Sacramento Real Estate Views

Archive for January, 2009

Sacramento and Placer County Real Estate

Active Listings Watch

I’m going to start tracking inventory levels in the two counties that I predominantly work in  as well as providing the information for the average home listed in each county.

With the moratoriums that have been placed on foreclosures over the last quarter of 2008, it will be interesting to see where we were before they were lifted.  From all indications, there may be a lot of inventory coming on the market in the coming months but we won’t know until we get there.  Overall, at this point, inventory levels are down from the summer of 2008, that is to be expected given the moratoriums.

How many homes there are for sale combined with the pace of sales (are the sales keeping pace with homes coming on the market, reducing the inventory or is the inventory increasing despite the sales volume) all weigh in to ultimately what values will do.  This is simple economics of supply and demand.

The inventory levels stated here should be deemed accurate but not exact as there are sales that occur outside of the multiple listing service where this information is derived.

Sacramento County Active Listings

As of today at 9:45am, and it changes every hour, the total active listings for Sacramento county is 6540 single family homes for sale in all statuses.  This is the bulk of the market and fluctuates so it’s only completely relevant the moment it’s taken.

The average home for sale in the County looks like this:

3 bedrooms, 2.29 baths, 1773 square feet priced at $262,563.  This average home has been on the market for a combined 122 days.

A home like this is clearly over priced as a properly priced home should sell much more quickly but it serves as an indication of where the market is for Sacramento county.

Placer County Active Listings

Placer county, as most know, is much more rural and less populated than Sacramento county.  The average prices in Placer county are higher than in Sacramento county.

As of today at 9:50am, there were 1980 active listings in Placer county.  Of these listings, the average home for sale looks like this:

4 bedrooms, 2.93 baths, 2571 square feet priced at $551,340 and has been on the market for a combined days of 149.

Throughout the year, every month, I’ll post a new article about active listings in each county.  Again this will be great information as we begin to come out of this crisis into a normal market.  Honestly, having said that, I don’t know if we’ve had a normal market since I’ve been in the industry.  What the heck is a normal market anyway?

Tags: homes in placer county, homes in sacramento county

Happy New Year!

I guess I’m a little late on the bandwagon with holiday wishes but none the less, best wishes for the New Year to you.  I hope your holiday season was safe, festive and fun.

May this year be better than last year.  I was considering doing a peice on last year but I thought I’d leave “the dead to the dead”, so to speak.

Some Changes

You may have noticed a few changes on my site over the last couple weeks.  Since ceasing working on CapitolCityForeclosures, I’ve been working toward making this site better for all who visit.

With that goal in mind, if you have any suggestions as to what you’d like to see that would make your experience here better, provide more resources for you  or any suggestion at all, please feel free to comment on this article.  Any comments are appreciated.

Once again, Happy New Year to you and yours.

Rob Saxe

Tags: happy new year