Sacramento Real Estate Statistics for February: Single Family Market

Yesterday I wrote about how pending sales are higher all over the country and the National Association of Realtors expects a housing recovery beginning in sometime late 2008. Nice to know some of the statistics from Sacramento county tell the same story.

The latest numbers from the Metrolist MLS for the month of February:

The median price has steadied, it seems, at least for this month - $255,000 it remains, the same as January's median price.

2155 new listings were added to the market and 864 sold, pushing existing inventory to 8749, a smaller number than January's 9042 actives. This brings existing home inventory to about 10.1 months, down from last month's 11.9.

Here's another caveat, however. Pending sales were higher again - a total of 1474 houses went into contract in February - 21% more than January's pending sales, which were already higher than December's. I hear rumbling underneath the surface! If all these pending sales go through inventory numbers could look very different next month!

Also read: January's numbers; December's numbers, and November's numbers for Sacramento real estate.