CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Tons of Pending Escrows but Closings Slow

TRENDGRAPHIX’s latest report shows that sales decreased 12% during the month of April for the Tri-County region of Sacramento, Placer and El Dorado Counties; which is 13% lower than April 2009 sales. However, pending sales increased by 34% from March to April 2010.

“Industry experts really have no explanation as to why so many closings were pushed from April into May”, said Michael Lyon, CEO-Lyon Real Estate. “The rate of new sales continues to accelerate, but this increase is not represented in all price-points. When looking at the Months of Inventory per Price Bracket statistics, it shows that lower priced properties have too little inventory and high priced properties have too much.”

For the Four County area, they are as follows:

Price	Months of Inventory based on Closed Sales
0 - $200,000	2 months
$200,000 - $400,000	3.5 months
$400,000 - $750,000	6.5 months
$750,000 +	20 months

April 2010 inventory of 6,802 homes for sale is 20% lower than April 2009 inventory. This represents a 56% decrease from the regional inventory record high of 15,302 set in August 2007.  

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 15 percent from March to April 2010. Inventory increased 2 percent during the month of April. Pending sales increased by 34 percent in the month of April. 56 percent of the homes sold for under $200,000; 39 percent of the homes sold for between $200,000 and $400,000; and 5 percent of the homes sold for over $400,000. The average price per square foot increased 3 percent during the month of April to $125.       

Yolo County sales decreased by 1 percent for April 2010 and the inventory increased by 10 percent. Pending sales increased 18 percent during the month of April. 35 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot increased 3 percent during the month of April to $160.

Nevada County sales have decreased by 5 percent during the month of April, and inventory increased 7 percent. Pending sales increased by 77 percent. 8 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 43 percent of the homes sold for over $400,000. The average price per square foot decreased by 7 percent during the month of April to $170.

San Joaquin County sales have decreased by 10 percent during the month of April, and inventory remained at 1766 in April. Pending sales increased 22 percent. 38 percent of the homes sold for under $200,000; 51 percent of the homes sold for between $200,000 and $400,000; and 11 percent of the homes sold for over $400,000. The average price per square foot increased 2 percent during the month of April to $101.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

34% Sales Spike in March 

TRENDGRAPHIX’s latest report shows that closed sales increased 34% during the month of March for the Tri-County region of Sacramento, Placer and El Dorado Counties; representing a 6% decrease in sales compared to March 2009. The recent surge was accompanied by a 51% increase in pending-sales since last month. “This abnormal spike in sales can be credited directly to  three basic factors: a shortage of inventory, a rush to utilize the soon-to-expire federal home purchase tax deduction and interest rates remaining in the low 5% range,” stated Michael Lyon, CEO, Lyon Real Estate. “In addition, the State of California is launching its new 2010 New Home Credit and First-Time Buyer Credit beginning May 1^st of this year. With inventory remaining low and interest rates holding, expect April to be as hot as March was.”

March 2010 inventory of 6,551 homes for sale is 31 percent lower than March 2009 inventory. This is a 57% decrease for the regional inventory record high of 15,302 set in August 2007. 

COUNTY HIGHS AND LOWS

Sacramento  County sales increased 34 percent from February to March 2010. Inventory increased 6 percent during the month of March. Pending sales increased by 53 percent in the month of March. 57 percent of the homes sold for under $200,000; 37 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot increased 2 percent during the month of March to $122.       

Placer County sales increased by 32 percent and inventory increased by 9 percent during the month of March 2010. Pending sales increased by 44 percent from February to March. 5 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 46 percent of the homes sold for over $400,000. The average price per square foot increased by 1 percent during the month of March to $147.

El Dorado Countyshowed a 31 percent increase in sales from February to March, and the inventory increased by 5 percent from February to March. Pending sales have increased 64 percent during the month of March. 25 percent of the homes sold for under $200,000; 45 percent of the homes sold for between $200,000 and $400,000; and 30 percent of the homes sold for over $400,000. The average price per square foot increased 5 percent during the month of March to $152.       

Yolo County sales increased by 69 percent for March 2010 and the inventory increased by 14 percent. Pending sales increased 57 percent during the month of March. 26 percent of the homes sold for under $200,000; 56 percent of the homes sold for between $200,000 and $400,000; and 18 percent of the homes sold for over $400,000. The average price per square foot increased 7 percent during the month of March to $155.

