Making the numbers say what we want (and a Sacramento market update)

We can make numbers say whatever we want. We see this all the time in the media, politics, and even in real estate. Sometimes it’s a matter of intentionally fudging the numbers, but other times we might be honest about sharing something but actually still get it totally wrong. Today I want to highlight a real life example how we can end up saying something totally different about the market depending on the numbers we’re looking at. Whether you’re local or not, I hope you can take something away from this post. Then for those interested we’ll dive into a big Sacramento market update. Any thoughts? I’d love to hear your take.

Example 1: Sales price to list price ratio:

sold-vs-list-price-percentage-in-sacramento-county

The sales vs. list price percentage is the ratio between the sales price and whatever the most recent list price was before a property got into contract. For example, imagine a property listed at $100,000, was reduced to $98,000, and then went into contract at $98,000. The sales to list price would be 100% (98/98). If we look at this metric alone and see a county average of 100%, it looks like properties are selling for whatever they’re listed for. Woohoo, the market is hot!!!

Example 2: Sales price to ORIGINAL list price ratio:

sales-price-to-original-list-price-in-sacramento-county-by-sacramento-appraisal-blog

The sales to original list price ratio is the relationship between the original list price and the final sales price. For example, imagine a property listed at $100,000 but was reduced to $98,000, and then went into contract at $96,000. The sales to list price ratio would be 96% (96/100). This metric takes into account ALL price reductions, and in my mind tells a more fuller story of the market.

KEY QUESTION: Which one above does your CMA report?

BIG POINT: If we look at the sales price to list price ratio the market seems like it’s NOT softening. But if we take a deeper look at the sales price to ORIGINAL list price ratio, we see properties on average sold for 4% less than their original list price last month. This is definitely a more telling stat because it reminds us how many properties have been overpriced lately. Remember, there were nearly 1800 sales last month, so an average 4% decline is a big stat. But it’s easy to miss that if we don’t know what to look for and end up reporting the first stat above.

—-—–—– And here’s my big monthly market update  ———–—–

big-monthly-market-update-post-sacramento-appraisal-blog-image-purchased-from-123rfTwo ways to read the BIG POST:

  1. Scan the talking points and graphs quickly.
  2. Grab a cup of coffee and spend time digesting what is here.

DOWNLOAD 70 graphs HERE: Please download all graphs in this post (and more) here as a zip file. Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share (please don’t copy verbatim). Thanks.

Quick Market Summary: The market feels like it should at this time of year. It’s taking slightly longer to sell than it was a couple of months ago, the sales to original list price ratio has been declining, and prices are softening as the hot summer fades away. This doesn’t mean the market is dull at every price range though. In fact, the bottom of the market under $300,000 is definitely more aggressive than properties above $500,000. Right now housing inventory is 11% lower than it was the same time last year and a whopping 35% lower than it was in 2014. If you remember, two years ago the market felt extremely dull and there were about 400 price reductions every day when logging in to MLS (this year price reductions are hovering around 200 tops every day (that’s for the entire MLS coverage area)). This reminds us some fall markets are softer than others. Sales volume this year has been about the same as it was last year, though it’s important to note FHA is down 6% and cash is down over 8% so far. Celebrity house flipping seminars are coming to town frequently in Sacramento, but keep in mind only 2% of all sales in the region last month were bank-owned, which reminds us low-priced fixer deals on MLS are pretty much a thing of the past. Lastly, there has been lots of talk about the market having shifted or beginning a downturn, but right now the stats look to be showing a normal seasonal slowing. We often hear things like, “the market is starting to tank”, but unless we see a real change in the stats or hear something more definitive from the real estate community about values declining, let’s be in tune with the slowing seasonal market. In case it’s useful, here is a video tutorial I did a couple of weeks ago to walk through the slowing season and what it looked like in 2005 also.

