Sacramento Homes Market Comparison Report (February 2009 Vs February 2010)

We analyze several housing market indicators in order to present an in-depth breakdown of Sacramento Homes Market comparing February 2009 to February 2010.
Summary of Key Points
Sacramento Homes has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster. Number of units sold did drop as compared to last year. However this is a combination of factors such as increased decision time on short sales,by lenders and reduced Bank REO supply.
Key Statistics, Sacramento, CA: Median Sales Price (10.73%), Median Days on Market (-8.38%), and Number of Units Sold (-32.60%), Sales Price to List Price Ratio (Feb 09 99% – Feb 10 101%)
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The city of Sacramento experienced a 10.73% increase in median sales price from last year going up from $147,625 (Feb. 09) to $163,467 (Feb. 2010). Median days on market data for Sacramento shows that houses are selling faster than Feb 09. It took 52 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 48 days (a 8.38% improvement). Another important factor to consider is How Long Is The Process Of Buying A House total number of units sold. In the month of Feb 09, 954 units were sold compared to 643 for Feb 10 (-14.97% change).Interpreted reasons for this drop are explained in the summary above. Lastly we are going to take a look at the Sales Price to List Price Ratio for Sacramento. SP/LP ratio for Feb 09 was 99% compared to 101% for Feb sellers actually received more than asking price in February 2010
Let’s take a brief look at neighbors West Sacramento and Elk Grove. West Sacramento Homes featured a 8.95% increase in median sales price ($198,430 Feb 09 – $216,195 Feb 10) and Elk Grove Homes saw a 0.70% decrease ($249,175 Feb 09 – $247,429 Feb 10). Are houses in West Sacramento and Elk Grove selling faster or slower this year? Well, West Sacramento experienced a 27.72% increase (45 to 57 days) in median days on market and Elk Grove saw a 16.93% increase (47 to 55 days). In the units sold category, West Sacramento sold 3 units more (6.00%) in Feb 2010 than 09 and Elk Grove sold 89 units less (-36.78%) in Feb 2010 than Feb 09.
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