Interesting Sacramento Market Statistics for First Two Weeks of August
August 16th, 2008 Categories: My Stories, Real Estate Trends, Sacramento RE Stats, Sacramento Real Estate, Sacramento Sellers, Shortsales
New listings are finally outpacing pending sales. In the tri-county area (Sacramento, Placer, El Dorado) it looks like the summer flurry is already subsiding- the total available homes on the market is now building again.
A good thing for many eager buyers who had been out-bid on homes that had seen multiple offers… Many first time buyers who are relying on down payment assistance and or other first time programs have had a hard time competing with stronger offers… We have been working with several buyers who have written scores of offers (one couple has written over 15 offers) and been outbid each time- they are finally in contract!
Check out the numbers
| Active: 2207 | Pending: 1846 | Sold: 893 | Other: 0 | Total: 4946 |
| Bedrooms | Bathrooms | Square Feet | List Price | Selling Price | Days on Market | |
| Minimum | 0 | 0.00 | 90 | $22,900 | $28,500 | 0 |
| Average | 3 | 0.00 | 1,806 | $283,188 | $276,468 | 37 |
| Median | 3 | 2.00 | 1,575 | $232,900 | $247,000 | 12 |
| Maximum | 7 | 0.00 | 10,500 | $3,600,000 | $3,500,000 | 518 |
| Total Dollar Value | $246,886,155 |
| Average DOM Breakdown and Average % of List Price received on Solds by Market time: |
| 0-30 Days | 31-60 Days | 61-90 Days | 91-120 Days | 120+ Days | |
| No. of Listings | 488 | 124 | 76 | 86 | 119 |
| Breakdown % | 54.65 | 13.89 | 8.51 | 9.63 | 13.33 |
| Avg SP % LP | 100.96 | 97.19 | 96.18 | 94.45 | 94.25 |
It’s amazing how different our local markets are from one another, though, for instance, in Folsom, there are only 23 bank owned homes on the market in the whole zip code… As of 2007, the State of California’s estimate of Folsom’s population is 70,835. the market is amazingly stable and predictable.
In Elk Grove, there are 245 bank owned homes!! In a town that the State’s estimates place the population at 136,318. Not so stable… it’s two totally different markets, just a few miles from one another…
