Sacramento County Real Estate Price Changes By Area
I’ve written for some time now that county-wide averages might not adequately or accurately represent real changes in home values. For example, if counties with the largest drops in prices are also the ones selling the most homes (as I would expect given my role as a data nerd), then I would expect that the overall average county-wide difference in price (i.e., lump all the homes and divide) would be much higher than the averages difference in price for each area (lump homes by area, divide, then average that).
Well, if I haven’t put you to sleep already, you’ll be pleased (or horrified) to learn that the numbers don’t come out all that differently when you work the numbers different ways. For example, in Sacramento County, our latest county-wide average price drop from August to August was 32.4%, while the area-wide average of the change column, below, works out to be 30.1%. So yes, the fact that the cheapest homes are selling the most has skewed the numbers slightly — but only slightly.
And of course, averaging by-area numbers entails a whole new set of problems — like how many areas do you have and how big are they? For example, in Applegate, in Placer County, one home sold in August of 2007, and another in August of 2008. If you live in Applegate and you don’t understand statistical significance, you may be very happy to find out that your area home values went up 63.2% in one year!
Anyway, along the way we created a new query that goes area by area and checks out the price drops. We’ll probably tweak this going forward to show unit volume, but here are some preliminary results for Sacramento County.
Sacramento County Real Estate Price Real Changes By Area
| Area Name | Zip Code | Price / Sq Ft August, 2007 |
Price / Sq Ft August, 2008 |
Change |
| Carmichael | 95608 | $238.53 | $176.05 | -26.2% |
| Citrus Heights | 95610 | $190.39 | $152.00 | -20.2% |
| Citrus Heights | 95621 | $191.32 | $141.20 | -26.2% |
| East Sacramento & Vicinity | 95819 | $340.54 | $308.20 | -9.5% |
| East Sacramento & Vicinity | 95817 | $215.11 | $113.09 | -47.4% |
| Elk Grove | 95624 | $198.27 | $128.69 | -35.1% |
| Elk Grove | 95758 | $197.74 | $133.42 | -32.5% |
| Elk Grove | 95757 | $163.01 | $130.52 | -19.9% |
| Elverta | 95626 | $230.55 | $134.52 | -41.7% |
| Fair Oaks | 95628 | $218.27 | $182.37 | -16.4% |
| Folsom & Vicinity | 95630 | $227.07 | $196.91 | -13.3% |
| Galt | 95632 | $248.01 | $132.25 | -46.7% |
| North Highlands& Vicinity | 95660 | $168.99 | $108.01 | -36.1% |
| North Sacramento Natomas Del Paso Heights | 95833 | $207.66 | $126.11 | -39.3% |
| North Sacramento Natomas Del Paso Heights | 95838 | $174.92 | $92.33 | -47.2% |
| North Sacramento Natomas Del Paso Heights | 95835 | $187.53 | $134.79 | -28.1% |
| North Sacramento Natomas Del Paso Heights | 95834 | $179.39 | $122.76 | -31.6% |
| Orangevale | 95662 | $214.62 | $178.93 | -16.6% |
| Ranch Cordova Gold River | 95670 | $199.76 | $142.98 | -28.4% |
| Rancho Cordova | 95742 | $159.88 | $126.58 | -20.8% |
| Rancho Murieta | 95683 | $225.04 | $182.43 | -18.9% |
| Rio Linda | 95673 | $198.12 | $148.83 | -24.9% |
| Sacramento Antelope | 95843 | $181.10 | $131.65 | -27.3% |
| Sacramento Arden Arcade Creek Vicinity | 95821 | $222.28 | $163.22 | -26.6% |
| Sacramento Arden Arcade Creek Vicinity | 95864 | $292.29 | $251.95 | -13.8% |
| Sacramento Arden Arcade Creek Vicinity | 95841 | $182.14 | $135.85 | -25.4% |
| Sacramento Arden Arcade Creek Vicinity | 95825 | $217.62 | $158.04 | -27.4% |
| Sacramento Arden-Arcade Creek Vicinity | 95815 | $164.02 | $85.53 | -47.9% |
| Sacramento Downtown Midtown | 95816 | $376.61 | $261.81 | -30.5% |
| Sacramento Downtown Midtown | 95814 | $256.95 | $251.10 | -2.3% |
| Sacramento Elder Creek Fruitridge | 95820 | $182.31 | $105.92 | -41.9% |
| Sacramento Elder Creek Fruitridge | 95824 | $176.41 | $90.99 | -48.4% |
| Sacramento Florin & Vicinity | 95829 | $200.21 | $135.31 | -32.4% |
| Sacramento Florin & Vicinity | 95828 | $176.47 | $106.17 | -39.8% |
| Sacramento Foothill Farms | 95842 | $180.55 | $110.73 | -38.7% |
| Sacramento Franklin Freeport Vicinity | 95823 | $162.54 | $96.31 | -40.7% |
| Sacramento Franklin Freeport Vicinity | 95832 | $163.34 | $94.97 | -41.9% |
| Sacramento Land Park Curtis Park | 95818 | $312.15 | $308.98 | -1.0% |
| Sacramento Rosemont College Greens Mayhew | 95827 | $192.31 | $134.07 | -30.3% |
| Sacramento Rosemont College Greens Mayhew | 95826 | $196.92 | $140.94 | -28.4% |
| Sacramento So Land Park Greenhaven | 95831 | $220.18 | $186.55 | -15.3% |
| Sacramento South Land Park Greenhaven | 95822 | $226.45 | $120.62 | -46.7% |
| Walnut Grove | 95690 | $530.98 | $181.22 | -65.9% |
| Wilton | 95693 | $247.71 | $184.75 | -25.4% |
Related links:
How Have the Credit Crisis and Bailout Affected The Real Estate BusinessSacramento County Real Estate — Sold Prices and Unit Volume Charts
Sacramento County Real Estate Market Review :: September, 2008
