Saturday, February 03, 2007

Sacramento Regional Real Estate Trends for February 3, 2007

Not a lot of change to report this weekend. Four-county inventory grew to 12,821, keeping to the growth rate trend of January:


Ditto on the various price levels. There does seem to be a breakout at the $200-$300K level in both Yolo and Sacramento County:


As for the flippers, their misery grew again over last week:



(Side note: I had planned a "Flipper Squeeze" article for last week, but I had a much better idea for a feature that requires more data collection and time to put together. Stay tuned.)

Median and average asking prices remained fairly stable w-o-w, but the drops in price/sqft seem to be resuming after some fluctuations over the New Year:


At this point, this is probably due to the addition of more lower-priced houses to the MLS, rather than price reductions. The fact remains that the resale market is overpriced when compared to new house builders, who are almost universally priced below $200/sqft.

All-in-all, the overall market seems to be holding its breath until the Spring "Selling Season" begins. Barring some dramatic occurrence in the credit market, we might have to wait until it exhales (or turns blue) before we can draw any conclusions.

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