A look at the February numbers for the four county
DataQuick, the research firm that follows and reports the real estate numbers, indicated all four counties,
The sales volume was also up slightly from January to 1,743 homes sold in the area. Although this number is up from January it remains 26% lower than February 2005.
Inventory of homes on the market continued to grow. At the end of January there were 9,267 homes on the market. The number available in February increased to 9,870. A year ago there were only 3,554 homes to choose from. The average number of days on the market for homes sold in February was 58 days compared to last year when it took an average of 37 days to sell.
In some of the local areas, where I have been working recently, the median price increases from last year were almost all positive. El Dorado Hills median price in February increased to $606,500, up 9.3% from last year but down from January. In Rocklin, zip codes 95677 and 95765 we saw price appreciation of 34.4% and 7.9% respectively from last year and both areas were up from last month in terms of price and volume. The three zip codes in Roseville. 95661, 95678, and 95747 all had increases in the median price fro last year and from January. Sales volume was down double digits from 2005 and flat compared to January numbers. Granite Bay, zip code 95748, reported 11 sales, down from last year and January. The median price paid in February for a Granite Bay home was $730,000, down 3.2% from a year ago but up $20,000 from last month. For more detail, take a look at the chart by Zip Code produced monthly by the
The January numbers were to early to tell how the 2006 real estate market in
Based on my personal business and talking with collogues the past few weeks, the steam we started to feel building in mid January and early February has been dampened by the last three weeks of winter weather. The rain and cold seems to be keeping buyers inside or at least not driving from the bay area. Right now, I am not feeling as bold as I was last month when I made three positive predictions. Even though I was right about modest growth in the median price and increased sales volume, I was wrong in predicting a slight decrease in the inventory of homes for sale. With the prediction for more rain, I dont think we are going to see February as the start of a new positive trend for the year. I will predict, when the rain ends and warmer weather gets here, there should be a nice surge in activity as the buyers start getting out and looking again.
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