Real Estate News

Sacramento County sees home sales surge in March

Coming on the heels of positive reports from residential real estate offices throughout the area, Sacramento County’s housing market saw strong year-over-year gains in March, according to data released Tuesday by Irvine-based researcher CoreLogic.

Sales of existing homes in Sacramento County totaled 1,709 last month, up 11.8 percent from 1,529 in March 2015. The median sales price of existing homes in March was $295,000, up 11.1 percent from $265,500 in the same month in 2015.

That median also surpassed the county's high-water mark of $280,000, posted multiple times since November 2007.

While impressive, the latest numbers were still far less than peak levels seen in the pre-recession housing boom. For perspective, the countywide median resale price in August 2005 was $372,000.

The median is the 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 March totaled 2,124, up nearly 15 percent from 1,850 in the year-ago period. The median sales price among all homes in March was likewise $295,000, up 11.3 percent from $265,000 in March 2015.

There were 209 new home sales in Sacramento County last month, up 60.8 percent from 130 in March 2015. The median sales price of new homes closing in March was $389,500, down slightly from $396,250 in March last year.

Mark Glover: 916-321-1184, @markhglover