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.

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