The median price for a Sacramento County home in August was $176,500.
"That was up 10.3% from a year ago. It was also the third month in a row we've seen that median sales price for existing single family detached rise."
Andrew LePage is with DataQuick, the research firm that
released the numbers. He says the price increase isn't just because
home values are going up. It's also because more people are buying
mid-to-high-end properties.
"Fewer of the homes selling today are foreclosed
properties. Those tend to be in more affordable areas to begin with
and often are heavily discounted."
The DataQuick figures show that in Sacramento County last
month only one-out-of-four homes that re-sold were foreclosed
properties…the lowest level in five-years.
LePage says - we're through the worst of the foreclosure
crisis. The question now is how quickly the market will sell-off
what's left of the distressed housing inventory.
