Market Statistics for Single Family Residences for March

Good news, everyone.

We have bounced off the bottom, even if it be ever so slightly. Here are the details on Sacramento county's real estate market recovery in March, 2008.

Median price remains steady (or almost steady) at $254,000. It has hovered around $255,000 since January.

2332 new listings were added to the market and 1006 sold. Existing inventory now stands at 8632, smaller again than January or February's. We now have 8.5 months of inventory on the market, a change of 15.84% over February and of 28.6% over January!

More good news - 2021 homes went in escrow in the month of March, a whopping 37% higher than pending sales in February, which were already higher than January, which were higher than... well, you get the idea.

So... median prices have steadied, inventory is down and sales are up! The Sacramento real estate market recovery has begun.

Also read: January's numbers; February's numbers and come back tomorrow for updates on the Sacramento condo market.