Monday, October 08, 2007

Sacramento Regional Real Estate Trends for October 6, 2007

The only real stat story continues to be the market stress indicators. As Agent Bubble recently pointed out, one out of every three listings in the four county Sacramento area is labeled as some form of "distressed". This is born out in the hard data as well, with nearly one out of four houses for sale in Sac County (and about one in five for the four-county area) actually selling for less than it sold for last time:






The rest of the data shows the typical Fall pattern taking place (albeit at a slower pace than previous years.) (Note: there is a slight 1.9% difference between mine and AB's inventory number. This is most likely due to the different data sources he and use being slightly out of sync in time.)





7 comments :

Bubble Sitter said...

I noticed in the Sac Bee sales records last Sunday, only 2 homes for over $1 million sold in the whole four county area.

I predict those price levels will start seeing some drops in sales activity and some drops in prices.

El Dorado SITs will begin increasing.

2 homes at $1 million and up sold in one week. That could mean a 3 or 4 year supply on the market. That will be the next trend to watch: Massacre of the million plus home sellers.

smf said...

"2 homes at $1 million and up sold in one week. That could mean a 3 or 4 year supply on the market. That will be the next trend to watch: Massacre of the million plus home sellers."

That doesn't reflect the fact that in EDH there are more homes at less than a million, since they dropped prices to try to get a buyer.

Terracina used to have plenty of houses wishing for a million. Now there are none. They haven't sold, they just dropped the price.

AgentBubble said...

$1,000,000 + Stats:

4 County Area:

Active - 775
Sold in last 30 days - 24
Total Month's Inventory - 32

Yolo
Active - 27
Sold in last 30 days - 4
Total Month's Inventory - 7

Sacramento
Active - 237
Sold in last 30 days - 6
Total Month's Inventory - 39

El Dorado
Active - 188
Sold in last 30 days - 4
Total Month's Inventory - 47

Placer
Active - 323
Sold in last 10 days - 10
Total Month's Inventory - 32

smf said...

AB, a simple quote comes to mind:

'Houston, we have a problem'

Gwynster said...

Only 27 in Yolo? I could have sworn there were a lot more. Maybe people are just pulling them off the market or dropping the prices.

Gwynster said...

Did anyone see the WSJ article on MFR forclosures? Remember when holding a 8 unit building was the height of smart RE investing? ouch.

Renters are traditionally the first the react to housing inflation but we're seeing it in the 2nd and 3rd inning. As Twain said "History doesn't repeat but it often rhymes".

DrDoom said...

from up north at seattlebubble they pointed to a Wall Street Journal article today that gives numbers for 2004,05,06 on high rate loans. The intereactive can get you Sacramento details.

Also over at papereconomy.com you can get graphs of OFHEO and Case-Shiller data house price indices. There is no Case-Shiller for Sacramento but there is for San Francisco and it has a futures market. Interesting to look at futures in 2008 for San Francisco.