Sacramento Real Estate Blog

Well, with Trick or Treat over, it’s time to take my usual look at last month’s Sacramento County market data and see if there’s something punditious I can say about it.

Somebody Google “punditious” for me and let me know if I got there first. I can’t bear to look.

Meantime, let me punditulate as follows:

October was a slow news month, because October’s drop from last year looks a lot like September and August’s drop from last year. October’s median sale price was $350,000, down 5.4% from last year’s median of $370,000. Quoting myself from last month:

The year to year median sale price decreased 6.5% from September to September, from $374,900 last September to $350,500 this September. August’s year on year median sale price decrease, in contrast, was 4.6%.

So as you can see, in October we just about split the difference.

Inventory currently stands at 9.8 months, up slightly from the end of September. This year’s average price is down 3.9% from last year ($402,807 last year versus $387,275), while the average sold price per square foot changed more rapidly, being now down 8.3% from last year ($251.75 to $230.80).

Unit volume is off 44.4% from last year, from 1778 to 989. Meantime the expired to sold ratio is 111.4%, with 1102 expired in October versus those same 989 sales.

I’d like to see a graph for the whole thing since about last year. Looks like it’s time for me to be about my data entry to see what I can come up with.