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California Home Sales Figures for February 2009 released

By
Real Estate Agent with Neighborly Realty

The California Association of Realtors released February 2009 home sales data.

Key takeaways:

  • Unsold Inventory Index for existing, single-family detached homes in February 2009 was 6.9 months compared with 15.3 months (revised) for the same period a year ago.  The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
  • 30 year fixed-mortgage interest rates averaged 5.13 percent during February 2009, compared with 5.92 percent last year.  Adjustable-mortgages rates dropped to 4.87% compared with 5.03% for the same time period.
  • It took an average of 51.5 days to sell a home in February 2009 compared with 69.3 days last year.

DataQuick statistics which bases it's data from county records reports the following regional housing price shifts (see below).  NOTE:  Large changes in local median home prices typically indicate both local home price appreciation, AND often, large shifts in the composition of housing market activity.  In other words, what we are seeing in today's market is a larger volume of less expensive homes being sold compared to prior year's sales.  Also, note that home prices are local.  And by that I mean neighborhood by neighborhood within a city or area. The Sacramento Region posted a 34.8% decline in price for February 2009 compared with February 2008.  This was a .6% decline from January (less than 1%).  California overall posted a 40.8% decline (Single family detached home) for February 2009 compared with February 2008.

County/City

February 2009

February 2008

Y-T-Y Change

 

 

 

 

Placer County

315,000.00

370,000.00

-14.90%

Auburn

312,500.00

343,000.00

-8.90%

Lincoln

270,000.00

340,000.00

-20.60%

Rocklin

320,000.00

382,500.00

-16.30%

Roseville

310,000.00

359,000.00

-13.60%

 

 

 

 

Sacramento County

160,000.00

260,000.00

-38.50%

Antelope

202,500.00

250,000.00

-19.00%

Carmichael

203,000.00

270,000.00

-24.80%

Citrus Heights

157,250.00

222,500.00

-24.80%

Elk Grove

233,250.00

310,000.00

-24.80%

Fair Oaks

235,000.00

329,750.00

-28.70%

Folsom

399,750.00

400,000.00

-0.10%

Galt

165,500.00

241,000.00

-31.00%

North Highlands

82,500.00

131,000.00

-37%

Orangevale

205,000.00

258,500.00

-20.70%

Rancho Cordova

229,750.00

318,500.00

-27.90%

Sacramento

123,250.00

228,000.00

-45.90%

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