Median sales prices of existing homes in Sacramento County and West Sacramento reached $190,000 in May, their highest level since September 2008, the Sacramento Association of Realtors announced Tuesday.
Prices are now close to where they were in early 2002 - just before the housing boom sent values soaring. The median price means half the homes sold for more and half for less.
The Realtors group counted 1,720 May sales, up 12 percent from April.
Statistics showed the largest number of sales - 18 percent - were made at prices between $200,000 and $249,000. Conventional sales that didn't reflect distress accounted for 41 percent of transactions, SAR reported. Bank repos were 35 percent of sales. Short sales were 23.7 percent, the association reported.
--Call The Sacramento Bee's Jim Wasserman, (916) 321-1102 or email him at [email protected]. Read his blog on real estate, Home Front, at www.sacbee.com/blogs.