Research firm DataQuick says the median home price in April was
$210,000 - up from $205,000 in March and a 32.1% increase from
April of last year.
Andrew LePage is with DataQuick:
"Part of its home price appreciation as a lot of people
chase not enough homes on the market and then part of its just the
big change in market mix."
The change, LePage says, is that there's been a steep decline
in the share of sales that are foreclosed properties. Another thing
bringing up the median price is that people are buying more
"Sales below $200,000 were down 27% from a year ago, sales
in the $300,000 to $800,000 range, a typical move-up range, were
almost double, they were up 91%."
LePage says the data continue to show an above average level
of investor and cash-buying.
"…38.6% of all homes sold went to absentee-buyers which is
mainly investors...38.2% of the homes sold went to buyers paying
cash, most of those would be investors."
LePage says 2,114 homes sold in Sacramento County last month,
up only 4.4% from a year ago and below average…but still the
highest April sales count in four-years.