Tuesday, July 31, 2007

Market Comparison

We have started to branch out beyond Folsom and EDH in our home search. So of course, the first thing I wanted to do, was look at the stats for Shingle Springs, Fair Oaks, Granite Bay, and Orangevale (I wanted to do Gold River too, but I think the zip includes most of Rancho). I pulled the historical data from SacBee's DataQuick monthly charts. This data is frequently revised, but for trend purposes the original numbers work.

Below are graphs of the main areas we are considering. One graph displays median sales price and the other, median price per square foot. Note the big clump on the square foot chart, but the spacing on the sales price chart. To me, that signals the average size house is much bigger in the more expensive zips. I can't really think of another explanation (so if someone has one...do tell). Not all periods were pulled for the chart, and some months are missing data from their website.

Side note: I went to subscribe to the SacBee, since I was feeling a little guilty using their data so much. But their prices are pretty high. Best I can tell, on an annual basis they charge more than the world renowned WSJ. And for what...news on the latest murder and mayhem. The WSJ reports what I consider to be real news. Freeway accidents, fires, and crime are what I consider current events. Important, but not healthy to read about on a regular basis if you want to keep your faith in the goodness of humanity.

1 comment:

Sippn said...

Its not just bigger homes, its newer, its land prices, its proximity (closer to downtown) its the % of luxury developments in the mix, its the average age of homes. Its supply and demand.

Simple answers are not!