Sacramento Real Estate Views

Home Sales Report – Sacramento – June 2009

Average Sales Price Gets a Boost!

As far as sales prices go, this has been a good year for the City of Sacramento.  Most months of this year have seen an increase in sales prices since January.

The active listings in the City are a bit higher priced (as if that’s anything new!) than they should be to continue the sales pace of March and April but that said, sales seem to be moving along.

The average home for sale in Sacramento looks like this:

Beds & Baths: 3 / 2

Square Feet: 1704

Current List Price: $290,571 ; Days on the Market: 100

The current list price is significantly higher than the sold price but there are more short sales on the market then there have been. Short sales tend to be listed for a higher price and sell for more than bank owned foreclosures due to condition.

Homes Sold In Sacramento

In June, 1018 homes have sold up from 1016 homes sold in May.  Both March and April sales numbers were higher but there were more homes to sell.  In the 3 county area, Placer, Sacramento and El Dorado Counties, there are 6217 homes available for sale.

The number of homes for sale hasn’t increased dramatically as has been anticipated for months now due to homes being foreclosed on and not put on the market for sale otherwise known as the “shadow inventory”.  What will happen to these homes is still not known.  There is a lot of speculation but nothing concrete has materialized.

Sacramento Homes Average Sales Price

There has been a boost in average sales price this year, that is a good thing about there not being a large inventory to choose from.  Simple economics.  Where there is a dwindling supply and demand, prices increase.

So far this year, we’ve seen the average sales price increase 9.3% since January.  The average sales price in January was $157,221 increasing to $173,433 in June.

I suspect this will continue for the rest of the year depending on the amount of homes available for sale .  Will it continue to increase at this pace?  Probably not but any increase is better than a decrease.

While the type, size and characteristic of home will change from month to month, this is a significant increase over a six month span of time especially considering the we’re in the worst economic recessionary period in our countries history.

Looking buy or sell a home or investment property in the Sacramento region?  Values haven’t been this good in years for buyers and with a lack of homes to sell, there are a lot of buyers out there for those looking to sell.  Please call me for all your real estate needs.

Thanks for visiting!

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Tags: homes for sale sacramento

This entry was posted on Monday, July 13th, 2009 at 12:25 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.

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