Real Estate News

Home sales have dropped sharply in Sacramento. See how that’s affecting prices in your neighborhood

Sacramento County total home sales fell 22.5 percent year-over-year in December, the lowest for the month since 2007.

The year-over-year increase in median sales price for all homes in Sacramento County in December was 4.4 percent, the second lowest for any month in 2018. Only October 2018 saw a smaller year-over-year gain – 3 percent – according to new data from real estate analytics firm CoreLogic.

Sacramento County’s median price was $355,000 for all homes, including condos and new construction. The median for resale homes was $346,000.

In the four-county region, the largest decline in the year-over-year median sales price for neighborhoods with more than 10 homes sold was in Colfax in Placer County. Prices dropped 24 percent in the 95713 ZIP code compared to December 2017. The median sales price was $254,800, down from $337,000.

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

Of the 57 neighborhoods with 10 or more escrows closed in December, 41 saw increases in the median sales price compared to December 2017, although 25 of these increases were less than 10 percent.

Woodland’s 95695 ZIP code had the highest increase at 26 percent. With 29 escrows closed in December 2018, the median price of a resale home rose to $380,000 from $302,500 in December 2017.

The second highest increase was in Sacramento’s 95817 ZIP code. The area, which includes north Oak Park, saw a 25 percent price increase to $325,000 from $260,000.

The Fair Oaks Zip code 95628 saw the highest sales price in the county in December – a staggering $3.7 million. Even with that sale, the overall year-over-year resale home sales price in the area dipped 5 percent.

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 18 home sales with a median price of $210,000.

Source: CoreLogic

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