Weekly Newsletter Weichert, Realtors - Sierra Pacific Group

May 16th, 2024

Welcome to this week’s edition of the Weichert Weekly Newsletter! This week, we spotlight Auburn and dive into the rising home prices across America's top cities and what this means for you. You'll also find an in-depth market update for Auburn, showcasing homes currently on the market, from budget-friendly options to luxurious estates. Thank you for being a part of our community—let's dive in!

Home Prices Are Climbing in These Top Cities 

Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what’s going on with home prices these days. Here’s the scoop.

The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they’re going up (see graphs below):

As you can see, home prices were rising for most of 2023. But over the course of December and January, they were virtually flat – which is pretty normal for that time of year. But here’s what you need to know now. As of February, when the spring market kicked off, prices were on the rise again.

Home Prices Are Going Up in Most of America’s Top Cities

After seeing a jump in home prices nationally in February, you might be wondering if they’re going up in your area, too. While it depends on where you live, prices are rising in 18 of the top 20 cities Case-Shiller reports on in the monthly price index (see chart below):

Most experts also think home prices will keep rising and end the year on a high note. Forbes explains why:

“Even as mortgage rates have reached their highest level since November, persistent demand coupled with limited housing supply are key drivers pushing home values upward.”

How This Impacts You

For Buyers: If you’re ready, willing, and able to buy a home, purchasing before prices go up even more might be a smart choice, since home values are expected to keep climbing.

For Sellers: Prices are going up because there still aren’t enough homes available for sale right now compared to today’s buyer demand. So, if you work with an agent to price your house right, you might receive multiple offers and sell quickly. 

Bottom Line

The data shows home prices are increasing nationally. Chat with me today if you want to take advantage of this housing market. 

Buying & Selling Guide

This comprehensive guide is crafted to illuminate every step of your real estate journey, whether you're buying, selling, or just exploring the potential of your next dream home. But, if you're like us and appreciate the feel of a page under your fingers, we get it. There's just something about a physical copy. Interested? Contact me today and I can deliver one to you. 

Click Here to Read the Guide Now

Auburn Homes For Sale 

Auburn Market Update

Here's the latest snapshot of the Citrus Heights Housing Market | *Only Single Family Homes Reported*

First up, we have the Months Supply of Inventory, which currently stands at 1.8. This metric represents the number of months it would take to sell all current inventory at the current sales pace. A lower value indicates a seller's market, while a higher value suggests a buyer's market.

Average Days Homes are On the Market is 40 days, which is a pretty standard time frame. This metric reflects how quickly homes are being sold, with a lower number indicating a strong demand for properties in the market.

Lastly, the Average Sold Price is $720,926 This figure gives us an idea of the overall price trend in the market and can be helpful for both buyers and sellers in determining their strategies. If you want an update for a different area or need help understanding what these stats mean, contact me today. 

Find Your Home's Hidden Value

The common question, "What's my home worth?" often conceals the real curiosity: "How much equity do I have?" That's why I'm excited to introduce our service, the Professional Equity Assessment Report (PEAR).  I understand you might just want a quick online estimate. No worries! You can also check out our  Home Value Tool online.

Recently Sold Office Listings 

9104 Quail Terrace Way, Elk Grove, CA 95624 | Sold by Scott Kirk, Owner/Broker, DRE # 01879787

Listed at $650,000 - Sold at $690,000 | $40,000 over asking! 

9092 Wentworth Springs Road, Georgetown, CA 95634 | Sold by Rachael Taylor, Realtor®, DRE #02124356 and Scott Kirk, Owner/Broker, DRE # 01879787

Sold at $1,500,000

7007 4th Parkway, Sacramento, CA 95823 | Sold by Carlee Dalmau, Realtor®, DRE #02016844

Listed at $445,000 - Sold at $460,000 | $15,000 over asking! 

9480 Lockford Court, Elk Grove, CA 95624 | Sold by Jessica Gill, Realtor®, DRE #02097207

Listed at $685,000 - Sold at $710,000 | $25,000 over asking! 

Active Office Listings:

7576 Walnut Drive, CA 95610 -  $500,000

Listed by Scott Kirk, Owner/Broker, DRE # 01879787

For more info: https://7576walnutdrive.relahq.com 

3051 Cannon Ct, Diamond Springs, CA  95629 -  $750,000 

Listed by Matthew Phelan, SRES, DRE # 020160202

For more info: https://3051cannoncourt.relahq.com

6781 Eaton Road, Georgetown, CA 95634 - $435,000 

(Commercial Land - 8.27 Acre Lot)

Listed by Rachael Taylor, Realtor®, DRE #02124356 and Scott Kirk, Owner/Broker, DRE # 01879787 

For more info please go to: https://67436781eatonroad.relahq.com/

6743 Eaton Road, Georgetown, CA 95634 - $875,000 

(Commercial Industrial / Residential - 9.19 Acre Lot)

Listed by Rachael Taylor, Realtor®, DRE #02124356 and Scott Kirk, Owner/Broker, DRE # 01879787 

For more info please go to: https://67436781eatonroad.relahq.com/

We are hiring! Do you know anyone looking to become a Realtor®? 

Weichert, Realtors® - Sierra Pacific Group is committed to helping people at every turn. Whether they're customers, searching for a home, or professionals, looking for a place to expand their real estate career, we are proud of our tradition of supporting others as they realize their dreams.

At Weichert, Realtors® - Sierra Pacific Group, our commitment to our agents is to inspire, challenge and support the as they strive for their personal best. 

If you are just getting started or are a season pro, we are confident that we have the tools and resources you need to grow your dreams!

We would love to get in touch with you about the unlimited potential and possibilities. We have partnered with Allied Real Estate School to offer preferred courses and packages, check them out here: Allied Real Estate School

That's all for this edition of the Weichert Weekly Newsletter! If you're in the market for a new home or just curious about the current real estate market, please don't hesitate to reach out to me. I'd be more than happy to assist in any way I can.