El Dorado Hills - Homes & News - DeeDee Riley Realtor: Market Update for Sacramento Region - July 2009

Market Update for Sacramento Region - July 2009

Here is the newest press release for our Lyon Real Estate Trendgraphix that summarizes the statistics from the previous month.  This report is based on June 2009 sales and numbers. 

This month's Trendgraphix talks about our low inventory.  To go along with the press release and give you an idea of what is actually happening in the different price segments of homes I pulled statistics by county for four different prices levels.  I've charted them showing the sales and the average price per square foot average of those sales. These stats are for all single family home sales (including bank owned).  If you'd like to see what those statistics would look like for a particular zip code, email me at driley@golyon.com and I will be happy to pull those for you.

TRENDGRAPHIX MONTHLY REAL ESTATE REPORT

BROUGHT TO YOU BY

Lyon Real Estate

                                                                                                                            

3640 American River Drive, Suite 100, Sacramento, CA  95864

 F O R   I M M E D I A T E   R E L E A S E

July 13, 2009

CONTACT:  Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

  

Low Inventory Pushes Prices Up

 For the third month in a row, price per sq/ft, median and average prices have risen for homes priced below $750,000.00. With fewer than expected bank-owned properties hitting the market together with low interest rates, buyers are finding slim-pickings. The opposite is true above $750,000.00, where we have two years of inventory. The third month of increased prices should help appraisers establish a better base to value homes in the market.

TRENDGRAPHIX's latest report shows that sales increased 1 percent during the month of June for the Tri-County region of Sacramento, Placer and El Dorado Counties. June 2009 sales were 10 percent lower than June 2008 sales.  Pending sales increased by 12 percent from May to June 2009.

June 2009 inventory of 6,331 homes for sale is 43 percent lower than June 2008 inventory.  This is a 59 percent decrease for the regional inventory record high of 15,302 set in August 2007.   

 

 

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 3 percent from May to June 2009. Inventory decreased 2 percent during the month of June.  Pending sales increased by 12 percent in the month of June. 56 percent of the homes sold for under $200,000; 37 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000.  The average price per square foot increased by 3 percent during the month of June to $121.       

Placer County sales increased by 15 percent and inventory increased by 1 percent during the month of June 2009.  Pending sales increased by 11 percent from May to June. 12 percent of the homes sold for under $200,000; 64 percent of the homes sold for between $200,000 and $400,000; and 24 percent of the homes sold for over $400,000.  The average price per square foot increased 1 percent during the month of June at $154. 

El Dorado County showed an 11 percent increase in sales from May to June, and the inventory decreased by 1 percent from May to June.  Pending sales have increased 19 percent during the month of June.  16 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 41 percent of the homes sold for over $400,000.  The average price per square foot increased by 3 percent during the month of June to $159.       

Yolo County sales increased by 6 percent for June 2009 and the inventory increased by 2 percent.  Pending sales increased 8 percent during the month of June. 34 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 18 percent of the homes sold for over $400,000.  The average price per square foot decreased by 2 percent during the month of June to $162.

Nevada County sales have increased by 16 percent during the month of June, and inventory increased 1 percent.  Pending sales decreased by 3 percent. 3 percent of the homes sold for under $200,000; 38 percent of the homes sold for between $200,000 and $400,000; and 59 percent of the homes sold for over $400,000.  The average price per square foot decreased by 7 percent during the month of June at $182. 

San Joaquin County sales have increased by 6 percent during the month of June, and inventory decreased 7 percent from May to June.  Pending sales are up 17 percent. 49 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000.  The average price per square foot remained the same during the month of June at $93.

 

Chart of June sales for Sacramento Region Counties by Price Category

 

DeeDee

 

DeeDee Riley - El Dorado Hills Realtor - Lyon Real Estate - CABRE#01499004

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Comment balloon 2 commentsDeeDee Riley • July 23 2009 07:18PM

Comments

Low inventory usually means higher prices, but it seems weird that the prices aren't rising. But, I think that has a lot to do with foreclosures and short sales.
 

 Todd Clark - www.LivingBeaverton.com

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) almost 9 years ago

Hi Todd,

That is usually the case.  We are starting to see them rise gradually in the lower price ranges where there are multiple offers on homes but the higher price ranges are still inflated to some extent and with fewer buyers in those ranges are still expected to drop more.  I guess if you look at it, the inventory is low but so is the demand (being) the buyers in the upper ranges.

Thanks for your comment!

Posted by DeeDee Riley, Realtor - El Dorado Hills & the Surrounding Areas (Lyon Real Estate - El Dorado Hills CA) almost 9 years ago

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