Sacramento home prices rose in February amid a scarcity of listings, DataQuick and the Sacramento Association of Realtors reported this week.
In Sacramento County, the median price of resale single-family homes jumped from $230,000 in January to $245,000 in February, DataQuick said Thursday. The county’s median home price in February 2013 was $190,000, the San Diego-based real estate information firm said.
Part of the increase is the mix of homes sold. More move-up buyers bought higher-priced homes last month while sales of lower-priced homes shrank, DataQuick said. It also reflects demand outstripping supply and pushing up prices, the firm said.
There is only a two-month supply of homes for sale in Sacramento County, the Realtors’ group said Wednesday. That indicates a seller’s market.
– Hudson Sangree