Nevada County sales have increased by 28 percent during the month of March, and inventory increased 8 percent. Pending sales increased by 7 percent. 54 percent of the homes sold for between $200,000 and $400,000; and 46 percent of the homes sold for over $400,000. The average price per square foot increased by 10 percent during the month of March to $186.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Last Month’s Drop in Sales and Increase in Listings is not the Real Story

          Pending sales increased 33% in the four-county area during the month of February, despite a 4% increase in over-all inventory, a 6% drop in total sales and a 1.5% drop in prices in the same month. This dramatic rise in Pended Sales is being driven by Short-Sales representing 45% of the market. Comparatively, only 29% of pending sales were non-distressed properties (or traditional sales) and 26% were REOs (bank-owned / foreclosures). “With the tax-credit deadline looming, coupled with attractive interest rates that are expected to increase, it seems fairly obvious that there are some anxious buyers out there looking to capitalize on current incentives; thus creating this dramatic increase in demand,” stated Michael Lyon, CEO, Lyon Real Estate. “Additionally, seeing non-distressed Pending Sales in second place only to Short Sales reflects that Sellers are understanding the need to discount their sales price to get their homes sold.

In February, 43% of closed sales were REO, 35% were non-distressed, and 22% were short-sales. In terms of new listings, 51% were non-distressed, 31% were short-sale listings, and only 18% of listings were REO. Listings are on the rise in all three categories. However, given the pended sales numbers, we should see short-sales become the new leader in closed transactions in the next 60 days.

        TRENDGRAPHIX’s latest report shows that sales decreased 6 percent during the month of February for the Tri-County region of Sacramento, Placer and El Dorado Counties. February 2010 sales were 23 percent lower than February 2009 sales. Pending sales increased by 34 percent from January to February 2010.  February 2010 inventory of 6,170 homes for sale is 37 percent lower than February 2009 inventory. This is a 60 percent decrease for the regional inventory record high of 15,302 set in August 2007.  

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 7 percent from January to February 2010. Inventory increased 4 percent during the month of February. Pending sales increased by 36 percent in the month of February. 58 percent of the homes sold for under $200,000; 37 percent of the homes sold for between $200,000 and $400,000; and 5 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of February at $120.  

Placer County sales decreased by 10 percent and inventory remained the same at 1,283 during the month of February 2010. Pending sales increased by 31 percent from January to February. 4 percent of the homes sold for under $200,000; 50 percent of the homes sold for between $200,000 and $400,000; and 46 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of February to $145. 

El Dorado County showed a 2 percent increase in sales from January to February, and the inventory increased by 10 percent from January to February. Pending sales have increased 11 percent during the month of February. 22 percent of the homes sold for under $200,000; 51 percent of the homes sold for between $200,000 and $400,000; and 27 percent of the homes sold for over $400,000. The average price per square foot decreased 3 percent during the month of February to $145.       

Yolo County sales decreased by 7 percent for February 2010 and the inventory increased by 9 percent. Pending sales increased 29 percent during the month of February. 33 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 19 percent of the homes sold for over $400,000. The average price per square foot decreased 10 percent during the month of February to $145.

Nevada County sales have increased by 4 percent during the month of February, and inventory decreased 1 percent. Pending sales increased by 61 percent. 4 percent of the homes sold for under $200,000; 35 percent of the homes sold for between $200,000 and $400,000; and 61 percent of the homes sold for over $400,000. The average price per square foot decreased by 13 percent during the month of February to $167.

San Joaquin County sales have decreased by 12 percent during the month of February, and inventory decreased 1 percent from January to February. Pending sales increased 22 percent. 44 percent of the homes sold for under $200,000; 46 percent of the homes sold for between $200,000 and $400,000; and 10 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of February to $98.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

30% Gain in REO Inventories Slows January Sales

TRENDGRAPHIX’s latest report shows that closed sales decreased 31 percent during the month of January for the Tri-County region of Sacramento, Placer and El DoradoCounties; while REO inventory increased by 30%. “With steady increases in bank-owned (REO) inventory since November, buyers have been given more to choose from,” states Michael Lyon, CEO, Lyon Real Estate. “The short term effect is a drop in sales; as buyers take a step back to look at the new homes on the market. However, with pending sales up 14%, this drop in sales won’t last. We will see buyers taking advantage of greater inventories and cheaper interest rates.”

January 2010 inventory of 5,953 homes for sale is 42 percent lower than January 2008 inventory. This is a 61 percent decrease for the regional inventory record high of 15,302 set in August 2007. 

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 35 percent from December to January 2010. Inventory increased 6 percent during the month of January. Pending sales increased by 30 percent in the month of January. 59 percent of the homes sold for under $200,000; 36 percent of the homes sold for between $200,000 and $400,000; and 5 percent of the homes sold for over $400,000. The average price per square foot decreased by 3 percent during the month of January to $120.       

Yolo County sales decreased by 39 percent for January 2010 and the inventory remained the same at 323. Pending sales increased 50 percent during the month of January. 28 percent of the homes sold for under $200,000; 52 percent of the homes sold for between $200,000 and $400,000; and 20 percent of the homes sold for over $400,000. The average price per square foot increased 10 percent during the month of January to $162.

