Hmm. Is it just me, or do the median price statistics in Sacramento County sure seem to look pretty flat for the last year? If you look at the median price in December 2008 vs. that of December 2009, you will actually see an INCREASE of about 5.1%! Perhaps now we have enough data to think this little trough we saw from last January to April was not a fluke - and stability is here to stay? Time will tell. I can tell you that most of the transactions I have been representing for both buyers and sellers, (in all price ranges, short sales, foreclosures, and "regular transactions with a traditional sellers" - yes those DO exist!) are mostly met with multiple offers often resulting in pushing the price over the listing price. If you would like me to email you the Facts and Trends graphs for specific zip codes in Sacramento County, just shoot me an email and I am happy to provide them.
Sacramento Real Estate Statistics - December 2009
2 comments • Erin Attardi, Realtor - Sacramento, CA 916-342-1372 • January 26 2010 09:21PMSacramento County Real Estate Statistics - April 2009
Hmm...what's going on here? The median real estate price point in Sacramento County has been pretty even for the last four months in a row.
Supply and demand is a pretty basic economic principle...if you look at the number of homes on the market versus the number of homes that closed escrow in April 2009, there is only a 2.5-month supply of homes on the market. These inventory numbers are really interesting if broken down into different price ranges...in the $200k and below price range, last month there was just 1.6 months of inventory. Between $200k - 500k, there was 3.3 months of inventory. Over $500k, there was 13.6 months of inventory!! The market is very brisk and competitive in the lower price ranges. For a reference point, 6 months of inventory is widely regarded as a market with buyer/seller equilibrium.
Just to flash back...in September 2007, the overall supply of homes in Sacramento County had reached / peaked at 15 months.
Please keep in mind that not all areas and neighborhoods are affected in the same way...if you would like me to email you statistical graphs for a specific zip code, feel free to email me at erin@erinattardi.com.
0 comments • Erin Attardi, Realtor - Sacramento, CA 916-342-1372 • May 14 2009 01:02AMHTML, CSS, "raindrop" logo, and generic header image © 2009 ActiveRain Corp. Logos and service marks owned by copyright holder.