California Home sales rise 49% compared with April 2008.
May 29th, 2009 Categories: Real Estate News, Real Estate Trends, Sacramento RE Stats, Sacramento Real Estate
The median price of homes sold in Sacramento recently dropped 34.3 percent from $190,250 in April 2008 to $125,000 last month. That’s way less than half the $342,800 in 2007, according to the California Association of Realtors.
CAR says 80 percent of Sacramento County first-timers could afford a median-priced entry-level home in the first quarter of 2009!
Central California First-time home buyers and investors are jumping to take advantage of state and federal tax breaks, low interest rates, and prices that are more affordable than they have been in many, many years.
Inventory has gone form a high of 16.6 months to just 4.6 months! Any time the inventory is under 6 months, it is considered a sellers market! Talk about some weird combinations of market dynamics!
Statewide, for the first time in years, both volume and median price increased month over month for the last thirty days, the California Association of Realtors reported the other day.
The median price for a single-family home here in California was $256,700 in April, down 36.5% from a year earlier but 1.4% higher than the previous month, according to the California Association of Realtors
