California home prices are dropping. This Sacramento region county is still seeing a spike
Home values throughout California are cooling. In the Sacramento region, one county is going against that trend.
The median sale price for a single-family home in El Dorado County was $684,000 in October, up 5.6% over the previous month and more than 11% higher than the same time last year, according to data from the California Association of Realtors. That month-over-month increase was among the largest in California.
No other county in the Sacramento region saw a price increase in October. The median price in Placer County was flat, according to the state realtor group, and prices were down 1.4% in Sacramento. Yolo, Yuba and Sutter all saw October price drops of around 6% compared to September.
Statewide, the median sale price for a single-family home was $801,190 in October, down 2.5% over September and just a few thousand dollars higher than it was in October 2021.
“While October’s sales and price results were weaker than what we’ve experienced in the past couple of years and could slow further in the upcoming off-season, the market bottom could be in sight,” CAR president and Bay Area realtor Jennifer Branchini said on the company’s website. Branchini noted that homes are “selling relatively quickly” in California and limited inventory has led to about one in four homes selling above the list price.
The most expensive real estate in El Dorado County is found in El Dorado Hills, where the average home value in October was roughly $941,000 in October, according to Zillow. The average home value in South Lake Tahoe was around $715,000.
The interactive map below shows the average home value throughout the Sacramento region. Data is available for every major community, including Elk Grove, Davis, Folsom and the south Placer County suburbs.
