Well, there’s been a lot of talk here about getting good bargains now that the market is changing. Two clients of mine just scored a beautiful home in Pollock Pines for some $60,000 under the comps — not bad.
Once again, price turned out to be king, no matter what the market was doing. We opened escrow on that one after it had been on the market just five days.
I haven’t been keeping up as much as I’d like with the blog, so I thought I’d just take a minute to share that news.
Average Sacramento County home prices fell again in April, erasing the gains made in February and March and falling slightly below January’s level. The average sold price for residential property (including single family, condos, halfplexes, etc), fell to $392,252 in April based on Metrolist MLS data. Because the overall trend since August has been downward, appreciation since last April has been very low at only 2.23% per year. We predict that by next month the year-to-year price change will be negative and remain so until August at least.
As to median prices, we’ve hit our first year to year decline in recent memory. The median sold price in Sacramento County was $356,000 this April, versus $358,950 last April.
What this proves is that you shouldn’t buy a house on the median, because there are too many cars going by. Locations away from the highway are better.
You didn’t see that one coming, did you? Jokes like that can make you hate your first grade teacher for teaching you how to read.
But I digress. What you’re all waiting for patiently by now is THE CHART.
