Region’s housing market continues momentum
Home sales in the Sacramento area continued to surge last month, even as sales price spikes cooled a bit, according to statistics released Friday by Irvine-based market researcher CoreLogic.
In Sacramento County, 2,402 new and existing houses and condos sold last month, a robust 23 percent increase over 1,953 in June 2014 and a nearly 16 percent improvement over 2,071 in May this year.
The median sales price among all homes was $278,500, up slightly from $276,250 in May and a 7.1 percent increase from $260,000 in June last year.
For detached single-family homes in Sacramento County, the median resale price was $280,000, up about 7.7 percent from the June 2014 median of $260,000. For perspective, the resale median in August 2005 was $372,000.
“It was the best June in seven years,” said CoreLogic analyst Andrew LePage. “From a sales volume standpoint, the return to normalcy is well on the way …We’re getting back to tail-end-of-the-boom, beginning-of-the-bust levels.”
Sales of all homes and condos in June totaled 1,015 in Placer County, a 33.9 percent year-over-year increase. The median sales price was $402,000, up 5.7 percent from the year-ago period.
El Dorado County sales totaled 348, up 13.4 percent over last year. The median price of all sales in El Dorado was $383,500, up about 10 percent from June 2014.
In Yolo County, June home and condo sales totaled 276, up 34.6 percent from last year. The median sales price was $386,500 in June, up 3.6 percent from one year ago.
CoreLogic also said Friday that 9,386 new and existing houses and condos sold in the nine-county Bay Area in June, up nearly 14 percent from May and a 16.4 percent surge from 8,064 sales in June 2014. The June 2015 sales total was the highest for the month of June since 2006, when 10,830 homes sold, and the highest for any month since 9,713 homes sold in August 2006.
On Thursday, CoreLogic said 24,378 new and existing houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in June, up 18.1 percent from 20,635 in the year-ago period.
Mark Glover: 916-321-1184, @markhglover
Detached home sales in June 2015
Data for area counties with at least 10 escrows closed in June 2015.
County | Escrows closed | Change from June '14 | Median price | Change from June '14 |
Amador* | 71 | 24.6% | $225,000 | 5.9% |
El Dorado | 321 | 11.8% | $365,000 | 10.3% |
Nevada | 204 | 21.4% | $379,000 | 13.1% |
Placer | 807 | 30.0% | $399,000 | 5.0% |
Sacramento | 2,033 | 22.0% | $280,000 | 7.7% |
Sutter | 114 | 16.3% | $225,000 | 12.8% |
Yolo | 228 | 31.0% | $404,000 | 10.2% |
Yuba | 112 | 19.1% | $230,000 | 30.5% |
*Includes condos
Resale condos
County | Escrows closed | Change from June '14 | Median price | Change from June '14 |
Nevada | 11 | 120.0% | $230,000 | -10.2% |
Placer | 56 | 16.7% | $264,500 | 14.9% |
Sacramento | 214 | 28.9% | $165,000 | 7.8% |
Yolo | 22 | 69.2% | $215,000 | -12.3% |
New home sales (includes condos)
County | Escrows closed | Change from June '14 | Median price | Change from June '14 |
El Dorado | 27 | 35.0% | $575,500 | 14.8% |
Placer | 152 | 70.8% | $461,500 | 8.3% |
Sacramento | 155 | 28.1% | $430,000 | 19.3% |
Yolo | 26 | 44.4% | $471,000 | 7.4% |
All homes
County | Escrows closed | Change from June '14 | Median price | Change from June '14 |
Amador | 71 | 22.4% | $225,000 | 7.1% |
El Dorado | 348 | 13.4% | $383,500 | 9.9% |
Nevada | 217 | 21.2% | $379,000 | 13.5% |
Placer | 1,015 | 33.9% | $402,000 | 5.7% |
Sacramento | 2,402 | 23.0% | $278,500 | 7.1% |
Sutter | 124 | 14.8% | $225,000 | 16.3% |
Yolo | 276 | 34.6% | $386,500 | 3.6% |
Yuba | 121 | 16.3% | $235,000 | 21.4% |
Note: Due to incomplete data for late June, escrows closed in El Dorado, Nevada and Yolo counties are estimates.
Source: CoreLogic
This story was originally published July 17, 2015 at 12:26 PM with the headline "Region’s housing market continues momentum."