 Nevada County sales have decreased by 49 percent during the month of January, and inventory decreased 4 percent. Pending sales increased by 67 percent. 9 percent of the homes sold for under $200,000; 30 percent of the homes sold for between $200,000 and $400,000; and 61 percent of the homes sold for over $400,000. The average price per square foot increased by 6 percent during the month of January to $200.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Bank-Owned Inventories on the Rise

TRENDGRAPHIX’s latest report shows that sales decreased 1 percent during the month of December for the Tri-County region of Sacramento, Placer and El Dorado Counties. December 2009 sales were 22 percent lower than December 2008 sales. Pending sales increased by 15 percent from November to December 2009.

December 2009 inventory of 5,758 homes for sale is 46 percent lower than December 2008 inventory. This is a 62 percent decrease for the regional inventory record high of 15,302 set in August 2007. 

COUNTY HIGHS AND LOWS

Sacramento County sales increased 1 percent from November to December 2009. Inventory increased 4 percent during the month of December. Pending sales increased by 13 percent in the month of December. 54 percent of the homes sold for under $200,000; 39 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of December to $124.       

Placer County sales decreased by 7 percent and inventory decreased by 6 percent during the month of December 2009. Pending sales increased by 26 percent from November to December. 5 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 47 percent of the homes sold for over $400,000. The average price per square foot decreased 5 percent during the month of December to $145.

El Dorado County showed a 9 percent decrease in sales from November to December, and the inventory decreased by 11 percent from November to December. Pending sales have increased 27 percent during the month of December. 20 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 33 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent during the month of December to $151.       

Yolo County sales decreased by 7 percent for December 2009 and the inventory decreased by 6 percent. Pending sales decreased 4 percent during the month of December. 34 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot decreased 2 percent during the month of December to $150.

Nevada County sales have increased by 5 percent during the month of December, and inventory decreased 8 percent. Pending sales decreased by 64 percent. 2 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 56 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of December to $188.

San Joaquin County sales have decreased by 2 percent during the month of December, and inventory increased 8 percent from November to December. Pending sales increased 19 percent. 39 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 14 percent of the homes sold for over $400,000. The average price per square foot increased 2 percent during the month of December to $101.

December 11, 2009

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592 

REO Market Steps Down as Sales Leader 

          A shift in the market has occurred in the Sacramento region, putting traditional sales (non-distressed properties) in the lead for units sold over REO and short-sale properties. Out of the 1,995 total sales in the 4 county region in November, traditional sales accounted for 843 of them; equaling 42%. REO units sold totaled 745 units, representing 37%, and short-sale units equaled 412, or 21%.

This change has occurred due to marked appreciation in both REO and short-sales under $300,000 in the last 8 months; and traditional properties for sale continuing to drop in value.

“REO home sale prices have experienced a 10% appreciation for homes under 300,000 since the bottom of the market in April; based on average values of $97/ft in April to November’s price of $107/ft.,” stated Michael Lyon, CEO, Lyon Real Estate. “These are dazzling statistics by any measure. Despite the slowing pace of REO sales, the new bargains are the homes not in trouble but discounted to sell and compete directly with REO and short-sales. For example, short-sale prices have risen 4% since May, while traditional sales have dropped 4% since April of this year.”

TRENDGRAPHIX’s latest report shows that sales decreased 23 percent during the month of November for the Tri-County region of Sacramento, Placer and El Dorado Counties. November 2009 sales were 15 percent lower than November 2008 sales. Pending sales increased by 3 percent from October to November 2009.

         November 2009 inventory of 5,718 homes for sale is 49 percent lower than November 2008 inventory. This is a 62 percent decrease for the regional inventory record high of 15,302 set in August 2007.  

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 23 percent from October to November 2009. Inventory decreased 2 percent during the month of November. Pending sales increased by 4 percent in the month of November. 55 percent of the homes sold for under $200,000; 39 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of November to $126.       

Placer County sales decreased by 24 percent and inventory decreased by 5 percent during the month of November 2009. Pending sales decreased by 8 percent from October to November. 4 percent of the homes sold for under $200,000; 41 percent of the homes sold for between $200,000 and $400,000; and 55 percent of the homes sold for over $400,000. The average price per square foot increased 4 percent during the month of November at $153.

El Dorado County showed a 24 percent decrease in sales from October to November, and the inventory decreased by 6 percent from October to November. Pending sales have increased 3 percent during the month of November. 21 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 32 percent of the homes sold for over $400,000. The average price per square foot increased 3 percent during the month of November at $152.       

