Real Estate News

Home sales continue to lag. See how prices held up in your neighborhood in November

The midprice home in Sacramento County is about $350,000. Here’s what you get for that

The median home sales price in Sacramento County in October 2018 was $350,000. The latest data for December has the county median sales price for resale homes dipping to $346,000.
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The median home sales price in Sacramento County in October 2018 was $350,000. The latest data for December has the county median sales price for resale homes dipping to $346,000.

Sacramento County resale home sales fell year-over-year for the seventh consecutive month in November.

But the median sales price for all homes in the Sacramento County in November rose 6 percent year-over-year, according to new data from real estate analytics firm CoreLogic.

Sacramento County’s median price was $360,000 for all homes, including condos and new construction. The median for resale homes was $350,000.

In the four-county region, several neighborhoods saw moderate declines in home prices from the previous year. The largest decline in the median sales price for neighborhoods with more than 10 homes sold was in Arden Arcade. Prices dropped in the 95864 ZIP code 23 percent compared to November 2017. The median sales price was $425,000, down from $550,000.

Most of the region’s neighborhoods saw modest year-over-year increases in median home price.

Of the 61 neighborhoods with 10 or more escrows closed in November, 47 saw increases in the median sales price compared to the same month in 2017, although 35 of these increases were less than 10 percent. Fourteen saw declines, only two of which were decreases of more than 10 percent.

The 96161 ZIP code, which includes Truckee, had the largest year-over-year increase. The median resale home price there rose to $1.3 million in 2018, an increase of 27 percent from $1 million in November 2017.

The second highest increase was in Sacramento’s 95817 ZIP code. The area, which includes North Oak Park, saw a 26 percent price increase to $398,750 from $317,500 in November 2017.

The lowest median prices for resale homes in the four-county region, among areas with more than 10 sales, were in the 95815 ZIP code in North Sacramento. That area had 27 home sales with a median price of $220,000.

Source: CoreLogic


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