Inventory Decline with Increase Pending Sales
Sales for the tri-county area are up with pending sales that continued to
increase through the end of 2010. Inventory totals declined in December but
remain higher than a year ago. The largest number of home sales occurred
under $200,000; but there has also been a recent upsurge in the $200,000-
$400,000 price range. However, sales over $400,000 only represented 5%
of total sales. “Moving forward, it appears home sales should pick-up in
2011”, stated Jim Waters, VP & Regional Manager of Lyon Real Estate. “We
should continue to see a large number of short sales and foreclosure
properties dominate the market place. Financing rates have remained stable
and that should help to drive the market in the coming months.”
TRENDGRAPHIX’s latest report shows that sales increased 5 percent
during the month of December for the Tri-County region of Sacramento,
Placer and El Dorado Counties. December 2010 sales were 11 percent lower
than December 2009 sales. Pending sales increased by 16 percent from
November to December 2010.
December 2010 inventory of 7908 homes for sale is 43 percent higher
than December 2009 inventory. This is a 49 percent decrease for the
regional inventory record high of 15,357 set in August 2007.
COUNTY HIGHS AND LOWS
Sacramento County sales increased 9 percent from November to
December 2010. Inventory decreased 3 percent during the month of
December. Pending sales increased by 17 percent in the month of
December. 59 percent of the homes sold for under $200,000; 36 percent of
the homes sold for between $200,000 and $400,000; and 5 percent of the
homes sold for over $400,000. The average price per square foot decreased
0.8 percent during the month of December to $117.
Placer County sales increased by 2 percent and inventory decreased
by 4 percent during the month of December 2010. Pending sales increased
by 15 percent from November to December. 20 percent of the homes sold
for under $200,000; 59 percent of the homes sold for between $200,000
and $400,000; and 20 percent of the homes sold for over $400,000. The
average price per square foot decreased by 4 percent during the month of
December to $138.
El Dorado County sales decreased by 17 percent, and the inventory
decreased by 7 percent from November to December. Pending sales have
increased 12 percent during the month of December. 29 percent of the
homes sold for under $200,000; 42 percent of the homes sold for between
$200,000 and $400,000; and 30 percent of the homes sold for over
$400,000. The average price per square foot remained the same during the
month of December at $138.
Yolo County sales increased by 37 percent for December 2010 and
the inventory decreased by 5 percent. Pending sales increased 13 percent
during the month of December. 36 percent of the homes sold for under
$200,000; 47 percent of the homes sold for between $200,000 and
$400,000; and 18 percent of the homes sold for over $400,000. The
average price per square foot increased 3 percent during the month of
December to $144.
Nevada County sales have increased by 37 percent during the month
of December, and inventory decreased 11 percent. Pending sales decreased
by 10 percent. 22 percent of homes sold for under $200,000; 62 percent of
the homes sold for between $200,000 and $400,000; and 16 percent of the
homes sold for over $400,000. The average price per square foot decreased
by 11 percent during the month of December to $151.
San Joaquin County sales have increased by 8 percent during the
month of December, and inventory decreased by 3 percent in December.
Pending sales increased 19 percent. 68 percent of the homes sold for under
$200,000; 29 percent of the homes sold for between $200,000 and
$400,000; and 3 percent of the homes sold for over $400,000. The average
price per square foot decreased 4 percent during the month of December to
$94.
Monday, February 14, 2011
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