Yolo County sales decreased by 2 percent for November 2009 and the inventory decreased by 5 percent. Pending sales increased 5 percent during the month of November. 27 percent of the homes sold for under $200,000; 53 percent of the homes sold for between $200,000 and $400,000; and 20 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of November to $156.

Nevada County sales have decreased by 21 percent during the month of November, and inventory decreased 11 percent. Pending sales increased by 42 percent. 3 percent of the homes sold for under $200,000; 46 percent of the homes sold for between $200,000 and $400,000; and 51 percent of the homes sold for over $400,000. The average price per square foot increased by 5 percent during the month of November to $191.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

SHORT-SALES FUEL DROP IN INVENTORY AND PRICES FOR UPPER-END

        Pended short-sales are up 94% for the last 12 months for homes priced above $400,000.00. “We have already seen a 20% discount in pricing in the upper-end REO market,” says Michael Lyon, CEO Lyon Real Estate. “With the dramatic increase in pended short-sales that are equally discounted, it will naturally drive non-distressed, upper-end prices down as well.” Moving forward, it is very likely that we will see more short-sales than REO’s in the upper-end because banks know it is much harder and takes longer to sell and maintain expensive REO properties. As opposed to upper-end inventory, homes priced below $400,000.00 are experiencing price increases as current inventory has leveled out at only 2 months supply.

TRENDGRAPHIX’s latest report shows that sales increased 1 percent during the month of October for the Tri-County region of Sacramento, Placer and El Dorado Counties. October 2009 sales were 17 percent lower than October 2008 sales. Pending sales increased by 4 percent from September to October 2009.

         October 2009 inventory of 5,718 homes for sale is 52 percent lower than October 2008 inventory. This is a 63 percent decrease for the regional inventory record high of 15,302 set in August 2007. 

COUNTY HIGHS AND LOWS

Sacramento County sales remained the same from September to October 2009. Inventory increased 2 percent during the month of October. Pending sales increased by 5 percent in the month of October. 54 percent of the homes sold for under $200,000; 40 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of October to $124.       

Placer County sales increased by 4 percent and inventory decreased by 6 percent during the month of October 2009. Pending sales increased by 9 percent from September to October. 11 percent of the homes sold for under $200,000; 67 percent of the homes sold for between $200,000 and $400,000; and 22 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent during the month of October at $148. 

El Dorado County showed an 8 percent increase in sales from September to October, and the inventory decreased by 4 percent from September to October. Pending sales have decreased 8 percent during the month of October. 24 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 28 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of October at $147.       

Yolo County sales decreased by 18 percent for October 2009 and the inventory decreased by 6 percent. Pending sales increased 15 percent during the month of October. 34 percent of the homes sold for under $200,000; 50 percent of the homes sold for between $200,000 and $400,000; and 16 percent of the homes sold for over $400,000. The average price per square foot increased by 7 percent during the month of October to $160. 

Nevada County sales have increased by 25 percent during the month of October, and inventory decreased 8 percent. Pending sales decreased by 19 percent. No homes were sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 53 percent of the homes sold for over $400,000. The average price per square foot decreased by 3 percent during the month of October to $180.

San Joaquin County sales have decreased by 12 percent during the month of October, and inventory decreased 2 percent from September to October. Pending sales increased 10 percent. 42 percent of the homes sold for under $200,000; 45 percent of the homes sold for between $200,000 and $400,000; and 13 percent of the homes sold for over $400,000. The average price per square foot increased 4 percent during the month of October at $100.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592 

Home Prices Stable to Increasing below $300,000       

REO listings under $300,000 have seen prices increase 6% since April 2009, while Short-Sales and Non-REO listing prices under $300,000 have been flat over the same time period. “It’s clearly a Seller’s market for all homes priced under $300,000, with current inventory standing at only two months”, states Michael Lyon, CEO-Lyon Real Estate. “However, the opposite is true for homes above $650,000 where inventories stand at 24 months or more, clearly indicating a strong buyer’s market.”

TRENDGRAPHIX’s latest report shows that sales decreased 18 percent during the month of August for the Tri-County region of Sacramento, Placer and El Dorado Counties. August 2009 sales were 20 percent lower than August 2008 sales. Pending sales increased by 2 percent from July to August 2009.

August 2009 inventory of 5,920 homes for sale is 52 percent lower than August 2008 inventory. This is a 61 percent decrease for the regional inventory record high of 15,302 set in August 2007.  

COUNTY HIGHS AND LOWS

Placer County sales decreased by 21 percent and inventory decreased by 2 percent during the month of August 2009. Pending sales increased by 1 percent from July to August. 11 percent of the homes sold for under $200,000; 66 percent of the homes sold for between $200,000 and $400,000; and 23 percent of the homes sold for over $400,000. The average price per square foot decreased 2 percent during the month of August at $151.

