Saturday, January 06, 2007

Sacramento Regional Real Estate Trends for January 6, 2007

Good day, and welcome to 2007! Market inventory has yet to recover from last month's steep fall-off:

Week-over-week inventory is still down since it includes the massive end of the year expiration drop, but I anticipate a big rebound next week. (The day-over-day increase of 61 listings for Sacramento County today was the largest since a 116 jump on August 12.)

Asking prices are already moving back to trend:

In fact, the $350K median asking price in Sacramento didn't even budge as inventory levels fell. Anybody care to bet on when we’ll see a $330K median?

The drop in overall market asking price is explained by looking at the inventory by price level:

As you can see, since April 9th, there's been a 33% increase in the number of houses selling for between $200K and $300K, while the price ranges above $300K have all seen inventory decreases. This is also reflected in the number of reduced listings.

Flippers continue to hold their heads above water, except in Sacramento County:

Placer and Sacramento flipper market trends will return next week, since I'm working on something you guys will find way more interesting…


Anonymous said...

Great analysis, but the cheapest isn't aways the best buy.. .. they're all pretty close and way discounted.

These neighborhoods will all have different lot sizes, different finishes.

There is always someone who wants the absolute cheapest box to live in (or drive - Le Car) and those who will see value in a little more lot space, more volume inside...etc.

Anonymous said...

Whoops...this should have been in the Lincoln Xing comments