Sacramento Market Report for September, 2009

There were 1,631 closed single family home sales for the month of September, 2009. This is down from 1,683 home sales for the month of August. For September, REO sales were 45.4% (741), short sales 19.3%(314) and conventional sales at 35.3%(576).

The median home price for Sacramento County decreased to $183,000 from $190,000 in August. September median at $183,000 is 6.1% below the September median of 2008 at $194,950.

The market seems very stable in terms of closed sales and pending sales vs. new listings. There were 1,794 new single family homes listings published for September. Compare this with the number of homes that went into escrow at 1,679 and closed sales of 1,631. Based on current rate of homes going into pending sale there is about a 3.2 month supply of homes for sale.

I will have a graph posed in the next couple of days showing the number of sales each month for Sacramento County vs. the number of homes that went into escrow.

Please email if you have any questions, comments or would like additional information on Sacramento real estate.

Richard Kitowski
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