Sacramento County Residential Market Report

This report is a little late but the information is relevant. The median sales price for homes sold/closed in Sacramento County changed from $180,000 in July to $190,000 in August. This is an increase of 5.6%.

Many factors affect the median home sales price but fewer bank-owned sales is probably the biggest single factor. Many bank sales are below the existing median home price and usually have a downward affect on this measurement. The bank sales have decreased slightly from the previous months and short sales and conventional sales have increased. In August, there were 801 bank sales, down from 908 in July.

The number of homes that sold/closed in August was lower than July. In July there were 1,848 closed sales and in August there were 1,683. One has to look at this data over a period of time to detect any trends. In the next week I plan to post a graph showing the number of closed sales in Sacramento county from January 2009 through September. This will be interesting because a graph can tell a quick story as to how the market is doing.

One other interesting statistic, 95.1% of the homes sold/closed in August were priced under $400,000. What price range had the highest number of sales? $200,000 to $249,999, which accounted for 314 sales or 18.7% of the total.

Richard Kitowski

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