Sacramento housing market ranks high in ZipRealty survey

Published: Thursday, Feb. 14, 2013 - 12:00 am | Page 6B
Last Modified: Friday, Feb. 15, 2013 - 8:32 pm

Sacramento's housing market is still climbing out of a deep hole, but by one measure it's the third hottest in the country.

ZipRealty Inc., an online brokerage in Emeryville, ranked 32 markets around the country on the ability of home sellers to get their asking price. Sacramento homes on average sold for 100.9 percent of the price at which they were listed, ZipRealty said Wednesday.

Only home sellers in San Francisco and San Diego did better in that regard, the firm said.

The findings represent further evidence that Sacramento's market is on the upswing after a terrible and lengthy slump.

DataQuick, for instance, reported last month that median sale prices in Sacramento County have risen 18 percent in the past year. The Gregory Group said new home sales in the region jumped 67 percent last year. Still, prices and sales activity remain well below the levels seen during the housing boom.

ZipRealty said Sacramento scored well in another respect: the amount of time a property stays on the market.

Homes in Sacramento spent a median 21 days on the market before getting sold last year. That was a 40 percent drop from 2011. Only three other markets saw more dramatic declines: Silicon Valley, Phoenix and Denver.

Meanwhile, RealtyTrac reported that foreclosure activity continues to fall significantly, in California and around the country.

January foreclosures dropped 28 percent across the United States, to their lowest levels since mid-2006.

In California, the foreclosure rate in January fell 65 percent from a year earlier.

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