Real Estate News

Sacramento home prices continue rising in September

A home for sale on Culver Lane in Cameron Park.
A home for sale on Culver Lane in Cameron Park. Ed Andersen

Home sales in the Sacramento area slowed down a bit in September, while the median sales price continued to rise, according to statistics released Tuesday by Irvine-based market researcher CoreLogic.

In Sacramento County, 2,191 homes – including new and resale homes and condos – sold last month. That was down slightly from 2,254 in August, but it was a 15.8 percent increase over 1,892 in September 2014.

The median sales price among all Sacramento County homes in September was $280,000, up from $271,000 in August and a 7.7 percent increase from $260,000 in September last year.

There were 1,815 existing homes that changed hands in Sacramento County last month, down 4.7 percent from 1,905 in August. But the sales volume was about 14 percent higher than 1,594 in the year-ago period.

Among detached single-family homes in Sacramento County changing hands in September, CoreLogic said the median sales price was $280,000, down from $275,000 in August but up nearly 7 percent from the September 2014 median of $262,000. For perspective, the resale median in August 2005 was $372,000.

One notable, significant change among the statistics: New home sales in Sacramento County in September totaled 177, up nearly 67 percent from 106 in August and nearly 40 percent over 128 in September last year.

The median sales price among new home sales recorded in Sacramento County in September was $383,000, down sharply from the August median of $416,750.

Sales of all homes in Placer County in September totaled 892, down from 925 in August but a nearly 18 percent year-over-year increase from 757 a year ago.