El Dorado County showed a 28 percent decrease in sales from July to August, and the inventory decreased by 3 percent from July to August. Pending sales have increased 14 percent during the month of August. 23 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 34 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of August to $154.       

Yolo County sales decreased by 15 percent for August 2009 and the inventory decreased by 3 percent. Pending sales decreased 1 percent during the month of August. 32 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 19 percent of the homes sold for over $400,000. The average price per square foot decreased by 9 percent during the month of August to $156. 

Nevada County sales have decreased by 41 percent during the month of August, and inventory decreased 3 percent. Pending sales increased by 71 percent. 6 percent of the homes sold for under $200,000; 25 percent of the homes sold for between $200,000 and $400,000; and 69 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of August at $193.

San Joaquin County sales have decreased by 17 percent during the month of August, and inventory decreased 6 percent from July to August. Pending sales are up 6 percent. 45 percent of the homes sold for under $200,000; 46 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of August at $94.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592 

Home Prices Stable to Increasing below $300,000

REO listings under $300,000 have seen prices increase 6% since April 2009, while Short-Sales and Non-REO listing prices under $300,000 have been flat over the same time period. “It’s clearly a Seller’s market for all homes priced under $300,000, with current inventory standing at only two months”, states Michael Lyon, CEO-Lyon Real Estate. “However, the opposite is true for homes above $650,000 where inventories stand at 24 months or more, clearly indicating a strong buyer’s market.”

TRENDGRAPHIX’s latest report shows that sales decreased 18 percent during the month of August for the Tri-County region of Sacramento, Placer and El Dorado Counties. August 2009 sales were 20 percent lower than August 2008 sales. Pending sales increased by 2 percent from July to August 2009.

August 2009 inventory of 5,920 homes for sale is 52 percent lower than August 2008 inventory. This is a 61 percent decrease for the regional inventory record high of 15,302 set in August 2007.  

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 16 percent from July to August 2009. Inventory decreased 6 percent during the month of August. Pending sales increased by 1 percent in the month of August. 54 percent of the homes sold for under $200,000; 41 percent of the homes sold for between $200,000 and $400,000; and 5 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of August to $120.       

San Joaquin County sales have decreased by 17 percent during the month of August, and inventory decreased 6 percent from July to August. Pending sales are up 6 percent. 45 percent of the homes sold for under $200,000; 46 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of August at $94.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Short-Sale Pending Accelerate

        Trendgraphix has recently been upgraded to track short-sales and with that, two things have become apparent:  short-sale inventory is declining as quickly as REO inventory, and there are three times as many short-sale pended escrows as there are closed escrows.  “This data would seem to indicate to the consumer that the market is beginning to improve”, says Michael Lyon, CEO Lyon Real Estate, “However, what this truly represents is an increase in sales and escrows that take much longer to close.”  Overall, with inventory so low, there are buyers 10 deep on homes correctly priced under $300,000.  In addition, prices have increased for the last five months for homes priced under $300,000.   Please see the Trendgraphix graph on the following page showing this trend in the short-sale market.  

Facts and TrendsTM

Location: Sac/Pla/Eld/Yol Counties combined

Single Family Homes – Short-Sales Only

Number of Homes For Sale vs. Sold vs. Pended

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 4 percent from June to July 2009. Inventory decreased 17 percent during the month of July. Pending sales increased by 13 percent in the month of July. 57 percent of the homes sold for under $200,000; 36 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot increased by 1 percent during the month of July to $122.       

Placer County sales decreased by 4 percent and inventory decreased by 11 percent during the month of July 2009. Pending sales increased by 24 percent from June to July. 10 percent of the homes sold for under $200,000; 66 percent of the homes sold for between $200,000 and $400,000; and 24 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of July at $155.

El Dorado County showed a 1 percent increase in sales from June to July, and the inventory decreased by 5 percent from June to July. Pending sales have increased 9 percent during the month of July. 19 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 38 percent of the homes sold for over $400,000. The average price per square foot decreased by 4 percent during the month of July to $153.       

Yolo County sales decreased by 2 percent for July 2009 and the inventory decreased by 12 percent. Pending sales increased 4 percent during the month of July. 23 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 28 percent of the homes sold for over $400,000. The average price per square foot increased by 5 percent during the month of July to $169. 

Nevada County sales have decreased by 26 percent during the month of July, and inventory increased 6 percent. Pending sales decreased by 24 percent. 4 percent of the homes sold for under $200,000; 29 percent of the homes sold for between $200,000 and $400,000; and 67 percent of the homes sold for over $400,000. The average price per square foot increased by 6 percent during the month of July at $191.

San Joaquin County sales have decreased by 13 percent during the month of July, and inventory decreased 22 percent from June to July. Pending sales remained the same. 43 percent of the homes sold for under $200,000; 45 percent of the homes sold for between $200,000 and $400,000; and 12 percent of the homes sold for over $400,000. The average price per square foot increased 2 percent during the month of July at $95. 
  

