Sacramento Real Estate Market
Sacramento’s real estate market statistics for June of 2007 are fairly discouraging, with prices falling from last year and inventory up compared to the month before.
The median sold price dropped to $329,000 this June, down 10.5% from last June’s $367,500. The average sold price for residential real estate according to the MLS was $373,266, down 9.3% from last year’s average of $411,352. This figure, combined with a very slight increase in the average size, pushed the sold price per square foot value down to $219.18, on average, which is down 10.3% from last June’s average of $244.42. Sacramentans who want to console themselves with the rate of decline here can tell themselves, “Oh well, at least we’re not in Roseville” (where the sold price per square foot dropped 14.4% from June to June.)
Meantime, unlike Placer County, the expired to sold ratio has not started to improve. The expired to sold ratio is simply a fraction (decimal) of the number of listings that have expired unsold in a given period (many of these will later appear back on the market) versus the number that have sold. This June’s expired to sold ratio in Sacramento County was 84.8%, which is up not only from last June’s 60.7%, but also from May’s value of 76.2%.
Inventory is also up. Currently it stands at 10.14 months, versus last month’s figure of 9.5 months.
