We analyzed 19 major cities in the Sacramento Market. Sales of November 2009 were compared to November 2008
Median Price Change in Home Prices
The Sacramento housing market has taken a huge hit in the Median Prices of homes since last November. 15 out of 19 analyzed cities, easily more than majority, experienced a decline in house values. The only four cities that experienced a positive change in house value are Sacramento Ca Homes for Sale (10.80%), North Highlands Homes (4.06%), Fair Oaks Homes (1.89%), and Carmichael Homes (1.47%). The decline in house value ranged anywhere from -0.19% for Davis Homes to -15.87% for Citrus Heights Homes. In addition to Citrus Heights other big losers are Orangevale Homes (-15.44%), Rancho Cordova Homes (-11.31%), and West Sacramento Ca Homes for Sale (-11.15%).
Median Days on Market
The Median Days on Market increased in majority of the cities surveyed ,unlike other markets in the Bay Area. A majority of the cities (12/17) experienced a rise in the amount of days on the market compared to November 2008. The cities with the most dramatic change in Median Days on Market are Orangevale Homes (146.58% - from 34 days in Nov 2008 to 83 days Nov 2009), Carmichael Homes (55.19%), North Highlands Homes (50.85%), and Rocklin Homes (49.86%). Among those that experienced a change for the better, the most notable cities are, Galt Homes (-50.76% - from 55 days in Nov 2009 to 27 days Nov 2009), Woodland Homes (-23.87%), Davis Ca Homes for Sale ( -22.19%), and Fair Oaks Homes ( -21.88%).
Overall the homes sold last year in November 2008 were 2028 homes as compared to 1777 homes this year in November 2009. It is pretty evident from all the data, including homes sold, that the Sacramento Housing Market has not yet recovered as fast as some other markets in the Bay Area.
Where have the Bank Foreclosures gone?
Itís a fact that Bank Owned listings/ homes are few to find. Everybody is scratching their heads to figure this one out. We have numbers in our report to show that Bank Foreclosures have dropped as compared to same time last year. But since the sale of homes was quite comparable to last year, where did the difference come from? It most likely includes property flippers, short sales and regular sales by sellers. It is difficult to pinpoint the breakdown of this one. However, we do have changes in Bank REO homes, 16 of the 19 cities had decreased Bank Foreclosure and 15 of the 16 cities had double digit decreases. Major decreases in Bank Owned properties are seen in Fair Oaks Homes (-73.21%), Rocklin Homes (-62.67%), North Highlands Homes (-58.92%), and Roseville Homes (-49.80%).
Number of Months Inventory
The greatest inventory is seen in Auburn Homes (11.87 Months), Lincoln Homes (8.91 Months), Galt Homes (8.90 Months), and Antelope Homes (8.57 Months). The lowest inventory is in Davis Ca Homes for Sale (4.44 Months), Rocklin Homes (4.93 Months), West Sacramento Ca Homes for Sale (5.43 Months), and North Highlands Homes (5.48 Months).