Pierce Plam Real Estate Team Blog

Nov. 10, 2023

November Market Report

Here's a market report to help you follow the housing market around Sacramento. The graphs reflect data from $500k to $1.25M single family homes in four counties: Yolo, El Dorado, Sacramento, and Placer. 

The first graph displays three key metrics in real estate over a timeline: the number of homes listed for sale, the number of homes sold, and the number of homes that have sales pending. We can see an overall trend of increasing inventory, a slight decrease in sales, and a relatively steady line of pending sales, suggesting a consistent rate of homes moving towards sale completion.

The second graph presents the average Cumulative Days on Market (CDOM) for homes, alongside the Selling Price vs. Original Listing Price (SP/Orig LP %) over time. The blue bars indicate that homes are starting to sell slightly slower as time progresses. The red line indicates that homes are selling slightly below their original listing prices. 

The two graphs combined give us a clear picture of recent real estate market trends. More homes are coming onto the market, as indicated by the increase in 'For Sale' inventory. Sales have seen ups and downs, but the number of homes pending sale has recently remained fairly constant, suggesting that we have a consistent number of buyers finding homes. On average, homes are selling a little slower than before. And the selling prices have been close to the listing prices, which indicates a stable and competitive market where pricing strategies are key.

The takeaway? If you're selling, it's crucial to adapt to the market's new dynamics to achieve your goals. Multiple offers over asking are no longer the standard, but good selling prices are still happening.

Nov. 6, 2023

Preparing your Home for Winter

 

Preparing your house for winter, even in areas where it does not snow or freeze, is essential to ensure your comfort and energy efficiency during the colder months. Here are eleven tips to help you get your home ready for winter:
  1. Inspect and clean your heating system: Have your heating system professionally inspected and serviced, even if you don't use it much. This will ensure it operates efficiently when you need it.

  2. Check for drafts: Look for drafts around windows and doors. Seal any gaps with weatherstripping or caulking to prevent heat from escaping and cold air from entering.

  3. Adjust your thermostat: Lower your thermostat slightly when you're at home and active, and set it to a cooler temperature when you're sleeping or away to save on heating costs.

  4. Insulate your home: Ensure your home is well-insulated to maintain a consistent temperature. This can include adding insulation to the attic, walls, and floors if needed.

  5. Service your fireplace: If you have a fireplace, make sure it's clean and in good working order. Consider installing a chimney cap to prevent drafts and pests from entering through the chimney.

  6. Clean and replace filters: Regularly clean or replace filters in your HVAC system. Clogged filters can reduce efficiency and indoor air quality.

  7. Reverse ceiling fans: If you have ceiling fans, switch them to run in a clockwise direction at a low speed. This will help distribute warm air more evenly throughout the room.

  8. Seal air ducts: Check your air ducts for leaks and seal them with duct tape or mastic sealant. Leaky ducts can waste energy.

  9. Inspect your roof and gutters: Ensure your roof is in good condition and clean out your gutters to prevent ice dams or water damage during winter rains.

  10. Prepare for power outages: Even in areas that don't typically experience harsh winters, it's a good idea to have a backup plan in case of power outages. Consider investing in a generator or having emergency supplies on hand, such as flashlights, batteries, and non-perishable food.

  11. Test smoke and carbon monoxide detectors: Make sure your smoke and carbon monoxide detectors are working correctly and replace batteries if needed.

Remember that the specific steps you need to take may vary depending on the climate in your region and the type of heating and cooling systems you have in your home. It's a good idea to start your winter preparations early to ensure a comfortable and energy-efficient season.

Posted in Home Prep