Sacramento Real Estate Market Update: What should an investor expect!
May 25, 2010 Real Estate Statistics
I thought it would be good to check-in and see where the Sacramento Real Estate Market has done since the first of the year!
Our biggest problem as Investors so far in 2010 has been our inventory levels! There are just not enough Sacramento homes and investment properties to go around! The banks have wised up to just dumping their foreclosed inventory on the market which caused prices to drop too quick. They have slowed their pace and take their time to get these home on the market. In the meantime, Investors are going head to head with First Time Home Buyers for the small amount of homes available.
Let’s look at specific Sacramento County Real Estate Market statistics as of this past week:
Median Price: $211,605
Most Expensive Listing: $ 4,495,000
Asking Price per Square Foot: $126
Average Days on Market: 74
Total Inventory: 7,191
Percent of Properties with Price Decrease: 34%
Percent Relisted (reset DOM): 9%
Percent Flip (price increased): 8%
New Listings: 645
Median Age: 30
Home prices in Sacramento County, CA have stayed relatively stable in recent weeks. I have broke down these numbers above, so you can see how each area within Sacramento is doing.
These graphs reflect the last 90 days and compare the current median price for single family homes only.
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Are you monitoring the Sacramento Real Estate Market because you want to invest here?
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If you would like to be PRE-APPROVED for your next home or investment property purchase, please give Todd a call at (916) 687-6868 or send him an email at todd@superiorloanteam.com!
We would love the opportunity to help you navigate our Sacramento Real Estate Market!