  Low Inventory Pushes Prices Up

 For the third month in a row, price per sq/ft, median and average prices have risen for homes priced below $750,000.00. With fewer than expected bank-owned properties hitting the market together with low interest rates, buyers are finding slim-pickings. The opposite is true above $750,000.00, where we have two years of inventory. The third month of increased prices should help appraisers establish a better base to value homes in the market.

TRENDGRAPHIX’s latest report shows that sales increased 1 percent during the month of June for the Tri-County region of Sacramento, Placer and El Dorado Counties. June 2009 sales were 10 percent lower than June 2008 sales. Pending sales increased by 12 percent from May to June 2009.

         June 2009 inventory of 6,331 homes for sale is 43 percent lower than June 2008 inventory. This is a 59 percent decrease for the regional inventory record high of 15,302 set in August 2007.  

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 3 percent from May to June 2009. Inventory decreased 2 percent during the month of June. Pending sales increased by 12 percent in the month of June. 56 percent of the homes sold for under $200,000; 37 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot increased by 3 percent during the month of June to $121.       

Placer County sales increased by 15 percent and inventory increased by 1 percent during the month of June 2009. Pending sales increased by 11 percent from May to June. 12 percent of the homes sold for under $200,000; 64 percent of the homes sold for between $200,000 and $400,000; and 24 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of June at $154.

El Dorado County showed an 11 percent increase in sales from May to June, and the inventory decreased by 1 percent from May to June. Pending sales have increased 19 percent during the month of June. 16 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 41 percent of the homes sold for over $400,000. The average price per square foot increased by 3 percent during the month of June to $159.       

Yolo County sales increased by 6 percent for June 2009 and the inventory increased by 2 percent. Pending sales increased 8 percent during the month of June. 34 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 18 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of June to $162.

Nevada County sales have increased by 16 percent during the month of June, and inventory increased 1 percent. Pending sales decreased by 3 percent. 3 percent of the homes sold for under $200,000; 38 percent of the homes sold for between $200,000 and $400,000; and 59 percent of the homes sold for over $400,000. The average price per square foot decreased by 7 percent during the month of June at $182.

San Joaquin County sales have increased by 6 percent during the month of June, and inventory decreased 7 percent from May to June. Pending sales are up 17 percent. 49 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot remained the same during the month of June at $93.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Transitional Market Creates Opportunities 

        Even though sales have slowed going into June due to interest rate increases; the median price, average price and price per foot went up in May due to inventory levels below three months. If you are priced to sell, homes are selling in 60 days. There are more buyers than sellers right now for inventory at the right price. Until the shadow REO inventory is put in the market, we expect short sales to account for an even larger percentage of sales in the near future.

TRENDGRAPHIX’s latest report shows that sales decreased 5 percent during the month of May for the Tri-County region of Sacramento, Placer and El DoradoCounties. May 2009 sales were 7 percent lower than May 2008 sales. Pending sales decreased by 3 percent from April to May 2009.

         May 2009 inventory of 6,396 homes for sale is 45 percent lower than May 2008 inventory. This is a 58 percent decrease for the regional inventory record high of 15,302 set in August 2007.  

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 6 percent from April to May 2009. Inventory decreased 10 percent during the month of May. Pending sales decreased by 5 percent in the month of May. 57 percent of the homes sold for under $200,000; 37 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot increased by 3 percent during the month of May to $118.       

Placer County sales decreased by 4 percent and inventory decreased by 3 percent during the month of May 2009. Pending sales increased by 4 percent from April to May. 11 percent of the homes sold for under $200,000; 64 percent of the homes sold for between $200,000 and $400,000; and 25 percent of the homes sold for over $400,000. The average price per square foot increased 3 percent during the month of May at $153.

El Dorado County showed an 11 percent increase in sales from April to May, and the inventory increased by 4 percent from April to May. Pending sales have increased 1 percent during the month of May. 20 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 37 percent of the homes sold for over $400,000. The average price per square foot increased by 5 percent during the month of May to $156.       

Yolo County sales remained the same for May 2009 and the inventory decreased by 11 percent. Pending sales decreased 10 percent during the month of May. 31 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 26 percent of the homes sold for over $400,000. The average price per square foot increased by 8 percent during the month of May to $166.

Nevada County sales have increased by 12 percent during the month of May, and inventory increased 3 percent. Pending sales decreased by 17 percent. 2 percent of the homes sold for under $200,000; 40 percent of the homes sold for between $200,000 and $400,000; and 58 percent of the homes sold for over $400,000. The average price per square foot increased by 9 percent during the month of May at $198.

