Sacramento Real Estate Statistics for 5 years

October 16th, 2006 categories: Real Estate, Sacramento, Sacramento County, Sacramento RE Stats

In order to understand, especially for those of us that are visual learners, it is important to see the numbers in direct comparison with each other. In the table below is a chart showing the Listing Inventory for August 2002, 2003, 2004, 2005 and 2006 for the Sacramento County area

MLS	2002	2003	2004	2005	2006
For Sale	5,383	5,558	6,075	7,135	6,293
Sold	1,665	1,890	2,217	2,052	1,186
Average Price	$245,708	$333,849	$336,423	$425,655	$411,560
% Change in Solds for Year	5.4%	-17.9%	23.0%	0.3%	-36.3%

As you can see by taking a look at the change in the % of listings versus Solds there is a -36.3%. Simply said very few of the 6,293 for sale homes actually sold in August.

The Supply and Demand theory once again shows its ugly head. Even in a good market, I would ask my Sellers to please take turns selling. There is nothing worse than driving down the street and seeing all those for sale signs. Buyers anxiously want to know what is wrong with the neighborhood.

If you have too much of a good thing the price goes down…it’s just common sense. If Sellers want to see a change in the market, I suggest that you start removing those signs, take turns on your street and let the people who are having difficulty paying their house payment, those getting a divorce and/or job transfers, sell first.

If you don’t have to sell in today’s market, my opinion is that you shouldn’t. Buying just to get a bigger house is just not a good reason in today’s market unless you can afford 2 house payments when yours doesn’t sell for a long period of time. If you have checked out the rental market and can rent your current home and buy another, then fine…it’s a great time for you.

This entry was posted on Monday, October 16th, 2006 at 10:42 pm and is filed under Real Estate, Sacramento, Sacramento County, Sacramento RE Stats. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.