Real Estate News

Sacramento area home prices approach 2005 peak

Sacramento area home prices continued rising in March, closing in on the peak prices reached during the housing bubble in the summer of 2005 before a disastrous collapse.

The median price paid for resale single-family detached houses in Sacramento County stood at $349,300 in March, CoreLogic reported this week.

That was nearly 7 percent below the all-time high of $374,000 in August 2005 and and the highest for any month since February 2007, when the median price of resale homes was $350,000, the Irvine-based real estate tracking firm said.

The median is the price at which half of homes sell for more and half sell for less. It can be influenced by rising prices and the mix of homes sold.

San Francisco Bay Area home prices continued to set new records in March, CoreLogic said. The median price for all homes sold in the Bay Area was $820,000.

It rose from $750,000 in February 2018, and was up 14.7 percent year over year from $715,000 in March 2017, the firm reported.

The Bay Area's prior peak median was $784,000 in November 2017.

Editor's note: The number of homes sold in Sacramento County in 2018 was corrected in the resale homes table on Monday, April 30.

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