San Joaquin County sales have decreased by 17 percent during the month of May, and inventory decreased 10 percent from April to May. Pending sales are down 7 percent. 47 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 10 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of May at $93.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Short Sales on the Increase

          “In a reaction to REO inventories now below one month’s supply, more buyers are turning to short-sales in hopes of snagging the home of their dreams.  Relatively, the price-per-foot is on the rise in Sacramento, Placer and Yolo counties, although we are still seeing declines in price-per-foot for El Dorado and Nevada counties.  The 8% jump in Pended sales over last month reflects strong buyer demand however, with short-sales having only a 25% successful closing rate, we may not see the same result in future closed transactions. Even the Non-REO inventories have dropped down to a 4 months’ supply which is very different from last year at this time when we had 9 months supply of inventory. We still anticipate large numbers of REO properties to enter the market in late spring but if they are spread out and absorbed quickly there is the real possibility that prices under $200,000 have seen the bottom.”

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 7 percent from March to April 2009. Inventory decreased 17 percent during the month of April. Pending sales increased by 5 percent in the month of April. 62 percent of the homes sold for under $200,000; 32 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of April to $115.       

Yolo County showed a 16 percent decrease in sales for April and the inventory decreased by 9 percent. Pending sales increased 18 percent during the month of April. 39 percent of the homes sold for under $200,000; 44 percent of the homes sold for between $200,000 and $400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot increased by 9 percent during the month of April to $153.

Nevada County sales have increased by 67 percent during the month of April, and inventory increased 5 percent. Pending sales increased by 16 percent. 5 percent of the homes sold for under $200,000; 30 percent of the homes sold for between $200,000 and $400,000; and 65 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of April at $185.

San Joaquin County sales have increased by 1 percent during the month of April, and inventory decreased 23 percent from March to April. Pending sales are down 2 percent. 51 percent of the homes sold for under $200,000; 40 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot remained the same at $91 in April.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

Bank Owned Inventory is running out

        “It may only be a product of the many moratoriums on REO sales, that has dropped inventory levels down to just one month and below a month for pending sales which have jumped 24%,” said Michael Lyon, CEO of Lyon Real Estate. “The average REO sold price is hovering at $180,000 for the last three months. Even more profound is that the price per foot for REO’s in SacramentoCounty has dropped below $100/ft to $ 99/ft.   Interest rates are below 5%, first time buyer tax credits and REO inventories that are being absorbed as fast as they reach the market are changing the market faster than anticipated. Let there be no misunderstanding about the REO market, we feel there will be as many REO sales this year as last. The difference is the drastic drop in prices and very low interest rates have made for an ideal buyers market. Jumbo mortgages above $700,000 which were very hard to come by are slowly becoming available as Lenders decide that they have enough money to lend. There still no secondary market for these loans so the Banks have to keep them on their books, but many banks feel a 6% to 7% asset on the books is not a bad investment.”

TRENDGRAPHIX’s latest report shows that sales increased 10 percent during the month of March for the Tri-County region of Sacramento, Placer and El DoradoCounties. March 2009 sales were 43 percent higher than March 2008 sales. Pending sales increased by 35 percent from February to March 2009.

         March 2009 inventory of 7,739 homes for sale is 37 percent lower than March 2008 inventory. This is a 49 percent decrease for the regional inventory record high of 15,302 set in August 2007. 

COUNTYHIGHSAND LOWS

SacramentoCounty sales increased 7 percent from February to March 2009. Inventory decreased 7 percent during the month of March. Pending sales increased by 33 percent in the month of March. 61 percent of the homes sold for under $200,000; 34 percent of the homes sold for between $200,000 and $400,000; and 5 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of March to $113.

Placer County sales increased by 32 percent and inventory decreased by 3 percent during the month of March 2009. Pending sales increased by 49 percent from February to March. 15 percent of the homes sold for under $200,000; 65 percent of the homes sold for between $200,000 and $400,000; and 20 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent during the month of March at $148.

El DoradoCountyshowed a 7 percent increase in sales from February to March, and the inventory increased by 2 percent from February to March. Pending sales have increased 29 percent during the month of March.  17 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 34 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of March to $163.

YoloCounty showed a 57 percent increase in sales for March and the inventory decreased by 10 percent. Pending sales increased 17 percent during the month of March. 42 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 16 percent of the homes sold for over $400,000. The average price per square foot increased by 11 percent during the month of March to $142.

NevadaCounty sales have decreased by 34 percent during the month of March, and inventory increased 5 percent. Pending sales increased by 30 percent. 0 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 57 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of March at $192.

