Sacramento County reported
a median January sales price of $345,500, down 6.6 percent from the same time
last year. Placer County median $423,500 sales price – median is the point
where half of homes sold cost more and half less - was down 10.8 percent from
January 2006. The newest statistics reflect the continuation of a housing
slowdown that began in late summer 2005 after five booming years that saw
prices more than double. Many area homebuilders, meanwhile, reported opening
more escrows in January than a year ago as incentives and price cuts attract buyers.
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The 2007 Sacramento-area real estate season opened last month with 2,522
greater Sacramento area home sellers closing escrow successfully. That is the lowest January number since 1998, according to La
Jolla-based DataQuick Information Systems. January's total of 2522 compared to 3,113 December closings
of new and existing homes in Amador, El Dorado, Nevada, Placer, Sacramento,
Sutter, Yolo and Yuba counties and 2,999 in January 2006, DataQuick
reported. The December to January decline reflects a normal seasonal pattern,
DataQuick said. January's escrow closings reflect homes sales initiated in late
2006. The Bay Area and Southern California also reported the fewest January
closings since the late 1990s, according to DataQuick. Median sales prices,
meanwhile, continued a months-long trend of being lower than the same time a
year ago in seven of eight Sacramento-area counties. Only Nevada County with
107 closings saw higher sales prices than January 2006.
Sacramento County reported
a median January sales price of $345,500, down 6.6 percent from the same time
last year. Placer County median $423,500 sales price – median is the point
where half of homes sold cost more and half less - was down 10.8 percent from
January 2006. The newest statistics reflect the continuation of a housing
slowdown that began in late summer 2005 after five booming years that saw
prices more than double. Many area homebuilders, meanwhile, reported opening
more escrows in January than a year ago as incentives and price cuts attract buyers.
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