Sacramento Condo Market November 2005
As we’ve seen in all segments of the market, sales are down somewhat from last year, with more listings expired unsold. Condo sales are no exception to this general rule.
Condo owners saw their property values increase by 15.1% from November to November. However, since this year’s average condo was larger than last year, on a price-per-square-foot basis the appreciation was somewhat lower, at 12.2%. The average condo in Sacramento County that sold through the MLS in November listed for $264,007, and sold for 98.9% of the list price, for an average sale price of $261,088. The median sale price was $255,000.
This November’s expired to sold ratio is up, to 60.4%, compared to only 13.1% as for November of 2004. Days on market are up from an average of 27 days last year to 43 days this year. Unit sales for November were 111 units, down from last year’s 137, and inventory currently stands at 4.8 months.
