Sacramento Condo Market Update, November, 2006
November’s numbers for condo sales in Sacramento County were not much different from residential sales in Sacramento overall, with modest drops in prices from last year. The average price of a condo in Sacamento County dropped 5.3% from last November’s $262,774, with the average this year coming in at $248,330. Since this year’s “average sized condo” was slightly larger than last year, the sold price per square foot ratio dropped more substantially at 6.2%. The median price, meantime, changed only 3.6%, dropping from $256,500 last November to $248,330 this November.
Already last year at this time, condo sales were showing signs of slowing down, with the expired to sold ratio up to 60.3%. This year the number stands at 113.2%, with more listings expiring (86) than selling (76) in November.
