TRENDGRAPHIX MONTHLY
REAL ESTATE REPORT
BROUGHT TO YOU BY
Lyon Real Estate
3640 American River Drive, Suite
100, Sacramento, CA 95864
F O R I M M E D I A T E R E L E A S E
January 26, 2010
CONTACT:
Michael Lyon
CEO
(916) 978-4266
FAX (916) 481-7592
Bank-Owned
Inventories on the Rise
After a full
year of numerous government moratoriums on foreclosures, we ended 2009 seeing a
22% increase in the number of foreclosed homes entering the market in December;
and we expect at least a 15% increase in foreclosed homes on the market in
2010.
The average sold price of foreclosed homes has risen from $198,000 to
$206,000 and prices for homes under $300,000 continue to appreciate at rates
seen before the 2005 real estate market crash. “We do not see this slowing in
the near future until interest rates rise by midyear”, said Michael Lyon, CEO
of Lyon Real Estate. “This is largely due to both strong demand by investors
and first-time home buyers taking advantage of federal tax credits.”
That being said, homes priced above $300,000 in Sacramento
County and above $400,000 in Placer, El Dorado and Yolo
counties remain soft and many homes away from job markets risk continued
depreciation.
TRENDGRAPHIX’s
latest report shows that sales decreased 1 percent during the month of December
for the Tri-County region of Sacramento, Placer
and El Dorado Counties. December 2009 sales were 22
percent lower than December 2008 sales.
Pending sales increased by 15 percent from November to December 2009.
December
2009 inventory of 5,758 homes
for sale is 46 percent lower than December
2008 inventory. This is a 62 percent
decrease for the regional inventory record high of 15,302 set in August 2007.
COUNTY HIGHS AND
LOWS
Sacramento County sales increased
1 percent from November to December 2009. Inventory increased 4 percent during
the month of December. Pending sales increased
by 13 percent in the month of December. 54 percent of the homes sold for under
$200,000; 39 percent of the homes sold for between $200,000 and $400,000; and 7
percent of the homes sold for over $400,000.
The average price per square foot decreased by 1 percent during the
month of December to $124.
Placer County sales decreased
by 7 percent and inventory decreased by 6 percent during the month of December 2009.
Pending sales increased by 26 percent from November to December. 5 percent
of the homes sold for under $200,000; 48 percent of the homes sold for between
$200,000 and $400,000; and 47 percent of the homes sold for over $400,000. The
average price per square foot decreased 5 percent during the month of December to $145.
El Dorado County showed a 9 percent decrease in sales from November to
December, and the inventory decreased
by 11 percent from November to December.
Pending sales have increased 27 percent during the month of December. 20 percent of the homes sold for under
$200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 33
percent of the homes sold for over $400,000.
The average price per square foot decreased 1 percent during the month
of December to $151.
Yolo County sales decreased
by 7 percent for December 2009 and
the inventory decreased by 6 percent. Pending
sales decreased 4 percent during the month of December. 34 percent of the homes
sold for under $200,000; 49 percent of the homes sold for between $200,000 and
$400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot decreased 2
percent during the month of December
to $150.
Nevada County sales have increased
by 5 percent during the month of December,
and inventory decreased 8 percent.
Pending sales decreased by 64 percent. 2 percent of the homes sold for
under $200,000; 42 percent of the homes sold for between $200,000 and $400,000;
and 56 percent of the homes sold for over $400,000. The average price per square foot decreased
by 2 percent during the month of December
to $188.
San Joaquin County sales have decreased
by 2 percent during the month of December,
and inventory increased 8 percent from November to December. Pending sales increased 19 percent. 39
percent of the homes sold for under $200,000; 47 percent of the homes sold for
between $200,000 and $400,000; and 14 percent of the homes sold for over
$400,000. The average price per square
foot increased 2 percent during the month of December to $101.
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About Trendgraphix, Inc.
Trendgraphix, Inc. is a real estate reporting company based in Sacramento that uses local MLS data to
provide highly-visual market statistical graphs to real estate brokers,
agents, and MLS/Realtor associations across the USA. Trendgraphix's
programs are currently used by tens of thousands of agents in more than
100 brokerages in 18 U.S.
states. For more information visit www.TrendGraphix.com
or email mcarter@trendgraphix.com