A Tale of Two Markets: Sacramento Real Estate Market Trends

Sacramento real estate trends are showing a huge disparity between homes priced under $250,000 and those priced over $250,000

Check out the numbers:

under 250k over 250k 250-350k 350-450k 450-600k 600-800k 800-1mil over 1mil

It is no secret that lower priced homes sell faster.  That is true in any market and is definitely true here in Sacramento.  I was doing some research on our new Trendgraphics while getting ready for a listing appointment tonight and started moving the minimum-maximum prices around on the search tool/website and was surprised to find where our median price of homes available is her in Sacramento/Placer/El Dorado Counties.

The median price of all 6159 homes on the market in these three counties is somewhere between 250 and 300k.  Now this is  the lower half of the median price of all active homes for sale in these three counties. I thought I’d error on the conservative side and picked $250,000 for my reports: the system doesn’t have capabilities to search any closer than in 50k increments.  There are 2903 under 250k and 3256 over 250k…

I looked at the homes in the lower half of median into one statistical group.  The upper price range I took apart and went much deeper to reveal some startling trends.

This first chart is all homes who’s active price is less than 250k. This group of homes have  1.3 Months  of Inventory based on Pended sales and  2.9 months of inventory based on closed sales. This includes ALL types of sales; including Bank Owned (REO,)  Short Sale, and Equity Sale.  On the same chart, those same homes have an median price of $160,000 an average active price of 167k and an average sold price of  157k.

Sacramento  Placer El Drado Homes Under $250,000 Active Price

Sacramento Placer El Drado Homes Under $250,000 Active Price

Here is more information on this same group of homes: all under 250,000 Active Price in Sacramento, Placer, El Dorado Counties.

Date 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 1/10 2/10
For Sale 4894 4596 3821 3384 3049 2352 2167 2125 2302 2330 2571 2797 2903
New Listing 1804 2285 1816 1795 2050 2127 1933 2013 2097 1747 1873 2100 2056
Sold 1387 1553 1564 1496 1602 1634 1418 1478 1562 1270 1459 1086 1004
Pended 1761 2112 2201 1941 1973 2127 2010 1714 1584 1357 1307 1678 2247
Months of Inventory based on Closed Sales 3.5 3.0 2.4 2.3 1.9 1.4 1.5 1.4 1.5 1.8 1.8 2.6 2.9
Months of Inventory based on Pended Sales 2.8 2.2 1.7 1.7 1.5 1.1 1.1 1.2 1.5 1.7 2.0 1.7 1.3
Absorption Rate based on Closed Sales 28.3 33.8 40.9 44.2 52.5 69.5 65.4 69.6 67.9 54.5 56.7 38.8 34.6
Absorption Rate based on Pended Sales 36.0 46.0 57.6 57.4 64.7 90.4 92.8 80.7 68.8 58.2 50.8 60.0 77.4
Avg. Active Price 154 157 160 160 161 162 165 166 167 168 165 165 167
Avg. Sld Price 141 143 141 148 154 151 155 155 157 159 157 154 157
Avg. Sq. Ft. Price 101 100 100 101 106 107 107 107 109 111 110 108 109
Sold/List Diff. % 99 99 99 99 100 101 101 101 101 101 100 100 100
Sold/Orig LP Diff. % 91 90 91 92 95 96 97 97 98 98 97 97 97
Days on Market 51 56 55 56 51 52 46 47 48 46 52 52 57
Avg CDOM 77 79 79 78 71 70 64 64 62 62 68 70 69
Median Price 142 145 140 152 159 156 160 159 160 161 160 155 160

Contrast This

This  portion of the real estate market (under 250k)  in the Sacramento Metro Area is much different from those homes that are in the higher side of the median active sale price.

Please understand, this is really no big surprise; we all know the higher priced homes take longer to sell. My big AHA!! was how many of these there are…

Sacramento Placer El Dorado County Real Estate Trends and Statistics

Sacramento Placer El Dorado County Real Estate Trends and Statistics

As you can see below, these homes have an inventory of 6.1 months, and their median price is only 321k!

