Monday, October 19, 2009

The overall Sacramento real estate market

SACRAMENTO CA area home sales decreased 4 percent in September compared to a month ago. But bargain priced homes and lower interest rates attracted homebuyers in recent weeks, with pending sales increasing 9 percent.
The available homes on the market in the SACRAMENTO CA area declined to 5276 in September, a 52 percent drop from a year ago and a 62 percent drop from the record high in August 2007. That is making it tough for home buyers but it is giving property owners hope that prices will increase.
The median price in SACRAMENTO COUNTY is at $180,000.0 in September. A 3.7 percent decline from August. That is still higher than the February median home price of 168,700.00
Many of the zip codes in the SACRAMENTO area for homes below the 200k price have just a three month supply of homes for sale. I can tell you that in the past week I have sent in four offers on newly listed homes and each home had multiple offers and someone else had bid higher than my offer.

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