Saturday, September 09, 2006

Sacramento Area Real Estate Market Data for September 9, 2006

The four county region added around 150 new listings to the MLS this week, breaking (slightly) out of the declining trend of the last four weeks:


But the real story was the continued reduction in market activity. Pending sales dove to a record low of 5.3% of market inventory:


Flippers continued to lower their profit expectations this week as listing prices bunched up against the 0-25% profit mark:



I have a feeling there is more happening than meets the eye in that range, so next week I’ll break it out a little better.

An interesting trend has begun to emerge on the price-level inventory front. It appears that inventory levels in the lower price ranges are starting to rise after a long period of stagnation. There are now almost 1,000 houses priced at or below $200,000 in Sacramento County, and over 2,000 houses between $200K and $300K. This rise has been accompanied by a drop in both the $350K - $400K and $400K - $450K ranges:





Flipper trends remained constant, with overall flipper market share slowly dropping as those who remain in the market decline into loss:




1 comment :

JR said...

"Holy foreclosures, Batman, this market is taking a punch to the midsection." Even the superheroes can't help us now. Clearly, the fact we are unrealistically overvalued is driving the market reality now.

Very interesting, Max and A.B. This information is so helpful in guiding my strategy.