We analyze several housing market indicators in order to present an in-depth breakdown of Sacramento Homes Market comparing March 2009 to March 2010.
Summary of Key Points
Sacramento Homes for Sale has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster.Sellers received full asking price.
Key Statistics, Sacramento, CA: Median Sales Price (7.17%), Median Days on Market (-1.94%), and Number of Units Sold (-13.95%), Sales Price to List Price Ratio (Mar 09 98% – Mar 10 100%)
Sacramento Homes
The city of Sacramento experienced a 7.17% increase in median sales price from last year going up from $151,954 (March 09) to $162,846 (March 2010). Median days on market data for Sacramento show that houses are selling faster than March 09. It took 55 days in March 09 for a house to sell and for March 10 that number has gone down to 54 days (a 1.94% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 1075 units were sold compared to 925 for March 10 (-13.95% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Sacramento. SP/LP ratio for March 09 was 98% compared to 100% for March 10.
Let’s take a brief look at neighbors West Sacramento and Elk Grove. West Sacramento Homes featured a 10.93% increase in median sales price ($212,102 March 09 – $235,277 March 10) and Elk Grove Homes saw a 2.01% decrease ($247,668 March 09 – $242,695 March 10). Are houses in West Sacramento and Elk Grove selling faster or slower this year? Well, West Sacramento experienced a 4.64% increase (62 to 65 days) in median days on market and Elk Grove a 15.31% increase (52 to 60 days). In the units sold category, West Sacramento sold 5 units less (-7.46%) in March 2010 than 09 and Elk Grove sold 9 units more (3.56%) in March 2010 than March 09.
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