Local Real Estate News

From your local Sacramento neighborhood expert, Carlos Montoya

Sacramento Home Sales – Year Over Year

Local Real Estate Trends

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Year over year, home sales in Sacramento have seen dramatic improvement. It appears as if the regions market conditions have returned to pre-bubble conditions. Homes appear to have returned to the same prices as before the real estate collapse of 2008.

It’s All Good News, Sacramento Home Sales Are On The Rise

The latest report from CoreLogic show the median price for home sales in Sacramento County approaching $300,000. The last time it was that high was in the fall of 2007, after which prices fell by nearly half over the next five years. Put even simpler, housing values are smack dab back to where they were in mid-2004, before easy credit and rampant speculation fueled a titanic 25 percent surge in prices by mid-summer 2005.
A similar trend is going on right now in El Dorado, Yolo and Placer counties, where median home prices are also at mid-2004 levels. By 2013, we finally experienced a recovery as prices of undervalued homes values jumped by about 30%. While that trend has cooled, home sales in Sacramento are up! Prices since have been still been steadily rising, generally by almost 10% annually, since the middle of 2014. This trend looks to continue throughought the rest of 2016 into next year.

Median Sale Price for Homes In Sacramento

# of Bedrooms
May 4 – Aug 3
Year Over Year
3 Months Prior
1 Year Prior
5 Years Prior

1 Bedroom
$121,000
+ 13.1%
$112,500
$107,000
$56,500
2 Bedrooms
$221,250
+ 16.6%
$208,000
$189,750
$87,500
3 Bedrooms
$265,000
+ 13.7%
$250,000
$233,000
$125,000
4 Bedrooms
$321,000
+ 10.7%
$293,250
$290,000
$165,500
All Properties
$270,000
+ 9.3%
$255,000
$247,000
$130,000

SACRAMENTO COUNTY HOME SALES:

It took an average of 31 days to sell a home last month.
It took 6 less days to sell last month that the previous month.
It took 11 less days to sell this April compared to last April.
Sales volume is down slightly from last year by 3%.
There is only 1.3 months of housing supply in Sacramento County.
Housing inventory is 15% lower than it was last year at the same time.
The median price increased by 1% last month.
The median price is 10% higher than the same time last year.
The avg price per sq ft increased by 2.8% last month.
The avg price per sq ft is 8.8% higher than the same time last year.

Credit: SacramentoAppraisalBlog.com
http://sacramentoappraisalblog.com/tag/sacramento-real-estate-market/

PLACER COUNTY HOME SALES:

It took 6 more days to sell a house last month than November, but it was taking 5 days longer to sell at the same time last year.
Sales volume was 1% higher this December compared to last December.
Sales volume was 13% higher in 2015 compared to 2014.
Housing inventory is 16% lower than the same time last year.
Cash sales were only 15% of all sales in 2015.
The average price per sq ft, median price, and average sales price showed a slight seasonal dip over the past few months.
The avg price per sq ft is 3.6% higher than last year at the same time.
The median price is 2% higher than it was last year at the same time.
REO sales were 1.8% of all sales last month.
Short sales were only 3% of all sales last month in the region.



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(3) Comments

  1. Pingback: Landscaping Improvements That Increase Your Homes Value - Montoya Real Estate

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