Median Home Price Down In Sacramento Area

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(Sacramento, CA)
Thursday, January 17, 2008

DataQuick Information Systems says the median price fell to $280,000 last month…compared with $350,000 in December of 2006.

DataQuick analyst Andrew LePage says sellers are anxious.   

"People who don’t have to buy are not and what we’re left with are a lot of sales that are pretty stressed. Many of them including people who are facing foreclosure and then lenders who’ve taken homes back, and there are quite a few of these right now in the Sacramento region, so they’re very motivated to sell."  

Meanwhile, home sales in the Sacramento area fell nearly 24% compared to December of 2006. It was the lowest sales total for any December in more than 20 years.