Sacramento County:

  1. The median price is 102% higher than it was in early 2012.
  2. Sales volume was up 8.5% this August compared to August 2015.
  3. There were only 4 sales under $100K last month (single family detached).
  4. Sales volume is up about 4% this year compared to last year.
  5. Housing inventory is 11% lower than the same time last year (only 1.57 months of inventory).
  6. FHA volume is down about 6% this year compared to 2015 (though they were 26% of all sales last month).
  7. Cash sales were only 14% of all sales last month.
  8. It took an average of 26 days to sell a home last month, which is 1 day less than the previous month (and 8 less days compared to last year).
  9. REOs were only 3% of all sales last month and short sales were 2.8%.
  10. The median price increased by 1% from last month, is down 3% from two months ago, and is up nearly 12% from last year at the same time.

Some of my Favorite Graphs this Month:

inventory-in-sacramento-county-since-2013-part-2-by-sacramento-appraisal-blog

median-price-context-in-sacramento-county

median-price-since-2013-in-sacramento-county

price-metrics-since-2015-in-sacramento-county-look-at-all

inventory-august-2016-by-home-appraiser-blog

cdom-in-sacramento-county-by-sacramento-regional-appraisal-blog

sales-volume-in-sacramento-county-since-2012

SACRAMENTO REGIONAL MARKET:

  1. The median price is 98.5% higher than it was in early 2012.
  2. It took the same time to sell last month compared to the previous month (but 8 less days compared to August 2015).
  3. Sales volume is about the same as it was last year at the same time (very slightly more this year so far)
  4. Cash sales were 15% of all sales last month.
  5. Cash sales volume is 6.4% lower this year than last year.
  6. FHA sales were 22% of all sales last month.
  7. FHA sales volume is down nearly 7% this year so far.
  8. There is 1.77 months of housing supply in the region right now, which is over 13% lower than the same time last year.
  9. The median price increased last month, but it’s down from two months ago. The median price is up nearly 9% from last year at the same time. The average sales price and average price per sq ft are both up about 8% from last year too.
  10. REOs were only 2% of all sales last month and short sales were the same.

Some of my Favorite Regional Graphs:

median-price-sacramento-placer-yolo-el-dorado-county

regional-inventory-by-sacramento-regional-appraisal-blog

sacramento-region-volume-fha-and-conventional-by-appraiser-blog

days-on-market-in-placer-sac-el-dorado-yolo-county-by-sacramento-appraisal-blog

number-of-listings-in-sacramento-regional-market

interest-rates-inventory-median-price-in-sacramento-regional-market-by-sacramento-appraisal-blog-market

number-of-listings-in-placer-yolo-el-dorado-sacramento-by-home-appraiser-blog

PLACER COUNTY:

  1. Today’s median price is 70% higher than it was in early 2012.
  2. It took 4 more days to sell a house last month than the previous month (but 6 less days than last year at the same time).
  3. Sales volume was down less than 1% in August 2016 compared to last August and is down slightly for the year about 3%.
  4. Both FHA sales were 16% and cash sales were 19% of all sales last month.
  5. There is 2.05 months of housing supply in Placer County right now, which is down nearly 13% from the same time last year.
  6. The median price declined about 1% from the previous month, but for a better context it’s up 7% from last year at the same time.
  7. The average price per sq ft was $214 last month (was $202 last year at the same time).
  8. The average sales price was $472K last month (up about 4% from last year).
  9. Bank owned sales were only 1% of all sales last month.
  10. Short sales were 2% of sales last month.

Some of my Favorite Placer County Graphs:

placer-county-median-price-since-2014-part-2-by-home-appraiser-blog

placer-county-housing-inventory-by-home-appraiser-blog

months-of-housing-inventory-in-placer-county-by-sacramento-appraisal-blog

number-of-listings-in-placer-county-2016

days-on-market-in-placer-county-by-sacramento-appraisal-blog

placer-county-sales-volume-by-sacramento-appraisal-blog

DOWNLOAD 70 graphs HERE: Please download all graphs in this post (and more) here as a zip file. Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share (please don’t copy verbatim). Thanks.

how-to-think-like-an-appraiser-class-by-ryan-lundquistAppraisal Class I’m teaching: On September 29 from 9am-12pm I’m doing my favorite class at SAR called HOW TO THINK LIKE AN APPRAISER. This is a tremendous time where we’ll talk about seeing properties like an appraiser does. We’ll look at comp selection, using price per sq ft properly, and so many issues. My goal is to help you walk away glad you came and full of actionable ideas for business. Register here.

