I want to share a portion of this article by Ryan Lundquist because there’s some good info in here for both buyers and sellers. Ryan’s a Sacramento area appraiser and has his finger on the pulse of the local area real estate market. Although we’re not back to normal listing levels yet, there are definitely more homes on the market now than in the past few years, which is good news. Buyers have more power and more choice, but they have also become more choosy about the home they want. And sellers are beginning to realize that if they want to sell their home they need to price it competitively and not expect to get multiple over-asking-price offers that were the norm in 2021. You can read the full article here: Gone Are The Days Of Getting A Gazillion Offers

Gone Are The Days Of Getting A Gazillion Offers

May 8, 2025 By Ryan Lundquist

BE HAPPY WITH ONE ‘CUZ YOU MIGHT NOT GET MORE

Over the past week of pendings, 56.6% of homes had only one offer in the Sacramento region per MLS data, and 79.9% had one or two. In short, the vast bulk of properties (that get into contract) are going to have just one or two offers at most. In short, if you are priced right, the hope today is to get one to two offers. Not 5 or 10.

GETTING ZERO OFFERS

There are about 4,000 active listings right now with zero offers in the Sacramento region, which is important to talk about. We don’t want to get so fixated on what’s happening with pendings that we forget to think about these properties. Look, there are still situations with a ton of offers. I get it. There was one this week with 21 offers. All I’m saying is that’s unicorn territory that doesn’t represent the rest of the market. By the way, the property with 21 offers was a cosmetic fixer in Sacramento priced below $290,000.

FRUSTRATION FOR BUYERS IS REAL

Buyers have more power today, and there is a greater chance of being able to get concessions from the seller too, but there is still decent competition out there for the good stuff. I was at an open house last Friday night in my neighborhood, and while I was talking to the agent for about thirty minutes, there were five other people who came through the house. This property just listed last week, and it’s now pending with two offers. All I’m saying is buyers are very patient and picky today (rightly so), but they’re ready to act quickly when the right house hits the market.