Sacramento Real Estate Market Update
This market update covers residential listings sold through the MLS for all of Sacramento county. Included are non-mobile-home residential units (Condos, Detached Homes, etc.), but not residential income properties.
In December of 2005, 1239 residential units sold through the MLS. Average sale price looks to perhaps have an error in one of the values, since it came out at 105.3% of list, which looks suspect. Average list price is reported at $403,108, and average sale price at $424,405. The median sale price was $368,000, up 11.5% from December of 2004.
Days on market were up 45%, from 29 last year to 42 this year. Expired listings were up dramatically as a percentage of solds, from 11.9% last year to 86.9% this year.
The image below compares the two periods graphically, and shows expired and sold listings as a percentage of total. (We focus in on expired and sold, but note that there are other things a listing can be doing, such as going “Pending” (opening escrow, typically resulting in a sold listing, or being marked “Withdrawn Cancelled” — i.e., seller changed their mind for some reason).
