Wednesday, October 25, 2006

Sacramento Area Asking Price Trends





After many months of data collection and analysis work, I have finally compiled pricing trend graphs for the Sacramento Region. After today they will appear every week or so as part of my usual stats post.

Enjoy!

7 comments :

sippn said...

Nice information, but like another media source, The Bee, your overlay exagerates the price per foot drop vs price drops.

The percentages are similar so it would be more graphicly truthful to show the trend lines with similar slopes.

If you used the same form of measurement, say percentage, you would see.

Max said...

If you used the same form of measurement, say percentage, you would see.

Remember, these are asking prices. If I used a percentage, I would have to pick an arbitrary level and point in time to compare it to. Similarly, the percent week-over-week change is usually so small that you wouldn’t see much of a trend.

My goal here is not to deceive people with statistics, and readers of this blog are savvy enough to interpret the graphs correctly.

JR said...

Max,

This is great analysis. While Sippin' wants to focus on the messenger, the rest of us are getting the message. And the message is that prices are DROPPING BY ALL MEASURES (all caps just for FUN).

Just think, in 2007 we can start attending the auctions and we will begin to see even steeper declines.

A friend of mine just rebid a house he is building, as it came in over budget 4 months ago and he did not proceed. The new cost was down 22%. We are going to get back to fundamentals in a year or two, then we can breath a little easier.

sippn said...

No, no, no, I'm not thinking about you eggheads, just some of the less gifted like me. I look at the charts and I think, geez, the price per foot is falling like a rock...when its actually falling at the same rate (El Dorado Co) of about 8% as average prices. I'm just lazy and don't want to analyze the numbers to figure it out....rather drink.

Max said...

I'm just lazy and don't want to analyze the numbers to figure it out....rather drink.

You seem to understand it just fine, even for someone "less gifted". Give the people some credit.

Besides, some things make more sense after you've had a few. Like statistics... or the opposite sex. :)

Anonymous said...

The average and median asking prices are about 20 to 30% over true market value.

Got look back to prices were before the bulk of the bubble inflation like in 03. Houses were in the $150-200 / s.f. range.

Anonymous said...

It will be nice if you can break down the price by price band widths like below $300K, $300-$450K, $450K-$500K and $600K and above or by the house size i.e. up to 1500 sq.ft, 1500-2000sq.ft, 2000-2500, 2500-3000 and 3000 sq.ft and above.

I have been looking for 3000+ sq.ft house in Fair Oaks, Roseville and Granite Bay for last 1 yr. Prices are falling a lot esp in Roseville for 3000+ sq.ft homes.