Question: Did I miss anything? Any other market insight you’d like to add? What are you seeing out there? I’d love to hear your take.

If you liked this post, subscribe by email (or RSS). Thanks for being here.

8 things you can buy if you win Powerball (and the market in Sacramento)

Have you bought a Powerball ticket? It’s wild to think someone is probably going to win 1.5 billion dollars this week. Of course there’s an extremely slim chance you’d actually win, but if you do, here are some things you can buy when it comes to real estate. After that, let’s take an in-depth look at Sacramento’s housing market.

powerball winner - real estate - sacramento appraisal blog

8 real estate things you can buy if you win Powerball

  1. All current listings in Sacramento: You could literally buy every single active residential listing in Sacramento, Placer, and Yolo County (and still have about $150M left).
  2. NBA Team: You could buy the Sacramento Kings NBA team and have about one billion to spare.
  3. 63 million Shares of Zillow: You could buy 63,911,376 shares of Zillow ($23.47 per share).
  4. Buy an Island: This is an obvious choice for a billionaire. You could easily buy your own island. Heck, you could buy a group of islands. See some islands that are for sale right now.
  5. Own 7 Years of East Sacramento Sales: If you bought every single house that sold on MLS in East Sacramento since October 2008, you would still have 600 million left.
  6. Build a Sports Stadium: Most recent professional sports stadiums have ranged in cost from around $500M to $1.5B. For instance, the 49ers new stadium cost around $1.3B and the Sacramento Kings stadium is coming in around $500M. If you buy, what are you going to name it?
  7. Build a Bigger House than that One Guy in India: You may remember hearing about a 27-story residential home that was built in India in 2014. This home can withstand an 8.0 earthquake and it’s the second most expensive home in the world behind Buckingham Palace. Keep in mind it requires a staff of 600 to care for it. The property was said to have cost $1B total, so you have the coin to pull it off (Wikipedia).
  8. Do Some Good: Imagine the good you could do if you won the lottery. But we know that’s not going to happen. The great thing is we don’t have to wait to win Powerball to be generous since generosity is only relative to how much money we have – whether two dollars or $1.5B.

By the way, the winner won’t actually get 1.5 billion. I realize a huge sum is coming off the top right away for taxes and such.

Now let’s look at the latest Sacramento real estate trends.

the market in 2015 in sacramento

Two ways to read THE BIG MONTHLY POST:

  1. Scan the talking points and graphs quickly.
  2. Grab a cup of coffee and spend a few minutes digesting what is here.

DOWNLOAD 78 graphs HERE (zip file): Please download all graphs in this post (and more) here as a zip file (or send me an email). Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share (please don’t copy verbatim). Thanks.

Quick Market Summary: If I had to sum up the market last year I would say: Modest value appreciation, but aggressive demand. If I added a few more details I would say the story of the market is summed up as follows: More sales, lower inventory, higher demand, a fairly normal fall (though far less dull than 2014), and modest value increases over the year. Right now housing inventory is only 1.28 months in the region, which is 32% lower than last year at the same time. Overall sales volume in 2015 was 10.8% higher in the regional market, and it’s important to note FHA volume increased by 30% this year. In December it took 4 days longer to sell a home than it did in November, and that reminds us the market experienced a seasonal softening dynamic even in the midst of more competition. Remember though it was taking 90 days to sell a house four years ago, and selling in less than half the time right now helps us see the market can be different each year depending on inventory, interest rates, the economy, etc…  Overall most of the value increases came in the first two quarters of the year, and the market was fairly flat for the past six months in terms of value. Buyers really haven’t had very many options because of how low inventory has been, but at the same time buyers are exhibiting price sensitivity by not pulling the trigger on overpriced listings. One last aspect worth mentioning is rents have been increasing in many areas in Sacramento, and it’s worth watching this trend.

