|
|
|
Sacramento Real Estate As Well As Can Be Expected
oming off of the year we down 4.8 percent from last year
went from a super heated to 4,926. The median price paid
market to stone cold the in January is virtually the same
big question in real estate as December but down 3.5 percent
circles is how the Sacramento from 2005 to $355,000. If you
market will perform in 2007. The want to look at all the data it
Sacramento Bee’s story this is available here.
morning by Jim Wasserman, “Hope
seen on home front,” details the In Placer County the MLS data for
slowing of price declines in single family homes shows the
January. There are others who same pattern as Sacramento
don’t have as much hope for the County. There were 826 new
market and continue to pound the listings in Placer County during
collapse mantle by pointing out January. This is more than twice
the increase in foreclosure the amount as reported in
activity as the tool of doom. December but up only 48 listings
from last January. Inventory was
Looking at MLS data released up 3.4 percent to 2,178, from
earlier this week by the December and up 17.5 percent from
Sacramento Association of a year ago. During January there
Realtors (SAR) showed new were 211 closed transactions
listings in January up over 75 accounting for a median price of
percent from December and an $430,000. This is a 30 percent
almost 20 percent growth in decline in month-over-month
inventory. This is normal and closings and 2.2 percent decline
expected as we move out of the in the median price paid.
holiday season and end of year Compared to a year ago the
rush. Compared to January 2005 current closings are down almost
there were less new listings (2.9 14 percent and the median price
percent) and current inventory is paid is off 6.9 percent. The
above MLS data is available on increase in listings this year
the Placer County Association of when compared to last year, with
Realtors website, PCAR or can be 236 homes reported as available
downloaded here. for sale. Unlike most areas the
median price paid in January for
A quick review of some of the a home in Rocklin was up compared
communities in Placer County to last year. The Placer County
shows some interesting numbers Association of Realtors reports a
and leads to a question regarding median price increase of $20,000
the quality of reported values to $445,000.
when looking at small samples.
The median price in Granite Bay
In Roseville we had lower also showed an increase compared
year-over-year sales in January to last year. The January MLS
compared to last year, higher data reported a median price of
pending and an increase in $802,500 compared to $705,000 a
available inventory. There were year ago. Remember these numbers
73 homes sold in Roseville during are computed on a small number of
January with a median price of sales and can be misleading. In
$415,000. This is decline from January of this year there were
last year’s January median of 18 sales compared to only 11 last
$432,500. year.
Rocklin MLS data shows a modest Many pundits argue that real
increase in sales this January estate is local and looking at
compared to last year. The trend National, State or even County or
continues when looking at pending City results can’t be used when
sales which is reported up 3 doing analysis on a neighborhood
sales to 52 compared to last or single property. The reports
year. There is also a small for small communities and zip
codes often do not have a the year. This compares to MLS
sufficiently large enough data median price paid in
sampling to make accurate December of $430,000. The
statements about pricing trends. Zindex value was down 5.11
The home value site, Zillow has percent quarter-over-quarter and
developed a home valuation index off by 5.97 percent from last
they call Zindex in an effort to year.
set a median value on all homes
in a given geographic area not Going down to the community level
just the homes that were sold and looking at my example above,
during the period. Granite Bay, we find MLS data on
11 sales in December 2006 yielded
Regardless of what you think a median price of $705,000. The
about Zillow, their Zestimates it Zillow Zindex reports a Granite
is an interesting concept and Bay valuation of $703,382.
worth looking at.
Based on this cursory review it
In Sacramento County where we would appear that although the
just learned the median price numbers come different methods
paid for a home in December was the MLS data and median price
$355,000 the Zindex for the same determined by the homes sold
area at the end of the year was during the period is not
$357,148. By the way this is inconsistent with the Zillow
down from $371,148 reported at valuation method. This is
the end of the third quarter of something that clearly requires
2006 and down 6.74 percent from additional examination and
the previous year. watching. If you are interested
in looking at the full Zillow
The reported Zindex for Placer report on the Sacramento area it
County was $460,466 at the end of is available for download on
their site. of sales activity will be
impacted by the weather. If we
Based on all of the above it does continue to have some dry days we
appear that prices in Greater could see a nice increase in
Sacramento area are beginning to sales. If on the other hand it
stabilize. Inventory is, as starts to rain and continues like
expected, increasing as we leave it did last year, it may be late
the holidays behind and head into March or early April before the
the spring selling season. The buyers come out to look. January
sales activity is still anemic looks much like some of us
but reports from agents I have expected, but it is clearly too
come in contact with over the early to set the tone for what we
past few weeks indicate things will see all year long.
are picking up. The next 60 days
About the Author:
Julie Jalone is an experienced professional Realtor® serving the need of buyers and sellers of residential real estate in the Greater Sacramento area including Placer and El Dorado counties. Some of the communities served by Julie include Sacramento, Roseville, Rocklin, Lincoln, Loomis and Granite Bay. Julie is a wife and mother living in Rocklin. To learn more about Julie, visit her website, http://www.jalone.com, which includes current listings, home search, news, resources for buyers and sellers and her daily blog, "Keep it Real in Sacramento."
Read more articles by: Julie Jalone
Article Source: www.iSnare.com |
|
