Condos have fared exceptionally well in terms of price this last month and sales have gone up as well, although not exceptionally.
Last month I said that the Sacramento real estate market was beginning to show very early signs of recovery. Now now, before you shake your head, think about this: summer has usually been the time most homes sell or go into escrow. Summer statistics this year were abysmally depressing, however in the more laid-back time, the buyers are heading out. Perhaps a Christmas gift this year involves a house or two?
Look at the numbers:
Median price of condos in October: $206,000.
Median price of condos in November: $228,700 - that is an increase of 11% - not a small number!
56 condos sold in the month of November and 66 were pending sale - in terms of sales, that is an increase of 33% in sales.
Wednesday, December 5, 2007
Sacramento Market Statistics for Condos
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1 comments:
I think it's never too early to start predicting the recovery. That way when the market turns, you can say "See, I told you it was turning". :)
On the flip side, as soon as it started going down in 2005, people said I'd be out of business "in a year". Well, here it is 2007. Maybe they really meant some time in the future, like when I retire.
Really I suspect we know as much about the future as we ever did, which is to say, nothing.
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