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It is hard to believe that 2008 home sales for Sacramento and Yolo Counties were up 81% from 2007. Is this proof that Sacramento truly was the hardest hit for foreclosure? My guess is that when investors realized that they could buy distressed and foreclosed properties at less than the cost to build, and they could once again start to accrue rental properties for ABOVE WATER prices, Rich Dad/Poor Dad started all over again.
Side note: an agent in our office just wrote an offer for a home in Tahoe Park that was listed for $33,000. You could buy a home in California on your credit card – providing you were the winner in multiple offers.
Sacramento and Yolo Counties 2007 2008 %
Number of homes sold 6,695 12,132 +81%
Median price 330,000 212,000 -36%
Average price 369,000 236,000 -36%
Best performing Average price % Change from 2007
Davis $535,000 -6%
East sac/midtown $416,000 -9.5%
Granite Bay $802,000 -12.8%
Folsom $423,000 -13.7%
El Dorado Hills $571,000 -16.4%
South Land Park $412,000 -18%
Roseville $339,000 -19%
Worst performing Average price % Change from 2007
Sac – Arden Park $163,000 -45%
Madison/Esparto $208,000 -43%
North Highlands $117,000 -42%
Sac – Florin $193,000 -40%
Sac – Natomis $209,000 -36%
Our office, Coldwell Banker Doug Arnold Real Estate had a stunning 62% market share in Yolo County. The next highest market share for a region was just 29% and that went to the Lyon office in South Land Park.
Stay tuned for more specific year end results for Davis.
-Jamie Madison, 530.574.0596
The Davis Real Estate blog is published by Jamie Madison. Jamie is a Coldwell Banker realtor in Davis, California.