Date 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 1/10 2/10
For Sale 4961 4827 4689 4604 4406 4128 4045 3928 3726 3474 3175 3148 3256
New Listing 1398 1524 1512 1481 1457 1603 1406 1409 1307 1023 962 1361 1383
Sold 627 753 774 829 884 947 830 816 895 737 819 557 538
Pended 785 1054 1091 1031 1070 1101 1013 948 887 712 654 859 1141
Months of Inventory based on Closed Sales 7.9 6.4 6.1 5.6 5.0 4.4 4.9 4.8 4.2 4.7 3.9 5.7 6.1
Months of Inventory based on Pended Sales 6.3 4.6 4.3 4.5 4.1 3.7 4.0 4.1 4.2 4.9 4.9 3.7 2.9
Absorption Rate based on Closed Sales 12.6 15.6 16.5 18.0 20.1 22.9 20.5 20.8 24.0 21.2 25.8 17.7 16.5
Absorption Rate based on Pended Sales 15.8 21.8 23.3 22.4 24.3 26.7 25.0 24.1 23.8 20.5 20.6 27.3 35.0
Avg. Active Price 543 551 561 568 581 592 594 586 579 567 553 544 539
Avg. Sld Price 373 369 380 388 388 383 369 375 373 389 383 388 365
Avg. Sq. Ft. Price 150 149 150 154 156 154 150 152 149 152 149 149 145
Sold/List Diff. % 98 97 97 97 98 98 98 98 98 98 97 97 97
Sold/Orig LP Diff. % 91 91 91 92 92 92 93 93 93 92 92 91 93
Days on Market 67 71 71 65 65 64 58 63 64 65 71 78 69
Avg CDOM 90 97 102 89 94 88 81 84 82 86 93 99 93
Median Price 335 329 332 330 341 336 330 328 330 340 335 330 321

I took this portion of the market apart even more and did $100,000  and $250,000″traunches” for  a closer look of the inventory and days on the market of our upper median priced homes and into the Luxury Home prices here in the Sacramento area. More Surpises…

250-350k

Sac Placer Eld 250-350k

Sac Placer Eld 250-350k

Thes Homes are flying off the shelf

Date 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 1/10 2/10
For Sale 1885 1783 1649 1551 1415 1259 1243 1258 1294 1295 1239 1258 1321
New Listing 609 685 627 628 637 740 679 693 666 537 533 639 700
Sold 350 435 424 450 459 522 481 466 498 392 454 311 335
Pended 435 582 574 548 570 606 585 510 465 384 374 487 654
Months of Inventory based on Closed Sales 5.4 4.1 3.9 3.4 3.1 2.4 2.6 2.7 2.6 3.3 2.7 4.0 3.9
Months of Inventory based on Pended Sales 4.3 3.1 2.9 2.8 2.5 2.1 2.1 2.5 2.8 3.4 3.3 2.6 2.0
Absorption Rate based on Closed Sales 18.6 24.4 25.7 29.0 32.4 41.5 38.7 37.0 38.5 30.3 36.6 24.7 25.4
Absorption Rate based on Pended Sales 23.1 32.6 34.8 35.3 40.3 48.1 47.1 40.5 35.9 29.7 30.2 38.7 49.5
Avg. Active Price 294 295 295 296 297 298 298 298 298 297 298 298 296
Avg. Sld Price 292 288 289 289 288 291 290 288 289 291 290 288 292
Avg. Sq. Ft. Price 134 134 131 132 135 135 135 137 135 135 132 129 134
Sold/List Diff. % 99 98 98 99 99 99 99 99 99 99 99 98 99
Sold/Orig LP Diff. % 94 92 93 94 94 94 95 95 95 95 95 95 96
Days on Market 58 68 65 58 59 59 51 56 60 56 66 65 61
Avg CDOM 81 95 93 81 84 82 68 71 73 74 82 82 75
Median Price 289 282 287 287 285 288 288 285 286 290 285 285 290

350-450k

Sac Placer ED County Homes Active Price 350-450k

Sac Placer ED County Homes Active Price 350-450k


Inventory really starting to slow down in this price range- over six months of inventory makes this the first pricerange that is truly a buyer’s maket!

