Amador County - Mortgage Default Association DataQuick said Thursday that the median sale price for a home in the Sacramento region dropped to $185,000 last month. The findings were similar throughout the eight county region of Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba. This is the lowest level since September 2001 and reflects a $10,000 drop in one month. In one year, average home prices have fallen $105,000, or 36 percent. Escrows closed in Amador County dropped from 36 in November of 2007 to 20 one year later. That’s a 44.4 percent drop, the second highest in the region. Dataquick says what is unclear is whether falling mortgage rates can help strengthen the region’s housing market. “November actually held up pretty well, all things considered,” said DataQuick analyst Andrew LePage. He said about 56 percent of sales of existing homes in California last month were foreclosed properties. Story by Alex Lane (This email address is being protected from spambots. You need JavaScript enabled to view it.).
Monday, 22 December 2008 03:02
Sac Median Home Sales Down to $185K
Amador County - Mortgage Default Association DataQuick said Thursday that the median sale price for a home in the Sacramento region dropped to $185,000 last month. The findings were similar throughout the eight county region of Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba. This is the lowest level since September 2001 and reflects a $10,000 drop in one month. In one year, average home prices have fallen $105,000, or 36 percent. Escrows closed in Amador County dropped from 36 in November of 2007 to 20 one year later. That’s a 44.4 percent drop, the second highest in the region. Dataquick says what is unclear is whether falling mortgage rates can help strengthen the region’s housing market. “November actually held up pretty well, all things considered,” said DataQuick analyst Andrew LePage. He said about 56 percent of sales of existing homes in California last month were foreclosed properties. Story by Alex Lane (This email address is being protected from spambots. You need JavaScript enabled to view it.).