SACRAMENTO COUNTY:

  1. It took 4 more days to sell a house last month than November (but 7 days less than last year at the same time).
  2. Sales volume was 20% higher this December compared to last December.
  3. Sales volume was 10.9% higher in 2015 compared to 2014.
  4. FHA sales represented 27.5% of all sales during the past quarter.
  5. Housing inventory is 41% lower than it was last year at the same time.
  6. The median price increased by 2% last month (see #6).
  7. The average price per sq ft and average sales price stayed about the same from the previous month (so don’t put too much weight on #5).
  8. The average price per sq ft is 10% higher than last year at the same time.
  9. The median price is 11% higher than it was last year at the same time.
  10. REO sales were less than 4% of all sales last quarter (Short Sales were less than 5%).

Some of my Favorite Graphs this Month:

sales in 2015 2

Median price and inventory since 2011 by sacramento appraisal blog

bottom of market

fha and cash in sacramento county by sacramento appraisal blog - part 2

CDOM in Sacramento County - by Sacramento Appraisal Blog

inventory - December 2015 - by home appraiser blog

REOs and Short Sales in Sacramento County since the bottom

price metrics since 2014 in sacramento county - look at all

SACRAMENTO REGIONAL MARKET:

  1. It took 3 more days to sell a house last month than November, but it was taking one week longer to sell at the same time last year.
  2. Sales volume was 14.5% higher this December compared to last December.
  3. Sales volume was 10.8% higher in 2015 compared to 2014.
  4. Housing inventory is 32% lower than the same time last year.
  5. Cash sales were only 15% of all sales in 2015.
  6. The average price per sq ft, median price, and average sales price showed a slight seasonal dip over the past few months.
  7. The avg price per sq ft is 7.5% higher than last year at the same time.
  8. The median price is 5.6% higher than it was last year at the same time.
  9. REO sales were 3.5% of all sales last month.
  10. Short sales were only 3% of all sales last month in the region.

Some of my Favorite Regional Graphs:

sales volume 2015 vs 2014 in sacramento placer yolo el dorado county

prices in sacramento region - FHA and conventional - by appraiser blog

months of housing inventory in region by sacramento appraisal blog

days on market in placer sac el dorado yolo county by sacramento appraisal blog

median price and inventory in sacramento regional market

interest rates inventory median price in sacramento regional market by sacramento appraisal blog

PLACER COUNTY:

  1. It took 6 more days to sell a house last month than November, but it was taking 5 days longer to sell at the same time last year.
  2. Sales volume was 1% higher this December compared to last December.
  3. Sales volume was 13% higher in 2015 compared to 2014.
  4. Housing inventory is 16% lower than the same time last year.
  5. Cash sales were only 15% of all sales in 2015.
  6. The average price per sq ft, median price, and average sales price showed a slight seasonal dip over the past few months.
  7. The avg price per sq ft is 3.6% higher than last year at the same time.
  8. The median price is 2% higher than it was last year at the same time.
  9. REO sales were 1.8% of all sales last month.
  10. Short sales were only 3% of all sales last month in the region.

days on market in placer county by sacramento appraisal blog months of housing inventory in placer county by sacramento appraisal blog number of listings in PLACER county - December 2015 Placer County price and inventory - by sacramento appraisal blog Placer County sales volume - by sacramento appraisal blog

I hope this was helpful and interesting.

DOWNLOAD 78 graphs HERE (zip file): Please download all graphs in this post (and more) here as a zip file (or send me an email). Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share (please don’t copy verbatim). Thanks.

Questions: How would you spend the money if you won at Powerball? What stands out to you about the latest stats in Sacramento? How would you describe the market? I’d love to hear your take.

If you liked this post, subscribe by email (or RSS). Thanks for being here.

Speaking fluently in real estate cliches

It’s easy to get stuck in a rut of speaking fluently in real estate clichés. While there’s maybe nothing wrong with saying, “The market is ‘on fire'”, or “It’s a good time to buy and sell,” there has to be more depth we can tap into, right? It’s almost like if I asked someone how they were doing, and the person said, “I’m on fire at work” or “It’s a good time to be alive.” Okay, that’s great to hear, but what does that really mean? I want to catch specifics because it’s in the details where I can really know a person. The same is true in real estate. When we step away from vague clichés and begin to speak fluently in current market trends, it can be very powerful. Whether you’re an agent, appraiser, or home owner, I hope you can glean something from this post as you tell the story of the market to clients and contacts, and I’d love to hear your take in the comments below. If you’re not in the Sacramento market, how would you describe your area? Are trends unfolding in similar ways?

