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A blog about the economy and the Sacramento-area real estate market.

May 21, 2009
Median sales prices finally stabilizing in capital region

Friday update: Here is the complete story in today's Bee.

We aren't going to go too far out on a limb here, but the new MDA DataQuick numbers released for Sacramento about 90 minutes ago show that sales prices may be reaching a low plateau in the region. Prices are roughly the same now for four months in Sacramento County.

Here is a first online version of the April sales story.

And here is a detailed look at sales and pricing by capital-area  ZIP Codes.

Highlights of DataQuick's April statistics for new and existing homes combined:

-- Sacramento County: 2,184 sales at a median price of $165,000, down 28.9 percent from April 2008.

(It should be mentioned here what DataQuick says about these extremely low median prices: "The decline in the median price - that point where half of the homes sold for more and half for less - overstates the decline in the value of the typical home, given that so many of today's sales involve a discounted foreclosure in a erlatively affordable neighborhood.)"

-- Placer County: 478 sales at a median of $295,000, down 16.2 percent from the same time last year.

-- Yolo County: 213 sales with a median price of $242,000, down 21.6 percent from April 2008.

-- El Dorado County: 161 sales at a median price of $313,000, down 17.4 percent from the same time last year.

-- Yuba County: 107 sales with a median price of $156,500, down 21.6 percent from a year earlier.

-- Nevada County: 107 sales with a median price of $322,500, down 25 percent in the past year.

-- Sutter County: 105 sales with a median price of $170,000, down 23.3 percent from April 2008.

-- Amador County: 20 sales at a median price of $180,000, down 34.5 percent from April 2008.

New homes represented just 9.6 percent of closed escrows in the region in April, DataQuick reported. Four years ago, new home sales represented 24.5 percent of closed escrows.

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