Sacramento County Real Estate Market
As we move into March and look back on February’s numbers for Sacramento County, we find the same “slow compared to last year news” coupled with some seasonal warming as we’d expect.
“Seasonal warming?” Seems I’m not a weatherman, but I sometimes play one on the Internet, albeit without intending to.
Anyway, what I mean to say is that our expired to sold ratio is now down from it’s winter high of almost 50/50, to 58% sold to 42% expired. Yes, this is still high compared to a year ago, when the numbers were 93% sold to 7% expired, but things are starting to pick up in the Spring rush.
For Sacramento County residential home sales, February’s median price was $360,000, up 7.5% from last year. The average list price was $402,883 and the average sale was 98.8% of that figure at $397,893, meaning the average sale price appreciated 12.8% from last year. (There appears to be a bad apple or two in the square footage data, inasmuch as the cost per square foot’s value is not believable — that said, I won’t report it).
Unit volume is down considerably (35.6%) from last year, based on 1494 units last February as opposed to 962 this February. Inventory county-wide is currently at 7.4 months.
