Sacramento area home prices continue to increase

April statsThe number of homes sold in Sacramento County in March dropped to the lowest level for the month in six years, DataQuick reported Wednesday.

The median price for detached resale homes in the county was $245,000 – 19.5 percent higher than March of last year, the San Diego real estate information service said. Yet only 1,456 single-family resale homes closed escrow last month – a nearly 15 percent drop from the same month a year ago, DataQuick said.

A low supply of homes for sale was the main reason, said DataQuick analyst Andrew LePage. Fewer sales to investors, decreased affordability for buyers and credit hurdles were other reasons, “but tight inventory’s at the top of the list,” he said.

There are currently about 1.5 months of inventory in Sacramento County, meaning it would take about that long to sell all the homes on the market, the Sacramento Association of Realtors recently said. Anything less than three months is deemed a sellers’ market.

Sales volume also fell significantly in El Dorado, Placer and Yolo counties last month compared with March 2013, DataQuick reported

Read more here: http://www.sacbee.com/2014/04/16/6330782/sacramento-county-home-sales-drop.html#storylink=cpy
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April Median Home Prices on the Increase

Great News for the Sacramento area real estate market.  April, 2013 Home Sales Prices are on the increase.  Check on detailed information in this article in the Sacramento Bee:

Sacramento County‘s median home resale price up nearly one-third

Published: Thursday, May. 16, 2013 – 12:00 am | Page 6B
Last Modified: Thursday, May. 16, 2013 – 7:53 am

In Sacramento County, the median price of detached resale homes rose by nearly a third in April compared with the same month a year before, DataQuick reported Wednesday.

The median price of resale homes in El Dorado County jumped by about 33 percent last month compared with April 2012. Placer and Yolo counties also experienced double-digit percentage gains, the San Diego-based real estate information service said.

“These eye-popping increases in medians remain a function of two things: home values going up because a lot of people are trying to buy in a supply-constrained market … and we’re seeing a lot more move-up activity,” said DataQuick analyst Andrew LePage.

The median is the price at which half of houses sell for more and half sell for less. Factors that influence it include the mix of homes sold.

Last year at this time, investors snapping up foreclosures dominated the region’s market. Today, foreclosure sales have plummeted and traditional buyers account for the majority of the open market, with many buying pricier move-up homes.

Sales of Sacramento County homes in the $300,000 to $800,000 range nearly doubled in April compared with the same month a year ago, while the number of homes that sold for less than $200,000 dropped by 26.5 percent, LePage said.

Median prices in all four counties also rose from March to April. In Sacramento County, for instance, the median sale price for detached single-family homes went from $162,000 in April 2012 to $208,000 in March to $215,000 last month.

Sales volume has also been picking up across the region, though the number of homes on the market remains at historic lows. Last month, the number of resale homes bought in Placer County was the most for any April since 2005, near the peak of the housing boom.

Call The Bee’s Hudson Sangree, (916) 321-1191.

Read more here: http://www.sacbee.com/2013/05/16/5424557/sacramento-countys-median-home.html#storylink=cpy

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Sacramento Homes Prices on the Rise

Sacramento is suffering from lack of inventory for sale.  Due to the lack of available homes, the home prices in December, 2012 are on the rise.

Figures released by DataQuick show that the median home prices in Sacramento County rose 18% in December compared to December, 2011 from $155,000 to $183,000.

 

 

 

 

 

 

 

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Sacramento home prices climb in November

Sacramento‘s median home prices on the rise again!

The median home price in Sacramento County rose nearly 17 percent in November from the same month a year before, DataQuick reported this morning.

It was the largest year-over-year price gain in November since the housing market was booming in November 2004, according to the San Diego-based information service.

The county’s median home price of $185,000 last month was up from $158,500 the prior November. It was also up over October’s median of $180,000, DataQuick said.

However, sales volume was slightly down in November from October.

Strong investor activity coupled with a shortage of homes for sale has boosted home prices in the past half year.

In the last few month, more move-up buyers have been entering the market, seeking to take advantage of rock-bottom prices and interest rates near historic lows.

Read more here: http://www.sacbee.com/2012/12/13/5052791/sacramento-home-prices-climb-in.html#storylink=cpy
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