Real Estate Office Activity in East Sacramento
I like to monitor the market activity of the neighborhood where I live, and I also like to keep an eye on the market share of my Coldwell Banker Sacramento Metro office in comparison to other real estate offices. The year-to-date numbers show that my office, Coldwell Banker Sacramento Metro, is currently the number one office in 95819. What that means is that we have represented more buyers and sellers in the area than any other real estate office. Separately, we’ve also sold more volume in terms of dollars than any other office. And while those numbers are fun to quote and a source of pride, they don’t necessarily mean one company is better than another.
Today I looked back at 2019 numbers to see how 2020 is comparing. From January 1st, 2019 through June 15th, 2019 my office had sold 34 units in the 95819 zip code. Those 34 sides represented $25.4 million dollars worth of real estate. By both of those measures, Coldwell Banker Sacramento Metro was the #1 office in the area last year as well. But I noticed a significant difference; the number of transactions are down this year and the volume in terms of dollars is down this year as well.
Looking at the broad picture, in 2019 there were 96 homes sold through June 15th. That represented a little more than $66.6 million dollars worth of real estate. Numbers for this year show an 8.33% reduction in how many homes have sold (88 year-to-date) and those sales represent a 4% reduction in dollars volume ($66,606,163 in 2019 vs. $63,999,183 in 2020).
While the overall number of homes sold and associated dollars volume is lower for this year in comparison to last year, it should be noted that the average sales price per sale is up. Last year at this time, the average price per sale was $693,814. This year the average sales price so far is $727,263. This crossing of numbers is important to keep in mind as many times when people write or talk about the real estate market they will use stats to show real estate as a whole is better off based upon that average sales price. But keep in mind that while it is true that the average sales price is up, it is also true that there are fewer total transactions and those transactions represent a lower sales volume based on dollars than what we had last year.