Real Estate News

The housing market might be slowing down. See if prices changed in your neighborhood

Home prices rose again in June for most of the Sacramento region’s neighborhoods, but an increasing number of them posted small price gains or declines amid potential signs of a market slump.

Of the neighborhoods that had 10 or more resale home sales, 49 areas saw increases in the median sales price compared to the same month in 2017. Ten saw declines, according to new data from CoreLogic, and another 10 saw modest increases of less than 4 percent.

The median sales price for all homes in Sacramento County increased to $361,500 in June, a 5 percent increase compared to June 2017. Sales are slowing, however. The 2,417 homes sold in the county was 3 percent fewer than the number of sales in June last year.

The lowest prices, among areas with more than 10 sales, were in the 95815 ZIP code that includes North Sacramento and Woodlake. That area had 35 home sales with a $220,000 median price.

Sacramento County’s 95816 ZIP code had the largest year-over-year increase. The median resale home sale price there — central Sacramento including parts of midtown and East Sacramento — rose to $687,500 in 2018, an increase of 31 percent from $526,250 in June 2017.

The second highest increase was in Galt and its surroundings. The 95632 ZIP code saw a 25 percent increase to $400,250.

Sacramento’s 95864 had a 12 percent year-over-year decrease in median sales price, but it was also home to the month’s highest-priced in the county at $2.26 million.

In Roseville, the 95747 ZIP code led the region in home sales with 154 in June. The median home price there was up 3 percent over the previous year. Other active ZIP codes in June included Folsom’s 95630, with 130 home sales, and Lincoln’s 95648, with 121.

The largest decline in the median sales price for neighborhoods with more than 10 homes sold was in Truckee’s 96161, where prices dropped 40 percent. The median sales price was $839,500, down from $1.4 million in June 2017. But the area also had the most expensive home sale completed in the region in June — a transaction for $4.1 million.

Source: CoreLogic   Note: June data unavailable for Yolo County

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