Wednesday, February 28, 2007

Location (Negative), Location (Negative), Location (Negative)

For the first time in the current housing bust, every reporting zip code in Sacramento County showed a price decline in January from year ago levels. The following graph shows the percentage of zip codes registering price drops based on the median price per sq. ft. of resale single-family detached homes. Click to enlarge.



Agent Bubble has been kind enough to provide average price per sq./ft. data for all residential MLS listings in Sacramento County (for January):

  • Change in price since last year: -9.9%
  • Change in price since 2005 peak: -12.0%
Meanwhile, the California Association of Realtors released their price and sales data for January 2007. The data is based on MLS single-family homes sales in the Sacramento region.
  • Change in median price since last January: -3.4%
  • 7th month of year-over-year (YoY) price declines
  • Change in median since price peak: -8.6% (down $34,110)
  • Change in homes sold since last January: -20.9%
  • 22nd month of YoY sales declines, 17th month of YoY double-digit declines
DataQuick's dqnews.com also has January's city/county numbers for combined sales (resale single family residences and condos as well as new homes). Yolo County continues to lead California in year-over-year price declines.
  • El Dorado: -6.81%
  • Placer: -9.01%
  • Sacramento: -6.25%
  • Yolo: -22.50%
January's DQ stats are archived here.

2 comments:

Gwynster said...
This comment has been removed by the author.
Gwynster said...

Max has some great graphs on his site. My favorite is the price per sqft >; )

Centex is building again in Woodland. Check out the $/sqft on these
http://www.centexhomes.com/Sacramento/375947_Plan.html

This is really going to pissed off KB which still need to build out quite a bit of it Artistry plan.

Two offices away from me is woman trying to sell her home in Woodland. She is none to happy because she can't compete with the new builders in price. She said something about picketing the sales offices for unfair competition to the local owners. I think she was kidding to let off steam but if she goes through with it, I'll be there with a camera!