Sacramento Market Down but Not Out

Posted Dec 5, 2007 @ 1:27 pm, Viewed by 210 Visitors, Read 211 Times.
 There are a number of local sites that do a good job of reporting the monthly real estate statistics for the Sacramento real estate market. This month I am looking at Sacramento Real Estate Statistics where the author just posted some November numbers for our area. The comparisons below are pretty ugly but I caution readers to remember that we have a strong and diverse local economy and our real estate market will improve. 
            Average $/SF                            Median $/SF    
            2006 - $234                               2006 - $226
            2007 - $198                               2007 - $187
 
            Average Sales Price                  Median Sales Price
            2006 - $419,543                         2006 - $375,000
            2007 - $360,271                         2007 - $320,000
 
In addition the site includes a chart showing the number of closing in the four county Sacramento area. In September there were 1,287 closings compared to 1,386 in October and 1,158 in November. Looking at November for the past two years reveals in 2005 there were 2,172 and in 2006 there were 1,710 closings. The 1,158 for this November clearly demonstrates the doldrums the market is currently in.
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jjalone

jjalone My name is Julie Jalone an I am a mother, wife and Realtor in the Sacramento area serving buyers and sellers of residential real estate. Read More

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