CHALLENGE: Share one talking point below with a client or contact today (or include a point in conversation on Facebook).

real estate market cliches - by sacramento appraisal blog - image purchased and used with permission from 123rf dot com

Two ways to read THE BIG MONTHLY POST:

  1. Scan the talking points and graphs quickly.
  2. Grab a cup of coffee and spend a few minutes digesting what is here.

DOWNLOAD 62 graphs HERE (zip file): Please download all graphs in this post (and more) here as a zip file (or send me an email). Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share (please don’t copy verbatim). Thanks.

One Paragraph to Describe the Sacramento Market: The latest stats show a couple of things: 1) The market is slowing down as it almost always does during the fall (no surprise there); yet 2) The market is definitely not as slow as it was last year at the same time. For instance, last month in the region it took one day longer to sell a home than the previous month, which shows the market is cooling, but it’s actually taking ONE WEEK LESS to sell a home this year compared to last year. There is roughly two months of housing inventory in the Sacramento region, which essentially means there are only two months worth of houses for sale on the market. This is very low considering last year inventory was at 2.65 months at the same time. This might not seem like a big difference, but the market is actually VERY sensitive to increases in inventory, which is one of the reasons why the market last year felt much slower (and even sluggish) compared to this year. Many times we hear 5 months of inventory is normal, but keep in mind values have declined any time inventory even approached 4 months in Sacramento County over the past 15 years. Anyway, despite inventory being low right now, buyers are not pulling the trigger unless the price is right. In short, Sellers, if you want your property to sit on the market, overprice it. In terms of values, the overall median price in Sacramento County has been about the same for 6 months and the regional market has softened by 2% in recent months. By the way, if you missed my recent post, I gave some perspective on “real estate bubble” conversations, and it’s a very relevant conversation as we see price metrics begin to soften at this time of year (and people freak out about that).

Sacramento County Market Trends for October 2015:

  1. The median price has been hovering around $290,000 for 6 months in a row.
  2. It took an average of 38 days to sell a house last month (up 2 days from the previous month).
  3. Last year at this time it was taking an average of 45 days to sell a house.
  4. FHA sales were 28.5% of all sales last month.
  5. Sales volume is 9.8% higher so far in 2015 compared to last year.
  6. Sales volume was 7.8% higher in Oct 2015 compared to Oct 2014.
  7. There is a 1.78 month supply of homes for sale (similar to previous month).
  8. Housing inventory is nearly 28% lower right now compared to Oct 2014.
  9. The average price per sq ft is 186.5 (7.1% higher than last October).
  10. Cash sales were only 15.5% of all sales last month (18.5% last year at the same time).

NOTE: The graph below shows an increase in the average price last month, but keep in mind the median price and average price per sq ft were flat (this reminds us to not isolate one metric and make it all about that one point).

price metrics since 2014 in sacramento county

inventory - October 2015 - by home appraiser blog

seasonal market in sacramento county median price

seasonal market in sacramento county sales volume 2

seasonal market in sacramento county inventory 2

CDOM in Sacramento County - by Sacramento Appraisal Blog

layers of the market sacramento county since 2011 - by sacramento appraisal blog

Sacramento Regional Trends for October 2015 (Sac, Placer, Yolo, El Dorado):

  1. It took 7 less days to sell a house this Oct compared to Oct 2014.
  2. Sales volume was up 5.5% in Oct 2015 compared to Oct 2014.
  3. Sales volume for the year is up 10.3% compared with 2014.
  4. The median price at $326,000 is up 6.8% from last year, but down 2% from the past few months.
  5. It took an average of 42 days to sell a house last month (1 day longer than last month).
  6. FHA sales were 24.5% of all sales in the region last month.
  7. There is 2.06 months of housing inventory (same for past 3 months).
  8. The average sales price is $364,829 (7.7% higher than last year, but down slightly from $370K a few months ago).
  9. FHA sales volume has increased by 30% in 2015 compared with 2014.
  10. Housing inventory is nearly 22% lower right now compared to Oct 2014.

