652K, (Þ▲,MoM▼-0.3% ,YoY▲22.3%) – Supply is at 67% – Demand is at 113% – Appetite is at 88% – Turnover is at 244%

    Natomas 95834, 06/2021 – Median $520K, (Þ◄►,MoM▼-2.8% ,YoY▲27.1%) – Supply is at 63% – Demand is at 124% – Appetite is at 116% – Turnover is at 238%

    Antelope 95843, 06/2021 – Median $470K, (Þ▲,MoM▼-6.0% ,YoY▲22.1%) – Supply is at 52% – Demand is at 89% – Appetite is at 115% – Turnover is at 172%

    Arden 95864, 06/2021 – Median $750K, (Þ▲,MoM▼-3.0% ,YoY▲31.6%) – Supply is at 68% – Demand is at 130% – Appetite is at 94% – Turnover is at 111%

    West Sac 95691, 06/2021 – Median $545K, (Þ▲,MoM▼-3.2% ,YoY▲21.7%) – Supply is at 74% – Demand is at 102% – Appetite is at 90% – Turnover is at 132%

    North Hilnds 95660, 06/2021 – Median $360K (MATCHED HIGH), (Þ▲,MoM▲2.3%,YoY▲26.3%) – Supply is at 71% – Demand is at 97% – Appetite is at 73% – Turnover is at 219%

    Arden 95815, 06/2021 – Median $345K, (Þ▲,MoM▲4.5%,YoY▲30.2%) – Supply is at 70% – Demand is at 98% – Appetite is at 94% – Turnover is at 100%

    Oak Park 95817, 06/2021 – Median $486K, (Þ▲,MoM▼-1.8% ,YoY▲21.5%) – Supply is at 110% – Demand is at 124% – Appetite is at 73% – Turnover is at 120%

    College Greens 95826, 06/2021 – Median $458K, (Þ▲,MoM▼-0.4% ,YoY▲20.5%) – Supply is at 69% – Demand is at 118% – Appetite is at 125% – Turnover is at 235%

    Carmichael 95608, 06/2021 – Median $549K, (Þ▲,MoM▲3.6%,YoY▲22.0%) – Supply is at 69% – Demand is at 133% – Appetite is at 86% – Turnover is at 128%

    Roseville 95661, 06/2021 – Median $715K, (Þ▲,MoM▼-1.9% ,YoY▲25.9%) – Supply is at 62% – Demand is at 87% – Appetite is at 85% – Turnover is at 170%

    Elk Grove 95757, 06/2021 – Median $605K, (Þ▲,MoM▼-4.7% ,YoY▲21.0%) – Supply is at 44% – Demand is at 88% – Appetite is at 89% – Turnover is at 274%

    East Sac 95819, 06/2021 – Median $718K, (Þ▲,MoM▼-7.4% ,YoY▲27.8%) – Supply is at 100% – Demand is at 125% – Appetite is at 86% – Turnover is at 117%

    Loomis 95650, 06/2021 – Median $750K, (Þ▲,MoM▼-20.9% ,YoY▲13.1%) – Supply is at 57% – Demand is at 105% – Appetite is at 83% – Turnover is at 85%

    Downtown 95816, 06/2021 – Median $687K, (Þ▲,MoM▼-9.4% ,YoY▲16.0%) – Supply is at 96% – Demand is at 127% – Appetite is at 64% – Turnover is at 92%

    Rio Linda 95673, 06/2021 – Median $425K, (Þ▲,MoM▲0.5%,YoY▲25.0%) – Supply is at 84% – Demand is at 108% – Appetite is at 87% – Turnover is at 100%

    West Sac 95605, 06/2021 – Median $463K, (Þ▲,MoM▲22.2%,YoY▲46.1%) – Supply is at 115% – Demand is at 149% – Appetite is at 100% – Turnover is at 111%

    Freeport 95832, 06/2021 – Median $343K, (Þ▲,MoM▼-6.5% ,YoY▲20.4%) – Supply is at 50% – Demand is at 49% – Appetite is at 86% – Turnover is at 57%

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