Real Estate Market in Sacramento County
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).
