Let’s look at where the Sacramento market has been in 2013 under $200,000. Some would call this the bottom of the market, which is true since the median sales price in Sacramento County has been hovering right at $200,000 lately. The “median” is basically the number in the middle of all data, which means half the sales in the county are above $200,000 and half are below.
Let’s look at the market today – the entire bottom half.
Take the March stats with a grain of salt because March is barely half way over, but let’s focus on the numbers for all of 2013 so far. It’s amazing to see that 49.79% of all single family detached sales under $200,000 in Sacramento County have been cash purchases. Even more striking is when we include condos and halfplexes in this figure, the number jumps to 52.5%. How high will it go?
What are you seeing out in the market right now? Any insight?
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