Sacramento County Real Estate, December, 2006
Looking back on Sacramento County real estate for last month compared to a year ago, we see a modest decrease in sales and prices from one year to the next. The average home sold for $383,034 in December, 2006, according to MLS statistics. This contrasts to $399,319 a year ago, a 4.1% drop. Coincidentally, the median sale price also dropped 4.1%, from $365,000 last year to $349,900 this year.
At the same time, consumers were getting a slightly bigger house for their money. At 1717 square feet, the average home was 3.3% bigger than last year’s 1662 square foot average home sold. Between the increased size and decreased price, the average price per square foot dropped 7.2% overall, from $240.26 last year to $223.08 this year.
This year the number of expireds — already in the “buyer’s market” range last year — has increased further. The ratio of expired to solds was 70.9% last December, and this December had risen to 133% (1354 expireds versus 1050 solds).
