Sacramento Duplexes in Good Condition are Selling – If Priced Right..!
That’s always the story isn’t it really in just about any market ? Well maintained properties priced accordingly to the market conditions will always sell, many time with multiple offers.
Since the last update regarding sales data, I did some follow up research to show you what sales have been like since the last post I submitted over a month ago. Remember this is the sales data for the following zip codes: 95608, 95610, 95621, 95628, 95630, 95825, 95826, 95841, 95827.
The Sales Data from the May 12 post entry disclosed a List Price to Sales Price Ratio of 99.5%. The information below that I’ll share shows the market still pretty warm and some properties with more than a couple of competing offers.
My Duplex sales Summary effective June 15, 2020 shows there’s a little bit of a price dip on some of the Duplexes for sale because as you’ll see the List Price to Sales Price Ratio is now at 97.7%. This information is from closings occurring after May 7th up to June 15th.
You will notice however the Gross Rate Multi-plyer (GRM) has an average now of 12.81 for Sold/Closed Duplexes which is down from the 14 GRM for Active, Pending & Sold/Closed Transactions in the Summary from a month ago.
With fewer properties on the market we’ll see what happens in the next few weeks but I think you’re going to see an uptick in sales because we’ve got more pending now with the Average Days On Market down or the same for Pending and Closed Sales.
The Duplexes that are priced over the market or in poor condition you’ll see have a much higher Days On Market Average.
Rental Market is pretty good now too. Units in good condition are renting up quickly at top dollar in spite of the Covid-19 situation here.
Bottom Line…?
If you are looking to purchase a Sacramento Duplex, give me a call at 916.203.1260. Texts work too or you can send an email to me at Ed@EdFavinger.com. We not only can help you in your purchase, but we also provide “2nd to none” Property Management as well.
If you are thinking of Selling a Duplex, I want to talk with you. I can show you how to get the most out of your investment.
In the Mean Time…?
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR
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