San JoaquinCounty sales have increased by 19 percent during the month of March, and inventory decreased 16 percent from February to March. Pending sales are up 36 percent. 50 percent of the homes sold for under $200,000; 42 percent of the homes sold for between $200,000 and $400,000; and 8 percent of the homes sold for over $400,000. The average price per square foot decreased 5 percent to $91 in March.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592

        TRENDGRAPHIX’s latest report shows that sales decreased 5 percent during the month of February for the Tri-County region of Sacramento, Placer and El DoradoCounties. February 2009 sales were 44 percent higher than February 2008 sales. Pending sales increased by 4 percent from January to February 2009.

         February 2009 inventory of 8,136 homes for sale is 35 percent lower than February 2008 inventory. This is a 47 percent decrease for the regional inventory record high of 15,302 set in August 2007. 

COUNTYHIGHSAND LOWS

SacramentoCounty sales decreased 4 percent from January to February 2009. Inventory decreased 5 percent during the month of February. Pending sales increased by 3 percent in the month of February. 61 percent of the homes sold for under $200,000; 33 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of February to $115.       

Placer County sales decreased by 14 percent and inventory increased by 2 percent during the month of February 2009. Pending sales increased by 7 percent from January to February. 10 percent of the homes sold for under $200,000; 65 percent of the homes sold for between $200,000 and $400,000; and 25 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of February at $149. 

El DoradoCountyshowed a 13 percent increase in sales from January to February, and the inventory decreased by 1 percent from January to February. Pending sales have increased 4 percent during the month of February. 18 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 33 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of February to $165.       

YoloCounty showed a 12 percent decrease in sales for February and the inventory decreased by 10 percent. Pending sales increased 18 percent during the month of February. 46 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot decreased by 12 percent during the month of February to $128. 

NevadaCounty sales have decreased by 9 percent during the month of February, and inventory increased 6 percent. Pending sales decreased by 10 percent. 7 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 45 percent of the homes sold for over $400,000. The average price per square foot decreased by 4 percent during the month of February at $188.

San JoaquinCounty sales have decreased by 18 percent during the month of February, and inventory decreased 8 percent from January to February. Pending sales are up 3 percent. 48 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent to $96 in February.

CONTACT: Michael Lyon

CEO

(916) 978-4266

FAX (916) 481-7592 

No Help for High End Homes 

“Unlike for the entry-level housing market that is enjoying low interest rates and high demand, the government has not come to the rescue of the high end market,” said Michael Lyon, CEO of Lyon Real Estate. “Buyers looking at homes priced above $750,000 are short on choice for lenders and loan options. As a result, standing inventory levels in the high end are now above two years and growing.”

        TRENDGRAPHIX’s latest report shows that sales decreased 26 percent during the month of January for the Tri-County region of Sacramento, Placer and El Dorado Counties. January 2009 sales were 66 percent higher than January 2008 sales. Pending sales increased by 20 percent from December 2008 to January 2009. 

         January 2009 inventory of 8,397 homes for sale is 34 percent lower than January 2008 inventory. This is a 45 percent decrease for the regional inventory record high of 15,302 set in August 2007. 

COUNTY HIGHS AND LOWS

Sacramento County sales decreased 26 percent from December 2008 to January 2009. Inventory decreased 7 percent during the month of January. Pending sales increased by 19 percent in the month of January. 60 percent of the homes sold for under $200,000; 35 percent of the homes sold for between $200,000 and $400,000; and 5 percent of the homes sold for over $400,000. The average price per square foot decreased by 4 percent during the month of January to $116.       

Placer County sales decreased by 25 percent and inventory decreased by 6 percent during the month of January 2009. Pending sales increased by 18 percent from December to January. 15 percent of the homes sold for under $200,000; 68 percent of the homes sold for between $200,000 and $400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent during the month of January at $148. 

El Dorado Countyshowed a 24 percent decrease in sales from December to January, and the inventory decreased by 4 percent from December to January. Pending sales have increased 48 percent during the month of January. 22 percent of the homes sold for under $200,000; 39 percent of the homes sold for between $200,000 and $400,000; and 39 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of January to $162.       

Yolo County showed a 47 percent decrease in sales for January and the inventory decreased by 1 percent. Pending sales increased 36 percent during the month of January. 32 percent of the homes sold for under $200,000; 51 percent of the homes sold for between $200,000 and $400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot decreased by 3 percent during the month of January to $148. 

Nevada County sales have decreased by 16 percent during the month of January, and inventory decreased 6 percent. Pending sales increased by 32 percent. 0 percent of the homes sold for under $200,000; 41 percent of the homes sold for between $200,000 and $400,000; and 59 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of January at $192.

San Joaquin County sales have decreased by 22 percent during the month of January, and inventory decreased 9 percent from December to January. Pending sales are up 20 percent. 47 percent of the homes sold for under $200,000; 44 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot decreased 4 percent to $97 in January.