Real Estate News

Sacramento-area home sales, median prices pull back a bit in July

Sacramento

Home sales and median sales prices in the Sacramento area slowed just a bit in July, but both key sectors continued to run well ahead of last year, according to statistics released Wednesday by Irvine-based market researcher CoreLogic.

In Sacramento County, 2,339 homes – including new, resale homes and condos – sold last month. That was down slightly from 2,392 in June, but it was an 11.4 percent increase over 2,100 in July 2014.

The median sales price among all Sacramento County homes in July was $275,000, down from $278,500 in June but a 7 percent increase from $257,000 in July last year.

Even with the small June-to-July declines, CoreLogic analyst Andrew LePage noted: “Like much of the state, it’s shaping up to be the strongest summer from a sales standpoint since the (economic) downturn. But let’s see what August brings.”

For detached single-family homes in Sacramento County, the median resale price was $279,000, down from $280,000 in June but up 7.3 percent from the July 2014 median of $260,000. For perspective, the resale median in August 2005 was $372,000.

Sales of all homes in July totaled 920 in Placer County, a nearly 15 percent year-over-year increase but down from 990 in June this year. The median sales price was $395,000, up 5.9 percent from the year-ago period but down from $401,500 in June 2015.

El Dorado County sales of all homes totaled 359 in July, up 22.5 percent over last year but down from 339 in June. The median price of all sales in El Dorado was $385,000, up about 4 percent from July 2014 but down from $395,000 in June.

In Yolo County, July home sales totaled 243, up nearly 10 percent from last year but down from 246 in June. The median sales price among all Yolo homes was $370,000 last month, up about 11 percent from one year ago but down from $372,500 in June this year.

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