Home Sales Statistics For Sacramento County - December 2010 vs. December 2009

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Real Estate Agent with GreatWest Realty DRE# 00827565

The number of single family home sales declined 12.9% in Sacramento County for the Month of December 2010 vs. December 2009.  While, median sale price experienced a 3.1% drop from a year ago. 

Condominium sales declined 1.2% in number of sales for December 2010 vs. December 2009.  Median sales price also declined.

I had been looking forward to seeing this report released.  There had been several 24-Hour Watch statistics during December days, which had been encouraging to the Sacramento real estate market.  Often the listings going to PENDING STATUS, and homes closing escrow and being reported as SOLD, outnumbered NEW LISTINGS coming to market. 

And certainly, the 1704 single family homes SOLD in December 2010, compared to 1463 in November as reported in this graph, is encouraging. However, 24 Hour Watch figures in the MLS for January, aren't producing the robust numbers of PENDINGS AND SOLDS compared to NEW LISTINGS.  

Mortgage interest rates continue at historic lows, and for those with the ability to currently buy homes.  The opportunities continue to be great!




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Rainer
321,461
Jack Mossman - The Nines Team at Keller Williams in Stockton
The Nines Team At Keller Williams - Stockton, CA
The Nines Team at Keller Williams in Stockton

Myrl ... I heard NPR say this morning that three California communities has year-over-year home price increases ... guess that didn't include either Sacramento OR Stockton!  Good report - thanks for sharing!

Jan 25, 2011 12:52 PM #2
Rainmaker
596,993
Jim Hale
ACTIONAGENTS.NET - Eugene, OR
Eugene Oregon's Best Home Search Website

I'm about to watch the President on streaming video here on my computer.  Maybe he can string that era of good feeling out for a while by knocking his State of the Union out of the park. 

For all our sakes, I hope he can.

Jan 25, 2011 12:56 PM #3
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I really hope this time next year we'll all be spreading better news.  5 years of price declines is quite enough of a "market correction" I think.

Jan 25, 2011 01:20 PM #4
Rainmaker
545,096
Toula Rosebrock
Diane Turton, Realtors, Forked River, NJ - Lacey Township, NJ
Broker/Sales Associate, Realtor, Lacey Township,

Hi Myrl:

A bit of a dip I see...

Hoping that the 2011 stats look much better! 

Jan 25, 2011 01:24 PM #5
Rainmaker
2,556,668
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Jim - I think whether this housing kite flies or not, will depend a great deal on how well banks handle that shadow inventory on their books and on the horizon. 

I'm also listening to the State of the Union address.  We need visionary leaders in this difficult time.  I don't know if we have enough of them.  Like you - for all our sakes I hope Obama can.

Jan 25, 2011 01:36 PM #6
Rainmaker
2,556,668
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Jack - I heard that news too.  Our prices haven't jumped, although the reduced number of new listings that came on the market in December, compared to the larger number that went to Pending and Sold, is an indication that prices could increase, should inventory become slim.  However, as mentioned above, January 24 Hour Watch stats haven't sustained the trend seen in December.

Jan 25, 2011 01:39 PM #7
Rainmaker
2,556,668
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Tammy - We need an economy that has some teeth to it.  Not just a Wall Street recovery, but a Main Street recovery.  We need jobs, jobs, jobs. . .and consumer confidence.  What we have seen regarding real estate prices is beyond a "market correction."  It has been cut to the bone.

Jan 25, 2011 01:40 PM #8
Rainmaker
2,556,668
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Toula - We are all looking forward to that - with a whole lot of hope!

Jan 25, 2011 01:41 PM #9
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Still heading south I see. You need some good news soon...

Jan 25, 2011 02:15 PM #10
Rainmaker
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Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

You gave a good report, Myrl, unlike the one in the Sac Bee the other day. Did you see that? The headline was something about the market turning around or sun on the horizon, but the copy was exactly what you have described. It ain't getting any better. And won't be better for a long, long time.

Jan 25, 2011 02:24 PM #11
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Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Well, good news that December was better than November... I liked that part. It has been a long hard haul, sometimes I just don't even like going these market reports, you know?

Jan 25, 2011 02:25 PM #12
Rainmaker
820,770
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Myrl, that was a lot of work you put together and interesting statistics.  One thing I found of interest was that your December closing numbers in all years are higher than November's. 

Thank you for taking the time to share the Sacramento County statistics with us. 

Jan 25, 2011 03:21 PM #13
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Toni Weidman
Sailwinds Realty - Trinity, FL
20+ Years Selling Homes in New Port Richey, FL

The market reports are a hard thing to look at in most areas; hopefully this year will see a change. Enough is enough!

Jan 25, 2011 11:16 PM #14
Rainmaker
671,751
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Myrl, Interesting statistics, that numbers for solds are higher from Novermber to December, but lower in January.  It has been an interesting January so far. We have busy as can be, but it is has been a very bumpy busy, with many roadblocks, for one reason or another.  Strange.

Jan 26, 2011 12:06 AM #15
Rainmaker
472,275
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Myrl, we are not out of the woods yet and it will be slow going. I see that prices also declined.

Jan 26, 2011 12:59 AM #16
Rainmaker
2,556,668
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Paul - You're right!  I think we do!

Elizabeth - I must admit I was encouraged when I saw several 24 Hour Watch stats in the December MLS.  Clearly, homes were showing PENDING and SOLDs each outnumbering NEW LISTINGS on several occassions.  I think those stats were reflected in the number of homes sold in December compared to November.  Still the year over year figures continue to be disappointing.  And clearly I am noticing that January 24 Hour Watch figures aren't as robust as those last month.  I missed the Sacramento Bee article.  I don't like getting in to prognosticating, because so much of the market is hinged on unseen developments.  We do not know what programs the banks or the government may roll out.  We do not know whether jobs will or will not magically appear.  I am encouraged by consumer confidence reports however.

Jan 26, 2011 04:34 AM #17
Rainmaker
2,556,668
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Andrea - That was the part I liked too!  I would like to see some encouragement this spring.

Juli - It's not as much work any more. . .I just plug in the numbers to a database I have, and generate the graphic for my blog.

Toni - I remember one month I was preparing a graph, and rather than pulling up a month in 2009 to compare against 2010, I pulled up 2007 instead.  I almost fainted, the difference between those 3 years was nauseating:-(

Jan 26, 2011 04:38 AM #18
Rainmaker
2,556,668
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Sandy - I thought it was an interesting spike in December too!  I hadn't seen that kind of activity in months.  I was hopeful it would be a continuing trend!

Janice - I just wish the market could develop teeth to sink in and hold ground with.

Jan 26, 2011 04:40 AM #19
Rainmaker
841,108
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

We can only move forward.

Jan 26, 2011 12:01 PM #20
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Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Myrl - great localism information! I think we have seen the worst of this downward spiral - at least it seems so right now!

Jan 27, 2011 03:42 AM #21
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Myrl Jeffcoat

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