There’s more good news for the San Francisco housing market despite statistics released earlier this month from the National Association of Realtors projecting 6 straight quarters of year-over-year existing home median price declines which would end in Q1 of 2008. Our San Francisco housing statistics were as follows for June 2007: For Sale Median Price of $799,000, Under Contract Median Price of $829,000, Sold Median of $899,000 leading to a new Median Price of $799,888 for the month. Comparing June of 2007 to June 2006, we had a 10.64% drop in the amount of inventory for sale, however we had a .97% increase in the amount of property in contract. Good news! Overall, however there were 114 less properties sold in June 2007 than in June 2006 for a 16.43% drop. This can partly be attributed to tighter lending standards. More deals are falling out of contract these days due to the inability of the buyers to obtain financing.

Once again, the take home message with the S.F. market is that property values are holding, despite increased inventory, longer days on market, and lower sales volume. San Francisco is a wonderful place to live, work in, and visit—and apparently there are others who agree.

The latest issue of Economy Watch from the Sacramento Regional Research Institute indicates that while the Sacramento Region saw a slight drop in job growth in May compared to the previous month, growth has remained above 2 percent, and the Sacramento Region remains above the Bay Area, statewide, and national averages.

Government led all major sectors with the greatest job gains in the Sacramento Region followed by the Educational and Health Services sector, and Professional and Business Services sector.

The steady job growth and the buyer-friendly housing market make the Sacramento Region an attractive place to live.

The city of Elk Grove, founded in 1850 and located just south of the city of Sacramento, is a fast-growing community with a lot to offer residents of the Sacramento region. Like other communities in the region, Elk Grove is within easy driving distance to both the Sierra Nevada Mountains and the San Francisco Bay Area.

The community has preserved open space such as the Cosumnes River Preserve and the Stone Lakes Wildlife Refuge, and created parks to ensure that even as it grows, Elk Grove retains its natural beauty. The city is also home to cultural events such as the Johann Strauss Festival, Dickens Faire, and Community Harvest and Giant Pumpkin Festival. 

Elk Grove offers a broad range of properties from starter homes, condos, new home developments, and ranch estates.  Here at New Condos Online, you can find information about the Somerfield and Laguna Pointe condo developments.

And we at the Marilyn Goff Team couldn't be happier!

To begin with, stop thinking that the real estate market is in a tail-spin and getting worse every day. For the Sacramento Region, this is just not true. Has there been a downturn in list prices? Absolutely. A downturn was needed. Like any commodity, from stocks to houses, runaway prices do not benefit the majority of consumers. The housing market has stabilized and now is a great time to buy. Will prices go lower? Only on those homes that were grossly overpriced to begin with. Buyers are in a good position in this market to negotiate a home to a correct price.

Easy to do? Nope. And this is why you need to be working with an experienced real estate agent.

The Sacramento Region is a great place to live and work and now is an excellent time to buy.