Sacramento Home Sales Report for June 2008

By
Real Estate Broker/Owner with Riede Real Estate, Lic. 01310792

Sacramento Real Estate Market ReportSacramento Real Estate is continuing to increase in home sales each month as evidenced by the numbers reflected in the chart to the left.

There has been a steady slow increase in home sales each month from January through June 2008.

The numbers are include single family homes only. Condos, investment property such as duplexes etc. and land are not included within the figures.

For specific numbers for each of the Cities and Communities within the Sacramento County be sure to check Specific Sacramento City and Community Real Estate Market Report.

Number of SOLD homes in Sacramento per the chart above.

811 Homes Sold in January 2008

917 Homes Sold in February 2008

1,084 Homes Sold in March 2008

1,480 Homes Sold in April 2008

1,544 Homes Sold in May 2008

1,608 Homes Sold in June 2008

Average Sacramento Home Price by Month:

$277,463 January 2008 Average Home Price

$279,599 February 2008 Average Home Price

$273,207 March 2008 Average Home Price

$254,683 April 2008 Average Home Price

$254,325 May 2008 Average Home Price

$243,397 June 2008 Average Home Price

Average Days on the Market to Sell House in Sacramento:

74 Days to Sell House in January

66 Days to Sell House in February

58 Days to Sell House in March

57 Days to Sell House in April

54 Days to Sell House in May

51 Days to Sell House in June

From January 1, 2008 through June 30, 2008 7,654 single family homes have sold in the Sacramento area. Sacramento Real Estate is continuing to improve little by little with inventory selling and home prices slightly continuing going down.

The numbers reflected are extracted from the MLS system the first week of each month and reflect a lower amount of solds than what may be the final number since offices vary as to when they input their data. In essence, the numbers can only be better so Real Estate in Sacramento is alive and kickin'.

We are on the road to recovery as inventory lessens and home sales continue. If you are thinking of a relocation to the Sacramento area be sure to check out the neighborhood real estate market reports and neighborhood videos along with neighborhood articles at Sacramento Real Estate and Luxury Homes.

 

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Want to check which homes, condos, investment properties and land are for sale in Sacramento and the surrounding areas? Just click on the search icon and pick the neighborhood you are interested in finding a home or condo for sale in and around the Sacramento area Sacramento MLS .

Comments (10)

Associate Broker Falmouth MA Cape Cod Heath Coker
https://teamcoker.robertpaul.com - Falmouth, MA
Heath Coker Berkshire Hathaway HS Robert Paul Prop

Sounds like you have good news in CA finally!  Make sure you post positive real estate news to the positive real estate news AR group!

Jul 02, 2008 09:37 AM
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Gena, it's fun to look at numbers in other parts of the country.  One thing I noticed is your average days on the market numbers, and they don't look bad at all!  Looks like a pretty balanced market.

Jul 02, 2008 10:21 AM
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Good Evening Gens, Those are some impressive figures and it is more than a trend with 6 continuous months of growth. The report was really attractive and the newspapers should print something like this and spread the good news. Excellent!

Jul 02, 2008 04:13 PM
Robert Machado
HomePointe Property Management, CRMC - Sacramento, CA
CPM MPM - Property Manager and Property Management

Gena,  I see that although sales numbers are going up, average price is going down.  It must be that more foreclosures are hitting the market and the banks are reducing prices.  It would also appear he higher end of the market is still suffering.   It looks like we have a way to go. 

Jul 02, 2008 05:15 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Heath, yes buyers and investors are back in the saddle and homes are selling, inventory is lessening. It's a slow but steady increase in sales each month.

Thanks for the positive group. I went ahead and placed it in there. The positive aspects need to be brought out since we have certainly had more than our fair share of the bad.

Jul 02, 2008 06:31 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Patricia, now our numbers are more true to form. It use to be that the numbers really didn't mean much if a house was taken off and put back on but now we have accumulative DOM so it's a lot more accurate.

 

Jul 02, 2008 06:35 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

William, it's always good news to see a steady strong increase and that is what we have been seeing. Hopefully, the media will be more proactive rather than destructive. I don't think I've been hearing as much negativity as I was in the past. So, that's a good thing.  It's nice to see the change.

Jul 02, 2008 06:38 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Robert, it's a darn site better than it was and I for one am very thankful. The buyers and the investors are back.

The important factor is that inventory is moving and the sooner the inventory moves the sooner we will get to a point of stabilization.

Sacramento is headed in the right direction, inventory is being SOLD and making room for more to sell.

Jul 02, 2008 06:41 PM
Marian S. Bennett
Dreyfus Sotheby's International Realty - Menlo Park, CA
Realtor, e-PRO

Thanks for your report Gena!  I enjoy reading about your market because I have family in Folsom.  I will forward this to them.  It is fascinating to watch the market shift in action.  Clearly the Sacramento area is beginning to turn a corner as the qualified buyers take notice.  With Half Moon Bay area prices more than 200% higher and only a 5% drop in the last year (off the median single family home), it may be a good time for those dreaming a warmer climate within a 3 hour drive to take a look at your market for a relocation or 2nd home?

Jul 04, 2008 06:02 AM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699

Marian,

Couldn't agree more. I've been working with 2nd home buyers from San Jose over the July 4th holiday. This is a fabulous time for investors, those relocating and of course 2nd home buyers. Inventory is moving which only brings about a brighter outlook.

Greatly honored that you will forward this article to your relatives in Folsom.

Jul 05, 2008 01:57 PM