Market Watch: Rancho Real Estate
What happened over the past 3 years?
Let’s go for a ride. Strap in to grab a closer look at what is going on with Rancho Cordova real estate. This “Market Watch” section will highlight current price trends, interesting data, and share relevant statistics and resources with the hope of further educating readers.
Even though there is not much encouraging news out there these days, it is still important to be informed, have dialog, and of course support each other in making it through these difficult economic times.
These pieces are not meant to serve as your sole source of data, real estate advice, or an appraisal, but only give a window into this wild market. The information shared is based upon research and statistical analysis from usage of Sacramento MLS.
Let’s begin by taking a look at a graph displaying all Rancho Cordova sales over the past 36 months (1,563 sales total) as well as all current houses for sale within city limits (326). What stands out to you about the graphs? What do you see?
Similar Posts:
- June 17, 2010 – Rancho Cordova Real Estate Report – June 2010
- July 20, 2010 – Rancho Cordova Real Estate Report – July 2010
- July 6, 2010 – Is Sacramento a Digital Media Hot Spot or Dead Zone
- June 18, 2010 – Rancho Cordova Throws a Red, White and Blue Bash July 3-4
- July 3, 2010 – Download the Hyperlocal Rancho Cordova iPhone App
Short URL: http://www.ranchocordovapost.com/?p=2529
Posted by Ryan Lundquist
on Feb 3 2009. Filed under Uncategorized.
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Ryan, I have a question about the data. I notice, when looking at mls listings of "95670", that properties I know are in the boundaries of the City of Rancho Cordova are listed as being in Gold River. We're not talking about just border area listings, but properties in excess of 2 mi from Gold River, inside the city. How is the data collected to account for this listing "phenomena" ? I only ask because I have noticed many foreclosures, north of 50, being listed as being in Gold River.
Donald- Great question. You are correct that there are some properties listed as being in "Gold River". I checked MLS and there are currently 13 listings in this category and there were actually 42 sales last year within the time frame I used. The overall data is probably not effected much since the overall median price within the time frame of the graph for all 95670 properties is $190,000 and the additional 42 sales had a median price of $170,000. The lower median price for the 42 would likely not bring down the overall median price much since there are only 42 properties being added (and a balance of ones below and above $190,000). The "95670" data looks to be fairly consistent with what we are seeing above in the graph. In total there were 454 sales in 95670 over the past year (not counting the additional 42). Sometimes Agents simply import data from Tax Records to their listings without changing incorrect information. Maybe they don't change it because they are too busy or maybe it is because they think "Gold River" is a marketing feature. I don't know what the reasoning is. The bulk of the 13 listings and 42 sales do say "Gold River" in Tax Records even though that is incorrect. The information should be changed because it does have the potential to skew data. It is frustrating to not be able to include all data in differing types of searches because of an agent error. My search parameters were based upon a city search "Rancho Cordova" in MLS rather than the zip codes (the obvious problem in searching by zip code using "95670" is that Gold River has the same zip code as we do and that would really skew the data). It is possible to search by geographical boundaries on a smaller scale, but when considering Rancho Cordova in its entirety it is much easier to use different criterion ("Rancho Cordova" only). With all that being said, with the addition of of the "Gold River" properties, it does not appear to have much of an impact on the direction of the trendline above – potentially a slightly lower end to the trendline and more dots on the lower end of the graph. In coming weeks I am planning to do a comparison of zip codes and when I compare 95670 with other portions of Rancho Cordova, I will be sure to use a geographical boundaries search that will include the "Gold River" properties you mentioned too. Let me know if you have any further questions.