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

December 17, 2009
Sac County home prices post first Y-O-Y gain since May 2006
 For the first time since May 2006 Sacramento County median home sales prices - for resale homes - have climbed above the same time a year earlier, property researcher MDA DataQuick reported Thursday.
The Sacramento County median price was $177,000 - up slightly from $175,000 in Nov. 2008, the firm said.
Sacramento County is the largest sector of the region's real estate market, and its existing homes represented nearly nine in 10 of its November sales.

 DataQuick, which noted similar trends in the Los Angeles region and the Bay Area, said the phenomenon reflects "widening price stability, fewer foreclosures selling and more activity in pricier areas."

Sales of bank repos now represent 49.3 percent of Sacramento County sales. In Nov. 2008 thousands of heavily-discounted repos snatched up by first-time buyers and investors accounted for 69.1 percent of sales.

November regional highlights for new and existing homes combined in the capital region:
  • Sacramento County: 21,900 sales with a median price of $175,000. That price is down 5.4 percent from November 2008.
  • Placer County: 549 sales with a median price of $305,000. Prices are down 11.5 percent from the same time last year.
  • Yolo County: 187 sales with a median price of $246,000. It's down 3.3 percent from November 2008.
  • El Dorado County: 201 sales at a median price of $289,000. Prices are 13.7 percent lower than the same time last year.
  • Yuba County: 93 sales with a median price of $162,250. It's down 0.5 percent from a year earlier.
  • Nevada County: 125 sales with a median price of $330,000. That's 4.8 percent less than November 2008.
  • Sutter County: 84 sales with a median price of $160,000. Prices are down 5.9 percent from November 2008.
  • Amador County: 44 sales at a median price of $176,000. That's down 21.1 percent from November 2008.

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