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Sacramento Housing Market
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Lyon Real Estate
Fair Oaks East Office
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34% Sales Spike in March - April 13th, 2010
TRENDGRAPHIX’s latest report shows that closed sales increased 34% during
the month of March for the Tri-County region of Sacramento, Placer and El
Dorado Counties; representing a 6% decrease in sales compared to March
2009. The recent surge was accompanied by a 51% increase in pending sales
since last month. “This abnormal spike in sales can be credited directly
to three basic factors: a shortage of inventory, a rush to utilize the soon-to expire
federal home purchase tax deduction and interest rates remaining in
the low 5% range,” stated Michael Lyon, CEO, Lyon Real Estate. “In
addition, the State of California is launching its new 2010 New Home Credit
and First-Time Buyer Credit beginning May 1st of this year. With inventory
remaining low and interest rates holding, expect April to be as hot as March
was.”
March 2010 inventory of 6,551 homes for sale is 31 percent lower than
March 2009 inventory. This is a 57% decrease for the regional inventory
record high of 15,302 set in August 2007.
COUNTY HIGHS AND LOWS
Sacramento County sales increased 34 percent from February to
March 2010. Inventory increased 6 percent during the month of March.
Pending sales increased by 53 percent in the month of March. 57 percent of
the homes sold for under $200,000; 37 percent of the homes sold for
between $200,000 and $400,000; and 6 percent of the homes sold for over
$400,000. The average price per square foot increased 2 percent during the
month of March to $122.
Below are the current Sacramento Housing Statistics showing:
The amount of homes for sale
The average price per square foot
The average price of homes being sold
For more detailed graphs by zip code, price range, or housing type, contact me and I will send you a customized monthly update. ---
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