Real Estate News

CoreLogic: Sacramento County has best January in three years

Sacramento County had its best January in three years, according to home sales totals released Wednesday by Irvine-based market researcher CoreLogic.

Sales of existing homes in Sacramento County totaled 1,124 last month, up 7.4 percent from 1,047 in January 2015. The median sales price of existing homes in January was $265,500, up 8.4 percent from $245,000 in the same month in 2015.

The latest numbers were still well under peak levels seen in the prerecession housing boom. For perspective, the countywide median resale price in August 2005 was $372,000.

The median is point at which half the homes cost more and half cost less.

Among all homes – including new and resale homes and condos – Sacramento County sales in January totaled 1,378, up almost 9 percent from 1,265 in the year-ago period. The median sales price among all homes was $270,000, up 10.2 percent from $245,000 in January 2015.

January sales totals were far below December figures across the board, but that was attributed to new federal mortgage rules in late 2015 that pushed closings in November into the December sales column. That swelled December sales numbers to unusually high levels.

There were 129 new home sales in Sacramento County last month, up 33 percent from 97 in January 2015. The median sales price of new homes closing in January was $394,000, down 1 percent from $398,000 in January 2015.

 

CoreLogic analyst Andrew LePage noted that “January and February are sort of strange months that have not proven to be predictive. … Some people don’t like to buy or sell during the holidays or the middle of winter, so you’re left with a subset of the normal group of market participants. Investors tend to be more concentrated in the January/February closing/recording stats.

“Typically, the March and April data reflect a growing number of traditional buyers, and at that point we should get a stronger sense of where the housing market is headed.”

The Sacramento region’s sales pattern for January was similar to that seen in other California metro markets tracked by CoreLogic.

CoreLogic said 4,845 new and existing houses and condominiums sold in the nine-county Bay Area last month, down 38.3 percent from 7,849 in December but up 7.1 percent from 4,523 in January 2015.

In the six-county Southern California region, 14,619 new and previously owned houses and condominiums sold in January, down 30.8 percent from 21,118 in December and up 7.3 percent from 13,627 in January 2015.

Mark Glover: 916-321-1184, @markhglover

Capital region January 2016 home sales

Resale detached

SALES

Jan-16

Yr/yr % chng

MEDIAN

PRICE

Jan-16

Yr/yr % chng

Amador*

49

28.9%

$210,000

-5.2%

El Dorado

163

7.2%

$379,500

15.8%

Nevada

99

-18.9%

$363,000

-0.5%

Placer

430

19.4%

$395,500

5.5%

Sacramento

1,124

7.4%

$265,500

8.4%

Sutter

66

-10.8%

$210,000

3.7%

Yolo

110

20.9%

$329,000

8.0%

Yuba

80

9.6%

$192,500

-3.0%

Resale condos

Jan-16

Yr/yr % chng

Jan-16

Yr/yr % chng

Amador

n/a

n/a

n/a

n/a

El Dorado

2

n/a

$273,250

n/a

Nevada

5

-16.7%

$263,000

25.2%

Placer

36

-16.3%

$233,500

38.0%

Sacramento

125

3.3%

$157,000

1.3%

Sutter

2

100.0%

$120,750

201.9%

Yolo

4

-60.0%

$244,500

38.5%

Yuba

2

n/a

$65,500

n/a

New homes

Jan-16

Yr/yr % chng

Jan-16

Yr/yr % chng

Amador

0

n/a

n/a

n/a

El Dorado

20

150.0%

$559,300

-8.0%

Nevada

5

-37.5%

$620,000

109.3%

Placer

74

19.4%

$466,000

6.5%

Sacramento

129

33.0%

$394,000

-1.0%

Sutter

7

75.0%

$478,000

71.5%

Yolo

9

-47.1%

$459,000

-1.4%

Yuba

3

200.0%

$297,000

-21.3%

All homes

Jan-16

Yr/yr % chng

Jan-16

Yr/yr % chng

Amador

49

28.9%

$210,000

-5.2%

El Dorado

185

15.6%

$390,500

17.4%

Nevada

109

-19.9%

$371,000

3.8%

Placer

540

16.1%

$402,500

8.8%

Sacramento

1,378

8.9%

$270,000

10.2%

Sutter

75

-5.1%

$215,000

4.9%

Yolo

123

4.2%

$342,000

0.1%

Yuba

85

14.9%

$195,000

-2.5%

*includes condos

Source: CoreLogic

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