Friday, April 28, 2006

Sacramento Reduced

A commenter recently asked about price reductions in the area. Zip Realty recently reported that over 35% of listings in Sacramento have been reduced. I believe that's the highest statistic I've seen since I started this blog in January. According to Zip Realty, the Sacramento real estate market ranks #2.

What are you seeing in your neighborhood? Add your observations by clicking on the "comments" link below. I especially want to encourage those locals who have not commented before to add their input.

9 comments:

Lander said...

Tip of the hat to the always excellent Bubble Markets Inventory Tracking blog.

Anonymous said...

Per Zip Realty, 38 out of 116, or just under 33% of the listings they have for zip code 91406, in the Van Nuys/San Fernando Valley section of Los Angeles, have had price reductions.

fishtaco said...

Quite a few "reduced" listing in the Davis Enterprise this Friday. One realtor in the Friday housing supplement mentioned in their add that there are over 200 listings for Davis and that this is the highest number in years. What does this mean for town with UC Davis? Who knows, I have given up trying to predict what housing will do in this town. I can say basically any property, be it investment or otherwise are no longer profitable. Sacramento would therefore appear to be a potential bloodbath.

Anonymous said...

What I find interesting is the number of real estate offices here in Loomis that have closed their doors. The commercial zone for Horseshoe Bar Road runs from HWY 80 to Taylor Road. Maybe a quarter mile in length. Six months ago there were four real estate offices. Now there is one. Certainly rather telling.

Anonymous said...

You can't help but notice reduced price signs all over town.
Some people pay attn . . others, like my wife, just go thru life with blinders on not noticing or caring about anything that doesnt smack em upside the head !
You can preach, rant, rave, lecture, coax, bully, etc but they will still just stare at you with cow eyes of incomprehension.
It's so like The Matrix - spooky Maddening!! ( but not John Maddening )

AQ

Lander said...

Anyone else seen signs of local consolidation in the real estate industry? I'm really interested in this topic. Back in March, I read that the Remax Central franchise merged with Remax Gold. Don't know if that had anything to do with bad market conditions or not.

Happy Renter said...

Craiglist hs 90 reductions in the sacramento area.

Garth Farkley said...

James in CA has per capita listings at '94 - '95 levels today.

Gwynster said...

Davis is up to 237 today per Zip Realty.
Many parents would buy a house here for their child while they attended UC for 4 yrs. Now those parents who bought in 02' are trying to sell. I think that is part of the spike we are seeing. From 02' to 06', they'll make a little money. The parent's who bought in 03 or later are the ones who'll really get hurt.