Home prices rose in July for most of the Sacramento region’s neighborhoods, but an increasing number of them posted small price gains or declines amid a general stagnation in the housing market.
Of the neighborhoods that had 10 or more resale home sales, 50 areas saw increases in the median sales price compared to the same month in 2017. Fourteen saw declines, and seven saw modest increases of less than 4 percent, according to new data from CoreLogic. Two had no change.
The median sales price for all homes in Sacramento County in July was $360,000, a 5 percent increase compared to July 2017. But there was was a 1 percent dip from June’s median of $362,000. Sales are flat also. The 2,418 homes sold in the county is about 1 percent fewer than the number of sales in July last year.
The lowest prices, among areas with more than 10 resales, were in the 95824 ZIP code in South Sacramento. That area had 31 home sales with a $219,000 median price.
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Placer County’s 95658 ZIP code in Newcastle had the largest year-over-year increase. The median resale home sale price there rose to $760,000 in 2018, an increase of 36 percent from $560,000 in July 2017.
The second highest increase was in Sacramento’s Land Park and Curtis Park. The 95818 ZIP code saw a 32 percent increase to $605,000 from $460,000 in July 2017.
The 95747 ZIP code in Roseville led the region in home sales with 127 in July. The median home price there was flat — just 0.6 percent over the previous year. Other active ZIP codes in July included Folsom’s 95630, with 103 home sales, and El Dorado Hill’s 95762, with 102.
The largest decline in the median sales price for neighborhoods with more than 10 homes sold was in Truckee’s 96161, where prices dropped 24 percent. The median sales price was $912,500, down from $1.2 million in July 2017.