Sacramento Real Estate Views

Sacramento Home Sales – April

Sacramento Real Estate Market Takes a Breath

The April numbers, honestly, aren’t that surprising.  That said, I expected the average sales price to be closer to the numbers in the first quarter of this year.  I guess buyers, especially investors, are taking a bit of a break from the harried pace of the last 4 months.  With fewer sales, prices have come down.

Average Sales Price and Homes Sold Dips

The average sales price of homes in Sacramento County dropped almost 16% in April.  Compared to the numbers in the first quarter, this is a little startling.  While not surprising due to the number of homes that are not occupied AND not on the market. This has created a “false bottom” in the Sacramento real estate market and investors are waiting to see what’s going to happen going forward.

This news has gained national attention and it’s my guess that buyers, especially investors, are waiting to see what the next couple months will bring.  It’s been my advice to investors to sit tight for a month or so to get a better read on what the banks will do with the homes that have been foreclosed on but aren’t on the market.

Home Sales

Homes sales also declined in April.  This reminds me of what happened in late 2006, early 2007.  Prices and sales declined while the market began to find it’s value point.  This time it’s not about value but investors looking at the market with a bit of caution.

At present, investors are about 35% of our market, first time home buyers are about 53% of our market and that leaves about 12% for move up buyers or second home purchasers.  Homes sales in April were down just under 15% from March which tells me that the investors are probably being a bit cautious, especially in town investors who are closer to the market than out of town investors.

What you pay for a home right now will not matter in 3 to 5 years as the market will be different then than now.  Whether the market falls another 3% to 8% just won’t matter in 3 years.  It comes back and has after every downturn.

As I’ve said before many times over the last 6 months, if you’re in the position to purchase now, it’s a great time to do it.

If you need help, we’re here to represent you with integrity.

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Tags: sacramento home sales, sacramento real estate, sacramento real estate statistics

This entry was posted on Thursday, May 7th, 2009 at 2:04 pm and is filed under Home Sales Reports. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Gena Riede said at May 11th, 2009 at 10:20 am

   Good article with accurate visual for the consumer. Yes, it is startling and I too, believe this to be a false bottom. Good advice for buyers to get busy and buy and with this false bottom a regular sell will have fewer distressed properties to compete against.

2. robsaxe said at May 11th, 2009 at 10:24 am

   Thank you Gena! Your input is always appreciated!

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