Some August Results for Sacramento

I found some early August results for Sacramento County. According to MLS the median price paid was $404,062 which is down 3.9 percent form last August median of $380,000. The volume of sales declined dramatically, down 52.5 percent to 1,130 homes sold. In August the per square foot sold price was down 2.8 percent. Of note is the rapid increase in the number of expired listings. This August 1,085 listing expired compared to 346 last year and almost equaled the number of homes sold.

In other news the Sacramento Bee ran a story yesterday on the National real estate market, “Home prices rising after 2Q slowdown.” The story points out U.S. home prices continued to rise in the second quarter but showed the biggest slowdown in decades.