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Median home price drops in Sacramento-area sales

Published: Friday, Jul. 15, 2011 - 12:00 am | Page 6B

The Sacramento region's housing market continued to sag in June as median prices for single-family homes declined in all major counties.

Figures released Thursday by San Diego-based DataQuick showed that the median price for a single-family home in Sacramento County was down 13.5 percent last month to $160,000 from the year-ago median of $185,000.

In El Dorado County, the median price for a single-family home fell 11.9 percent to $278,500, while Yolo County's median dropped 13.6 percent, to $230,000.

Placer County median home prices were down 5.4 percent to $267,000.

"For the most part we are in price stagnation," said Dataquick analyst Andrew LePage.

Median price means half the homes sold above and half below a given price.

Sales volumes in June remained relatively even with last year's levels, according to DataQuick.

A total of 1,909 single-family residences in Sacramento County cleared escrow last month, a 1.7 percent decline from June 2010.

The number of single-family homes sold in Placer County dropped 3.3 percent to 530, while sales volume in El Dorado County rose 9.4 percent to 257 homes.

The latest monthly statistics are skewed by sales activity during June 2010, which received a boost from expiring homebuyer tax credits.

But for much of the year, median home prices remained in a narrow range, indicating continued softness in the market.

For all of 2011, median home prices in Sacramento County hovered between $160,000 and $165,000, while Placer County home prices fell in the $250,000 to $268,000 range.

Home prices in El Dorado County experienced wider swings. They went from a low of $227,000 in February to last month's $278,000, a nine-month high.

"Volumes have held steady but I don't see that there's been a turn or dramatic change in the past quarter," LePage said.

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Call The Bee's Rick Daysog, (916) 321-1207.

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