An expected seasonal drop-off in regional home sales was evident in January, but Sacramento County’s housing market saw double-digit year-over-year growth, according to Tuesday’s report by Irvine-based real estate market tracker CoreLogic.
Among countywide sales of all dwellings – including new and resale houses and condominiums – there were 1,567 closed escrows in January, down 27 percent from 2,141 in December but a 13.7 percent gain over 1,378 in January 2016.
“Sacramento County saw the usual, seasonal December-to-January decline in home sales, but the year-over-year sales gain was relatively high. The year-over-year gain in median price was also relatively strong,” said CoreLogic analyst Andrew LePage.
January’s resales – plus the 1,567 closed escrows on all homes – were the highest January totals in Sacramento County since 2013, LePage noted.
The median sales price among January’s resale transactions in Sacramento County was $290,000, a 3.2 percent dip from $299,500 in December but a gain of 9.2 percent over $265,500 in January 2016.
Sacramento County resale home prices remain well short of the record median of $374,000 from August 2005.
There were 163 new-home sales in Sacramento County in January, down 35.6 percent from 253 in December but up more than 26 percent from 129 in the year-ago period.
In the nine-county Bay Area, 4,849 new and resale houses and condominiums sold in January, down 31.4 percent from 7,068 in December and just slightly better than 4,839 in January 2016. The median sales price for all homes sold in the Bay Area in January was $630,000, down 5.3 percent from $665,000 in December 2016.
In the six-county Southern California region, 15,422 dwellings sold in January, down 24.6 percent from 20,458 in December 2016 but up 5.4 percent over 14,633 in January 2016. The January 2017 sales tally was the highest for a January since 2013.