sales volume 2015 vs 2014 in sacramento placer yolo el dorado county

prices in sacramento region - FHA and conventional - by appraiser blog

months of housing inventory in region by sacramento appraisal blog

days on market in placer sac el dorado yolo county by sacramento appraisal blog

median price and inventory in sacramento regional market

number of listings in sacramento regional market

Placer County Market Trends for October 2015:

  1. Sales volume was the same in October 2015 compared to October 2014.
  2. Sales volume for the year is up 14% compared with 2014.
  3. The median price in Placer County is $397,500 (it’s been fluctuating up and down between $390-400K over the past 6 months).
  4. Cash sales were 16.8% of all sales last month (very normal level).
  5. It took 47 days on average to sell a house last month (1 day longer than the previous month month).
  6. Last year at this time it took 7 days longer to sell a house.
  7. FHA sales were 18.6% of all sales in Placer County last month.
  8. There is 2.26 months of housing inventory (18% lower than last year).
  9. The average price per sq ft is 201 (3.6% higher than last year at the same time).
  10. REOs were 2.4% of all sales and short sales were 3.6% of all sales.

Placer County sales volume 2 - by sacramento appraisal blog

number of listings in PLACER county - October 2015

months of housing inventory in placer county by sacramento appraisal blog

days on market in placer county by sacramento appraisal blog

Placer County price and inventory - by sacramento appraisal blog

interest rates inventory median price in placer county by sacramento appraisal blog

I hope this was helpful. Thank you so much for being here.

Quick Pricing Advice:

  1. Remember the market isn’t as soft this year as it was during the same time last year, but we are still seeing values cool during the fall.
  2. Talk about the difference between actives, pendings, and neighborhood sales on your listing appointments and in your appraisals. If listings are selling for less than sales from the Spring market, that shows us the market has changed (and we need to price accordingly). See How to use a CMA to gauge the temperature of the market for a fantastic way to quickly explain what the market is doing to your clients.
  3. The market has been very price sensitive all year, which means buyers are not biting on overpriced listings despite inventory and interest rates being relatively low.
  4. Remember there are many markets within a market, so price according to the neighborhood market rather than county-wide trends since your neighborhood might be more or less aggressive compared to the entire county.

DOWNLOAD 62 graphs HERE (zip file): Please download all graphs in this post (and more) here as a zip file (or send me an email). Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share (please don’t copy verbatim). Thanks.

Questions: How does the market feel to you this year compared to last year? What are you seeing out there? I’d love to hear your take.

If you liked this post, subscribe by email (or RSS). Thanks for being here.

Packing a market punch in Sacramento

It’s easy to say things like, “The market is on fire” or “Buyers are hungry out there”. Yet I find vague statements don’t pack much of a punch. It’s far more powerful when we get specific. For instance, did you know sales volume is up almost 10% this year so far? Or FHA buyers were 28% of all sales this past quarter in Sacramento County? Those stats carry some weight and bring me pause.

sacramento appraisal blog - image purchased and used with permission from 123rf dot com

Goal of the Big Monthly Post: The goal of this big market update is to help highlight what the market is doing and help us describe it a bit better. If you’re local, absorb what is here and share some of the talking points below with your contacts. If you’re out of town, I’d love to hear about your market also. Email subscribers, I recommend reading this post on the blog instead of email.

Two ways to read this post:

  1. Scan the talking points and graphs quickly.
  2. Grab a cup of coffee and spend a few minutes digesting what is here.

One Paragraph to Describe the Sacramento Market: The first half of 2015 is now over, and all year buyers have expressed a huge appetite for the market. Sales volume is up about 10% in the region, and pendings have routinely been 20%+ higher each month this whole year. Sales volume in June was actually higher than it’s been in about three years. More sales has led to inventory declining, though it’s important to note more listings have definitely been hitting the market (and there have been more price reductions too). While many properties are generating multiple offers and selling very quickly, buyers are also finicky about pulling the trigger on anything that is not well-priced or with an adverse location or condition. Some sellers are severely overpricing their homes too. The median price stayed about the same last month compared to the previous month. One of the biggest factors shaping this market is the power of FHA buyers who now represent 23% of all sales in 2015 in the Sacramento region (and 27.5% of all sales last month in Sacramento County). The byproduct of more FHA buyers is stiff competition at the lower end and higher offers too (this makes overall housing stats look more impressive). As housing inventory presumably begins to increase over the next few months (as it did last year), watch out for price reductions, unrealistic expectations from sellers, and buyers gaining more power.

