Sacramento April 2009 Real Estate Statistics

Hmm...what's going on here? The median real estate price point in Sacramento County has been pretty even for the last four months in a row.

Supply and demand is a pretty basic economic principle...if you look at the number of homes on the market versus the number of homes that closed escrow in April 2009, there is only a 2.5-month supply of homes on the market. These inventory numbers are really interesting if broken down into different price ranges...in the $200k and below price range, last month there was just 1.6 months of inventory. Between $200k - 500k, there was 3.3 months of inventory. Over $500k, there was 13.6 months of inventory!! The market is very brisk and competitive in the lower price ranges. For a reference point, 6 months of inventory is widely regarded as a market with buyer/seller equilibrium.

Just to flash back...in September 2007, the overall supply of homes in Sacramento County had reached / peaked at 15 months.

Please keep in mind that not all areas and neighborhoods are affected in the same way...if you would like me to email you statistical graphs for a specific zip code, feel free to email me at erin@erinattardi.com.