Home Front

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

April 15, 2010
March home sales climb dramatically in Sacramento region

March saw a spring burst in Sacramento-area home sales, as 3,431 new and existing houses closed escrow, researcher MDA DataQuick reported Thursday.

Here are the numbers in eight area counties.

 Sales climbed dramatically from February's 2,464 count, and outpaced the same time last year in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties. It was the region's first year-over-year sales gain in eight months.

Median sales prices also continued to steady for existing homes. Three area counties - Placer, Sacramento and Yolo - showed higher prices than March 2009.

Sacramento County's $175,000 median was 9.4 percent higher than the same time last year. Yolo County's $240,000 median was 9.1 percent higher than March 2009.

Placer County's $287,000 median price was up 1.4 percent from the same time last year. Median is that point where half of homes cost more and half cost less.

Analysts suggested the gains will continue into April. Michael Lyon, head of Sacramento-based Lyon Real Estate, credited a rush to claim a soon-expiring $8,000 federal tax credit, largely flat prices and still-low interest rates. Rates averaged 5.07 this week nationally before points for 30-year fixed mortgages, Freddie Mac reported Thursday. That was down from 5.21 percent last week.

DataQuick said Thursday that new homes represented 7.7 percent of March escrow closings across the region.


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