In September the number of Sacramento homes sold went down 7.3% from the end of last quarter: from 1,729 sold in June to 1,602 in September.  They went up 13.7% from 1 year ago.  The average price went down 1% to $185,745 from June and dropped 8% from September last year. 

On average approximately 25% of homes available for sale sold in the month of September.  They averaged a 5.2% drop in price before they sold.

In September the average number of marketing days was 67.  REOs (foreclosed homes) sold the fastest at 37.7 days on market average.  Conventional were next with 53 days average.  Short sales took an average of 127 days; a result of having to wait for the short selling lender to respond positively to the offer.

The Graph above charts the price of sold homes by seller type for Sacramento County.  It shows that sale prices are about as low as they have ever been during this downturn.

At the beginning of September 7,519 single family homes were listed for sale on the MLS (Multiple Listing Service).  Additionally there were 2,392 properties that are pending sale, and 1,972 contingent short sales (short sales with accepted offers that are waiting for the seller’s lender approval to sell the property).  The inventory for available properties is 3.36 months.  The average time on market before receiving an accepted offer was 64 days.

During September 1,409 homes sold, that is 18.7% of the available inventory of homes.  The average sold price is $201,673, a 2.57% drop from August 2010, and a 1.9% drop from September 2009.  The median price is $180,000.   The average number of square feet in the homes that sold is 1,705ft. And the average price per square foot is 117 $/sqft.