Home Prices in Sacramento County Down Slightly in May
by Rick Delgado
on Wednesday, June 8th, 2016 at 10:38am.
Looks like the average home price in Sacramento and El Dorado Counties has trended slightly downward in May, while single-family homes in Placer County have basically remained unchanged.
In Sacramento County, the median list price of single-family homes selling for less than $250,000 dropped 2.75% to $209,000, while single-family homes listed for more than $250,000 dropped 4.24% to $416,553.
Meanwhile, condos and townhomes in Sacramento saw a large jump in price - 10.12% for units listed at more than $100,000. The new median price is now $234,000, showing these residences are in high demand.
Then there's the average price of condos and townhomes (listed for more than $200,000) in El Dorado, which has jumped big time by some 62.99% to an average list price of $419,289. The median list price on these residences is far more stable with an 8.09% jump to $254,000.
Inventory is very limited for condos in El Dorado, with just 13 active listings on units selling for more than $200,000. Same for Placer County, where there are just 18 listings of condos/townhomes selling for less than $200,000.
Interestingly, condos in Placer County that are listed for less than $200,000 saw a fairly large drop in median price (down 13.99%) to $129,000, despite limited inventory.
Right now, single-family homes (listed for more than $400,000)in El Dorado County are selling for the highest median list price at $689,000, compared with $619,900 in Placer County.