DOWNLOAD 64 graphs HERE (zip file): Please download all graphs in this post (and more) here as a zip file (or send me an email). Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share.

Sacramento County Market Trends for June 2015:

  1. The median price at $290,500 is 7.5% higher than one year ago (June 2014).
  2. It took an average of 30 days to sell a house last month (35 in May).
  3. Cash sales were 16% of all sales during Q2 2015 (31% in 2013).
  4. Short sales were only 5.1% of all sales in Q2 2015.
  5. REOs were only 5.3% of all sales in Q2 2015.
  6. FHA sales were 27.9% of all sales in Sacramento County in Q2 2015.
  7. Sales volume is 17.5% higher this June compared to last June.
  8. There is 1.6 months of housing inventory (2.1 months last June).
  9. The average price per sq ft is 186 (8% higher than last June).
  10. The average sales price is $323,082 (9.8% higher than last year).

price metrics since 2014 in sacramento county

inventory - June 2015 - by home appraiser blog

REOs and short sales in sacramento county - by sacramento appraisal blog

CDOM in Sacramento County - by Sacramento Appraisal Blog

cash sales - sacramento appraisal blog

cash and fha under since 2009 - sacramento appraisal blog

sales volume in Sacramento County

Median price and inventory since 2011 by sacramento appraisal blog

Sacramento Regional Trends for June 2015 (Sac, Placer, Yolo, El Dorado):

  1. Sales volume was up 17% in June 2015 compared to June 2014.
  2. Sales volume for the year is up 9.6% compared with 2014.
  3. The median price at $332,250 is 7.1% higher than one year ago (June 2014).
  4. FHA sales are up 31% this year so far.
  5. Cash sales were roughly 16% of all sales last month.
  6. It took an average of 33 days to sell a house last month (37 days in May).
  7. FHA sales were 23.7% of all sales in the region last month.
  8. There is 1.85 months of housing inventory (1.92 months in May 2015).
  9. The average sales price is $370,013 (7.9% higher than last year).
  10. It took 4 less days to sell a house this June compared to June 2014.

median price and inventory in sacramento placer yolo el dorado county

volume cash and conventional in region by sacramento appraisal blog

months of housing inventory in region by sacramento appraisal blog

days on market in placer sac el dorado yolo county by sacramento appraisal blog

median price and inventory in sacramento regional market

interest rates inventory median price in sacramento regional market by sacramento appraisal blog

Placer County Market Trends for June 2015:

  1. The median price in Placer County is $401,000.
  2. The median price is 5.5% higher than one year ago (June 2014).
  3. It took 36 days on average to sell a house last month.
  4. Cash sales were 14% of all sales last month.
  5. FHA sales were 17.8% of all sales in Placer County last month.
  6. Sales volume was 31% higher this May compared to last May.
  7. Sales volume is up 18% in 2015 compared to last year.
  8. There is 1.88 months of housing inventory (2.76 months last June).
  9. The average price per sq ft is is 200 (up from 184 last June).
  10. The average sales price is $454,643 (8% higher than June 2014).

Placer County sales volume - by sacramento appraisal blog

months of housing inventory in placer county by sacramento appraisal blog

days on market in placer county by sacramento appraisal bloginterest rates inventory median price in placer county by sacramento appraisal blog

Placer County median price since 2012 - by home appraiser blog

Placer County median price and inventory - by home appraiser blog

I hope this was helpful. Thank you so much for being here.

DOWNLOAD 64 graphs HERE (zip file): Please download all graphs in this post (and more) here as a zip file (or send me an email). Use them for study, for your newsletter, or some on your blog. See my sharing policy for 5 ways to share.

Home Office Progress: I’ve been sharing some progress on my new home office. It’s been so much fun to build and now customize. Last week I finished some cork boards and hung crown moulding. Yes, I know I need to upgrade my chair (coming soon) and have multiple monitors (coming soon).

my home office

Questions: How do you think sellers and buyers are feeling about the market right now? What are you seeing out there?

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