Date 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 1/10 2/10
For Sale 1073 1061 1023 1021 1003 961 943 893 805 738 675 681 680
New Listing 347 364 369 371 367 390 337 334 294 232 225 355 306
Sold 162 190 199 214 225 199 210 191 233 186 195 133 113
Pended 196 253 284 253 254 259 234 246 224 162 165 209 260
Months of Inventory based on Closed Sales 6.6 5.6 5.1 4.8 4.5 4.8 4.5 4.7 3.5 4.0 3.5 5.1 6.0
Months of Inventory based on Pended Sales 5.5 4.2 3.6 4.0 3.9 3.7 4.0 3.6 3.6 4.6 4.1 3.3 2.6
Absorption Rate based on Closed Sales 15.1 17.9 19.5 21.0 22.4 20.7 22.3 21.4 28.9 25.2 28.9 19.5 16.6
Absorption Rate based on Pended Sales 18.3 23.8 27.8 24.8 25.3 27.0 24.8 27.5 27.8 22.0 24.4 30.7 38.2
Avg. Active Price 394 395 395 396 397 398 397 396 395 396 394 396 396
Avg. Sld Price 392 392 388 391 391 390 390 388 390 392 389 391 389
Avg. Sq. Ft. Price 154 149 151 154 158 159 147 151 149 149 145 154 147
Sold/List Diff. % 98 97 97 98 98 98 98 98 98 98 98 98 97
Sold/Orig LP Diff. % 90 92 92 92 93 93 95 94 93 95 93 94 95
Days on Market 76 70 73 67 66 62 50 71 69 53 69 84 67
Avg CDOM 98 93 99 88 94 87 62 89 90 74 83 105 111
Median Price 393 390 385 388 390 388 385 385 387 390 387 389 388

450-600K

It’s getting slower! And more painful! One of the most glaring satistics, and ond that would give some insight into the frustration these sellersare going through: in this pricerange, These homes are on the market for an aerage of 139 days and have a 9% sold price/original list price ratio- in this price range that’s $40,000 to $55,000 Lower than their original List price! And they waited over 4 and a half months to sell!

Sacramento Placer El Dorado County Real Estate Statistics for 450-600K

Sacramento Placer El Dorado County Real Estate Statistics for 450-600K

Date 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 1/10 2/10
For Sale 843 812 832 818 785 756 719 709 648 582 524 500 561
New Listing 220 216 260 227 220 231 207 212 198 138 117 208 212
Sold 87 80 86 93 129 152 94 100 103 100 114 60 57
Pended 99 127 142 143 147 146 131 113 118 105 74 106 135
Months of Inventory based on Closed Sales 9.7 10.2 9.7 8.8 6.1 5.0 7.6 7.1 6.3 5.8 4.6 8.3 9.8
Months of Inventory based on Pended Sales 8.5 6.4 5.9 5.7 5.3 5.2 5.5 6.3 5.5 5.5 7.1 4.7 4.2
Absorption Rate based on Closed Sales 10.3 9.9 10.3 11.4 16.4 20.1 13.1 14.1 15.9 17.2 21.8 12.0 10.2
Absorption Rate based on Pended Sales 11.7 15.6 17.1 17.5 18.7 19.3 18.2 15.9 18.2 18.0 14.1 21.2 24.1
Avg. Active Price 522 523 525 524 524 523 525 522 521 523 522 523 524
Avg. Sld Price 509 512 503 506 505 509 505 505 515 519 500 516 495
Avg. Sq. Ft. Price 158 164 161 168 171 165 167 172 159 163 170 157 151
Sold/List Diff. % 96 96 98 96 97 97 97 97 98 97 97 97 97
Sold/Orig LP Diff. % 88 90 91 90 91 92 91 92 95 89 90 93 91
Days on Market 78 73 84 77 84 75 81 67 61 87 86 69 98
Avg CDOM 96 92 108 104 114 92 124 101 84 109 116 85 139
Median Price 500 515 499 500 497 510 498 500 510 518 500 516 485

600-800k

Slowing even more… but definately still selling!

Sacramento Placer El Dorado County Real Estate Statistics for Homes 600-800k

Sacramento Placer El Dorado County Real Estate Statistics for Homes 600-800k

The Averae days on Mkt are all over the board, but these monsters are still selling great! these homes actually enjoy a hightr % (94%) retio of original active list price to sale price.

Date 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 1/10 2/10
For Sale 524 531 543 537 512 488 477 457 390 351 300 289 290
New Listing 106 117 141 120 120 124 95 88 63 69 46 77 87
Sold 16 36 44 46 44 57 29 41 43 36 35 34 20
Pended 38 54 52 60 64 60 39 47 51 34 21 34 54
Months of Inventory based on Closed Sales 32.8 14.8 12.3 11.7 11.6 8.6 16.4 11.1 9.1 9.8 8.6 8.5 14.5
Months of Inventory based on Pended Sales 13.8 9.8 10.4 9.0 8.0 8.1 12.2 9.7 7.6 10.3 14.3 8.5 5.4
Absorption Rate based on Closed Sales 3.1 6.8 8.1 8.6 8.6 11.7 6.1 9.0 11.0 10.3 11.7 11.8 6.9
Absorption Rate based on Pended Sales 7.3 10.2 9.6 11.2 12.5 12.3 8.2 10.3 13.1 9.7 7.0 11.8 18.6
Avg. Active Price 699 701 701 700 701 700 701 700 698 698 699 698 703
Avg. Sld Price 671 672 689 678 673 674 689 678 660 663 688 680 665
Avg. Sq. Ft. Price 196 193 191 192 194 193 198 176 186 186 182 178 173
Sold/List Diff. % 98 96 97 96 96 96 97 97 94 95 95 94 98
Sold/Orig LP Diff. % 87 88 85 89 92 89 85 92 88 85 89 88 94
Days on Market 76 92 100 96 84 70 119 75 81 126 87 133 61
Avg CDOM 88 131 163 140 131 121 199 126 111 152 109 186 102
Median Price 671 665 675 655 653 665 680 670 650 650 685 668 650

