Sacramento real estate market heats up in flash sales
Nationwide, Sacramento ranks eighth in the number of "flash sales," where a home went on sale and sold in less than 24 hours.
As the Sacramento area continues to build a reputation as a hot real estate market, one tracking firm said thereâ€™s reason to think itâ€™s also becoming a quick one.
Nationwide, Sacramento ranks eighth in the number of â€œflash sales,â€ where a home went on sale and sold in less than 24 hours.
Between Oct. 1 of last year and Feb. 26, Sacramento saw 128 such sales, according to brokerage firm Redfin, which compiled its rankings from Multiple Listing Service and other sources. The rankings were based on homes where the status went from active to pending less than a day after being listed.
Redfin officials cited tight inventory, high demand, and instant message alerts on new homes for sale as creating a high number of flash sales.
Sacramento was only three listings behind Los Angelesâ€™ quick-turnaround sales and seven behind San Diego, which had 135 during the five-month period, good for sixth on the list.
Phoenix, however, had by far the most such sales, with 540, followed by Chicago with 261. Houston, Dallas and Austin took the next three spots, while Denver, Las Vegas, Seattle and San Jose all trailed Sacramento in the rankings.
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Source: Sacramento Bee