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Home Front

A blog about the economy and the Sacramento-area real estate market.

January 20, 2009
Capital-area home sales: 7,763 more in 2008 than previous year
MDA DataQuick reported its December numbers today, giving us an overall look at a resurgent 2008 for home sales. It showed 41,030 sales of new and existing homes - nearly 8,000 more than 2007.  It's the first year since 2005 to see sales rise instead of fall - and discounted foreclosure properties, as you might expect, explain it all.

An early online story had the first draft of the story. A more complete look back at 2008 appears in tomorrow's Bee.

Here's a summary by county for new and existing homes combined:

  •  Sacramento County, the largest sector of the region's real estate market, counted 2,485 sales - the best December in three years - as its $176,000 median price fell 37 percent for the year to a low not seen since May 2001. Analysts say that low largely reflects foreclosure prices, which accounted in December for 70 percent of sales, according to the Sacramento Association of Realtors. Median is that point where half cost more and half less. Sacramento County's median price peaked at $387,000 in Aug. 2005.
  •   Placer County saw 546 sales as median prices fell to $317,250. That's down 15 percent for the year and the lowest median since March 2003. Prices peaked at $525,500 in Dec. 2005.
  •  El Dorado County had 160 closings and a median price of $330,000, down 24.5 percent from Dec. 2007. Its median price peaked in March 2006 at $531,250.
  • Yolo County reported 231 sales and a median price of $281,500, down 14.8 percent from Dec. 2007. The county's median price peaked in Nov. 2005 at $474,000.
  • Sutter County tallied 115 sales and a median price of $173,500, down 30.7 percent from the same time a year earlier. Sutter County median prices crested at $339,000 in Dec. 2005.
  •  Yuba County had 104 sales and a $160,000 median price, down 34.7 percent from a year earlier. The county's high was $351,500 in June 2005.
  • Nevada County reported 78 sales and a 20.2 percent annual drop in median prices, to $331,000. Its high was $501,000 in Oct. 2005.
  • Amador County counted 29 sales and a median price of $270,000, down 18.6 percent from Dec. 2007. The county's median price peaked at $425,000 in May 2006.


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