Do You Know Why? 2007 vs 2008 in Regional Cities
May 27th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
Following are notes on the performance of two groups of cities for March 27 - May 27th in 2007 and 2008. These cities are all within a 50 mile radius. Can you guess why the vivid differences in the two groups?
Group 1 / # of homes sold 2007 2008
North Highlands 33 97 +194%
Elk Grove 259 570 + 97%
Rancho Cordova 70 138 +97%
West Sacramento 47 88 +87%
Natomas 213 372 +75%
Woodland 72 91 +26%
Group 2 / # of homes sold 2007 2008
Davis 98 64 -35%
Folsom 171 132 -23%
Auburn 81 66 -19%
Granite Bay 43 36 -16%
East Sacramento 179 180 —-
Yes, of course you have it. The cities who have increased in the number of homes sold are those who had the most bank-owned properties. Investors have recognized a good thing and swooped in to take advantage of homes whose prices have dropped well below the cost it would take to build them… -Jamie Madison
