The Sacramento Real Estate Market report for resale in September continued to show the cool down that we have been experiencing for a year. The stats for September show that we are down by 6.7% from August and down 38.1% from a year ago.

The median price for a home in Sacramento is for September is $363,000 which is down 5.7% compared to September of 2005.

Listings went down 12.3% from August which suggests that many Sellers took  their homes off the market and to wait, rather than reduce their prices.

The 6% drop in prices should not be considered anything but an adjustment since the economy is stable and interest rates are reasonable.

Condominium listings were down 17.4% and closed sales were down 6.9% which is 36% below September 2005. The median price for a condo is $237,000 which is 4% lower than 2005.