This is part of the Big Surprise!!  There are still lots of pople with money out there! and thet are buying Big Houses!!

These are 800k to 1 mil.

Sacramento  Placer El Dorado Counties Real Estate Statistics 800k-1m

Sacramento Placer El Dorado Counties Real Estate Statistics 800k-1mActually Less days on the market and lessactive litings! There are Luxury Home Buyers in the Sacramento Metro Area Buying!Date2/093/094/095/096/097/098/099/0910/0911/0912/091/102/10For Sale233224239264270259268242243195173170150New Listing48525670395340403318293630Sold66131415569111213109Pended9221815151412181417121522Months of Inventory based on Closed Sales38.837.318.418.918.051.844.726.922.116.313.317.016.7Months of Inventory based on Pended Sales25.910.213.317.618.018.522.313.417.411.514.411.36.8Absorption Rate based on Closed Sales2.62.75.45.35.61.92.23.74.56.27.55.96.0Absorption Rate based on Pended Sales3.99.87.55.75.65.44.57.45.88.76.98.814.7Avg. Active Price912912912910909909908912908904906908910Avg. Sld Price853916866866867895877890865886888867845Avg. Sq. Ft. Price246238207194217214219203219213181187220Sold/List Diff. %94939294969796959595989894Sold/Orig LP Diff. %88887885938092898577919184Days on Market117699685511814111711519394132139Avg CDOM166692019512521578192157193291199139Median Price825910855866850950865873860878885848825 Over 1 mil and more surprises Sacramento Placer El Dorado County Real Estate Statistics 1 mil and up

Why are these homes dead in the water? they are only 300koverth median price of teh last goup, yet they have 53 months if inventory!!

Date 2/09 3/09 4/09 5/09 6/09 7/09 8/09 9/09 10/09 11/09 12/09 1/10 2/10
For Sale 505 514 505 527 537 515 503 475 451 392 334 326 318
New Listing 88 115 79 96 89 85 62 60 62 35 26 57 56
Sold 7 10 11 16 16 15 12 13 8 16 12 11 6
Pended 9 26 26 18 26 21 17 20 18 18 11 13 24
Months of Inventory based on Closed Sales 72.1 51.4 45.9 32.9 33.6 34.3 41.9 36.5 56.4 24.5 27.8 29.6 53.0
Months of Inventory based on Pended Sales 56.1 19.8 19.4 29.3 20.7 24.5 29.6 23.8 25.1 21.8 30.4 25.1 13.3
Absorption Rate based on Closed Sales 1.4 1.9 2.2 3.0 3.0 2.9 2.4 2.7 1.8 4.1 3.6 3.4 1.9
Absorption Rate based on Pended Sales 1.8 5.1 5.1 3.4 4.8 4.1 3.4 4.2 4.0 4.6 3.3 4.0 7.5
Avg. Active Price 1580 1574 1586 1554 1566 1593 1602 1613 1606 1639 1638 1606 1638
Avg. Sld Price 1297 1098 1157 1321 1181 1067 1153 1181 1174 1149 1439 1229 1237
Avg. Sq. Ft. Price 272 235 254 270 230 218 261 233 224 256 239 234 229
Sold/List Diff. % 91 95 92 91 94 91 92 91 99 94 89 83 80
Sold/Orig LP Diff. % 80 84 81 88 87 80 80 83 85 86 81 64 68
Days on Market 80 92 77 62 65 127 129 87 98 81 128 197 233
Avg CDOM 221 149 177 96 78 182 287 176 115 135 330 221 260
Median Price 1150 1025 1027 1350 1100 1050 1045 1140 1095 1078 1138 1050 1120

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