I am often asked this question. Well, the stats are out for Sacramento County for August 2008, and for the first time in a LONG TIME, there was an increase in the median home price. Keep in mind that certain micro-markets within Sacramento County have had ongoing increases to the median price for the better part of 2008...this county-wide increase is very exciting though. This is not exactly enough information to consider a trend, but exciting nonetheless. The average price for Sacramento County also increased (graph not shown - increased from $235k to $241k). What else is happening from a statistal standpoint? The overall number of closed sales in Sacramento County decreased a bit from July 2008 to August 2008 (1,784 closed in August / 2,060 in July), but the pendings went up substantially (2,539 pending in August / 2,238 in July). REO's still dominate a large percentage of the pendings and solds. County-wide, there is 3.9 months of listing inventory. 6 months of inventory is widely regarded as a balanced buyer/seller market. Stay tuned...
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!
Orlando, FL
SEO, Mobile SEO, and Internet Marketing Consultant
Erin, I am sure your area will bounce back. I have only been to Sacramento once, but I really loved it out there. I always say I think I grew up on the wrong coast. Anyway, just hang in there!
Sep 18, 2008 12:34 AM
Lyon Real Estate - Davis, CA
Ca Real Estate
It's great that the median price was up for August. I wonder how September is going to play out with all this negative financial news. It seems like there is a decrease in activity in Davis. The one thing I'm really noticing here is that we've had very few new listings come on in the past couple of weeks. Don't know if it is a regional trend or just something going on in Davis.
Sep 24, 2008 08:01 PM
Rainer
118,560
118,560
Erin Stumpf (Attardi)
916-342-1372 / DRE# 01706589 Sacramento, CA
Comments(4)