Shrinking Inventory, Strong Second Quarter Sales Fuel Optimism that Sacramento Home Market is Stabilizing

A shrinking inventory of bank-owned homes and median price increases between the first and second quarters of 2009 in six of 11 communities are among the emerging signs that Sacramento County’s resale housing market may be stabilizing, according to a report by the research division of Prudential California Realty based on an analysis of MLS data.

In Sacramento County, 4,934 existing single-family detached homes were sold during the second quarter, up just under 1 percent from the 4,920 homes sold during the same period of 2008 - the fifth consecutive quarter that sales have improved compared with the previous year. With the percentage of sales of bank foreclosures down from a peak of 75 percent to about 54 percent in June, homebuyers increasingly faced multiple offers on competitively priced properties. All-cash offers accounted for 25 percent of transactions in June. That and strong interest from first-time buyers and investors caused the average number of days a home was listed before sale to remain essentially unchanged at 63 days, up slightly from 61 days in the first quarter and 55 days a year ago.

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If you would like to know more specific information about the value of your home or are thinking about buying in Sacramento County, give us a call at 916.759.1699 or email us.

You can SEARCH MLS Listings In Sacramento County at your convenience. SIGN-UP for FREE MLS Listing Notifications and you will be emailed new listings that meet your specific criteria for properties for sale in all neighborhoods. This is a great way to stay informed of the hottest listings and have an edge on the competition because you’ll see Sacramento County listings before everyone else!

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First-Time Homebuyers and Investors Boost First Quarter 2009 Home Sales in Sacramento County

The Sacramento County real estate market continued to show some rays of hope during the first quarter of 2009 as falling interest rates, extremely favorable home prices and the introduction of new tax incentives for homebuyers fueled a 75 percent increase in sales of existing single-family detached homes compared with first quarter of 2008, according to a report by the research division of Prudential California Realty based on an analysis of MLS data.

In Sacramento County, 4,589 existing homes were sold during the first quarter, up from 2,619 sold during the same period of 2008 - the fourth consecutive quarter and twelfth consecutive month that sales have improved compared with the previous year. The strong sales results and a moratorium on new foreclosures generated at least a temporary reduction in the number of foreclosed and bank-owned properties on the market. As a result, the average time a home was on the market before sales dropped from 72 days a year ago to 61 days in the first quarter and multiple offers became commonplace among homes priced below $200,000.

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If you would like to know more specific information about the value of your home or are thinking about buying in Sacramento County, give us a call at 916.759.1699 or email us.

You can SEARCH MLS Listings In Sacramento County at your convenience. SIGN-UP for FREE MLS Listing Notifications and you will be emailed new listings that meet your specific criteria for properties for sale in all neighborhoods. This is a great way to stay informed of the hottest listings and have an edge on the competition because you’ll see Sacramento County listings before everyone else!

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Bargain Prices on Bank-Owned Properties Attract Buyers in 2008

Favorable interest rates and a large inventory of bargain-priced bank-owned properties brought Sacramento homebuyers back to the real estate market in growing numbers during the fourth quarter of 2008, fueling a second consecutive quarter of triple-digit year-over-year percentage increases in home sales, according to a report by the research division of Prudential California Realty based on a analysis of MLS data.

In Sacramento County, 5,365 homes were sold during the fourth quarter of 2008, a 138 percent increase from 2,259 homes sold during the same quarter of 2007. The Sacramento area’s fourth quarter performance follows a 141 percent year-over-year increase of sales in the third quarter of 2008. Local observers estimate that as many as 70 percent of the quarter’s closed home sales involved a bank-owed property. Click the image below to read this article in it’s entirety. 

If you would like to know more specific information about the value of your home or are thinking about buying in Sacramento County, give us a call at 916.434.6455 or email us.

You can SEARCH MLS Listings In Sacramento County at your convenience. SIGN-UP for FREE MLS Listing Notifications and you will be emailed new listings that meet your specific criteria for properties for sale in all neighborhoods. This is a great way to stay informed of the hottest listings and have an edge on the competition because you’ll see Sacramento County listings before everyone else! 

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