Sacramento Housing Market Statistics

More DataQuick median price numbers for February via dqnews (and archived here):

• El Dorado: -1.34%
  
• Placer: -5.38%
  
• Sacramento: -6.98%
  
• Yolo: -10.00%
  

Data is for resale single-family residences and condos as well as new homes.

Since Placer County became the first California county to register a price decline back in January 2006, the 4-county region has largely dominated the California depreciation club. In February 2007, that distinction passed to Merced County, which registered a 14.67% decline.

Significantly, February was the first month in which all listed Central Valley counties chalked up year-over-year (yoy) price declines, with Kern County finally succumbing:

• Fresno: -6.33%
  
• Kern: -1.83%
  
• Madera: -5.27%
  
• Merced: -14.67%
  
• San Joaquin: -7.11%
  
• Stanislaus: -9.38%
  
• Tulare: -4.09%
  

Here are February results from the California Association of Realtors. This data is based on MLS single-family homes sales in the Sacramento region.

• Change in median price (yoy): -1.2% [8th month of yoy declines]
  
• Change in median price (from peak): -5.2%
  
• Change in homes sold (yoy): -17.5% [23rd month of yoy declines, 18th month of yoy double-digit declines]

Here are the Sacramento Association of Realtors (SAR) results for February. Figures are for MLS single-family home sales in Sacramento County and West Sacramento. Additional statistics are available here.

• Change in median price (yoy): -1.5% [8th month of yoy declines]
• Change in median price (from peak): -6.4%
• Change in homes sold (yoy): -14.7% [21st month of yoy declines, 18th month of double-digit declines]

The SAR sales graph has been updated. Click to enlarge.



Interestingly, in SAR's press release [pdf], the organization acknowledged the impact the sub-prime implosion is likely to have on the Sacramento housing market.

The Association of REALTORS® is aware that the widely publicized restructuring in the sub-prime lending market will likely have a dampening effect on real estate sales, at least in the short term. "Being entangled in risky loans and a declining market is clearly painful for lenders as well as mortgage borrowers,” said [SAR President Tracey] Saizan. "More disciplined lending policies will be good in the long run for home buyers and the mortgage bankers who serve them."

Given the mortgage meltdown, will sales peak in March as they did last year?

Want more? Julie Jalone has TrendGraphix's press release for February. Based on the press release and the information available at golyon.com, the average price per square foot in Sacramento County declined 5.0% from last year and 9.4% since peaking in September 2005. Pending sales dropped 8.5% from the prior year.