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11 Jul

Real Estate Market in Sacramento County

Posted July 11th, 2006 | View Comments

June’s real estate market in Sacramento county has shown considerable slowing from last year, with a slight depreciation in home values. 1216 residential units sold through the MLS in June, down 51.7% from last year. Meantime, the number of expireds was up 391%, from 188 last June to 923 this June. Together, these two figures gave us a tenfold increase in the expired to sold ratio, from 7.5% last June to 75.9% this June. Inventory is currently at 8.4 months.

The average home sold for $415,145 this June, or 98% of the average list price of $421,818. The median sale price was $369,000.

The average sold price was up 3.9% from last year, a figure somewhat deceiving inasmuch as the average square footage appreciated by 4.7%. On a sold price per square foot basis, this year’s average is a .8% drop from last year. The median sale price is down .3% (last year’s median was $370,000).

  • http://sandiegohomeblog.com/?p=87 The San Diego Home Blog » Blog Archive » We Are Not Alone

    [...] I was doing a little poking around this morning to see what’s happening in the Sacramento real estate market (have clients considering a contingent offer from an out-of-town couple) and came across an interesting blog (http://www.sacramento-home.com/real-estate-events/2006/real-estate-market-in-sacramento-county_219.html). It seems that at least this area of California is feeling some of the market shift pains that we are.  In this particular blog, the author cites the steep increase in “expireds”, or homes that failed to sell prior to expiration of the listing term, which got me curious about our San Diego expireds trend. [...]

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