Sacramento County Real Estate - Market Update

Posted by John Lockwood on April 10th, 2006

We had a pretty fun time talking about the rally in home prices in Sacramento County in March. This post digs a little deeper into the numbers.

The average home sold through the MLS in Sacramento County in March of 2006 listed for $404,280 and sold for 98.7% of list, at $399,025. The median sale price was $365,000. Homes appreciated by the following amounts, from last year.

  • Average sale price: 9.6%
  • Average sold price per square foot: 3.7%
  • Median sale price: 7.7%

I usually go for sold price per square foot, but in this case it gives the most pessimistic result.

Days on market are almost doubled, from an average of 26 last year to an average of 50 this year. Meantime, units sold are down considerably from 2255 last year to 1322 this year, a 41.4% decrease. Inventory is currently at 5.6 months.

A year ago, the number of listings that expired (taken as a total of all those that either expired or sold), was five percent. A few months ago it had deteriorated to something very close to 50/50. We’ve regained some of that back now, so that the expireds are 35% of the total, and solds are 65%.