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Comparing Four Months of Unemployment Rates in Sacramento County: May-August 2009

October 7, 2009 in Sacramento, Unemployment | No comments

022008ins 009aWhat’s been happening with Sacramento County unemployment rates over the past several months? Below are the most recent figures for unemployment during the most recent four months per the Employment Development Department. The rates encompass both cities and Census Designated Places (CDP) in Sacramento County from May through August 2009. Data for September 2009 has not yet been released (wait about two more weeks for that). 

As of August 2009, Sacramento County as a whole has an unemployment rate of 12.3% ( July was 12.0%, June was 11.6% and May was 11.1%). What do you notice about the data below? Does anything stand out to you or surprise you?

Arden Arcade CDP  11.9%  (July 11.7%, June 11.4%, May 10.8%)

Carmichael CDP  9.1%  ( July 8.9%, June 8.7%, May was 8.2%)

Citrus Heights city  8.6%  (July 8.5%  June 8.3%, May 7.8%)

Elk Grove CDP  10.0%  (July 9.8%, June 9.6%, May 9.0%)

Fair Oaks CDP  6.8%  (July 6.7% , June 6.6%, May 6.2%)

Florin CDP  18.2%  (July 17.9  June 17.6%, May 16.7%)

Folsom city  5.6%  (July 5.5%, June 5.4%, May 5.1%)

Foothill Farms CDP  15.6%  (July 15.3%, June 15.0%, May 14.2%)

Galt city  18.4%  (July 18.1% , June 17.8%, May 16.9%)

Gold River CDP  2.1%  (July 2.0%, June 2.0%, May 1.9%)

Isleton city  13.2%  (July 12.9%, June 12.5%, May 11.8%)

La Riviera CDP  6.7%  (July 6.6%, June 6.5%, (May 6.1%)

Laguna CDP  6.4%  (July 6.2%, June 6.1%, May 5.8%)

Laguna West Lakeside CDP  8.3%  (July 8.1%, June 8.0%, May 7.5%)

North Highlands CDP  18.0%  (July 17.6%, June 17.3%, May 16.4%)

Orangevale CDP  8.8%  (July 8.6%, June 8.5%, May 8.0%)

Parkway South Sacramento CDP  20.4%  (July 20.0%, June 19.7%, May 18.7%)

Rancho Cordova City  14.0%  (July 13.8%, June 13.5%, May 12.8%)

Rancho Murieta CDP  3.8%  (July 3.7%, June 3.7%, May 3.5%)

Rio Linda CDP  17.8%  (July 17.5%, June 17.2%, May 16.3%)

Rosemont CDP  9.7%  (July 9.5%, June 9.3%, May 8.8%)

Sacramento city  14.3%  (July 14.1%, June 13.8%, May 13.1%)

Vineyard CDP  5.7%  (July 5.6%, June 5.5%, May 5.2%)

Walnut Grove CDP  26.5%  (July 26.2%, June 25.6%, May 24.5%)

Wilton CDP  7.5%  (July 7.4% , June 7.2%, May 6.8%)

Every single category above, whether city or CDP, saw an increase in unemployment from July 2009 to August 2009. If there was a prize for lowest unemployment rate in Sacramento County, Gold River would be the winner at 2.1%. On the other end of the spectrum, Walnut Grove has the highest unemployment rate in Sacramento County at 26.5%.

Let me know if you have any questions about the latest figures. You are welcome to call 916-595-3735 or visit our company website at www.lundquistcompany.com

http://www.lundquistcompany.com/blog Comparing Four Months of Unemployment Rates in Sacramento County: May-August 2009

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Quick Statistics: Los Banos & Patterson Sales in 2008-2009 – Foreclosures & Short Sales

August 28, 2009 in Market Trends | 2 comments

los banos and patterson mapThe cities of Los Banos and Patterson are located in the Central Valley of California off of Interstate 5 in Merced County and Stanislaus County respectively. If you are not from the area, but you have traveled through California along I-5, chances are you have at least seen exit signs for both Patterson and Los Banos. I have appraised many properties in both cities over the past year and I figured I would throw up some quick and informative data as an FYI. The data below is based upon the past twelve months of sales in MLS for single family residential detached properties.  

City of Los Banos Real Estate Market Data: 08/28/08 – 08/28/09

  • Last year the city of Los Banos in Merced County had 1555 sales
  • 1379 of these sales were bank-owned properties (89%)
  • 70 of these sales were short sales (4.5%)
  • 93.5% of total sales in Los Banos were either bank-owned or short sales
  • Los Banos has a 18.4% unemployment rate as of July 2009 (EDD)

Los Banos CA Sales August 2008 to August 2009 Trend Graph

City of Los Banos Links:

City of Patterson Real Estate Market Data: 08/28/08 – 08/28/09

  • Last year the city of Patterson in Stanislaus County had 1108 sales
  • 989 of these sales were bank-owned (89%)
  • 83 of these sales were short sales (7.5%)
  • 96.5% of total sales in Patterson were either bank-owned or short sales.
  • Patterson has a 21.9% unemployment rate as of July 2009 (EDD)

Patterson CA Sales August 2008 to August 2009 Trend Graph

City of Patterson Links:

What do you notice form the data above? Does anything stand out to you? Why do you think both of these communities have been plagued by foreclosures as well as a high unemployment rate? Feel free to share your thoughts by commenting above (just under the post title).

Please contact me at 916-595-3735 or info@lundquistcompany.com if you have any questions about the data above or a need for more detailed analysis or valuation.

http://www.lundquistcompany.com/blog Quick Statistics: Los Banos & Patterson Sales in 2008-2009 – Foreclosures & Short Sales

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Real Estate Market Trends: Past 36 Months of Sales in Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights (August 2006 – August 2009)

August 28, 2009 in El Dorado Hills, Folsom, Market Trends, Rancho Cordova | No comments

I put together a series of city-wide graphs to show the past three years of home sales within Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights. It’s always interesting to me to take a look at a market-wide graphs to try and make sense of what property values have done over a specified time period. When looking at data like this, I ask questions like: What is the lower end of the market doing? Have there been any changes in the upper end? What does the overall trend look like? Declining? Stabilizing after a decline? Increasing? What types of circumstances may have triggered a change in the overall price levels during various times over the past three years? New laws or regulations? Unemployment? Loan rates adjusting? Economic factors? Zoning?

All graphs below are based on information from Sacramento Metrolist between 08/28/2006 to 08/27/2009. The points on the graphs represent single family residential detached units.

Number of Sales in the Past 3 Years:

  • Folsom:  2,183
  • El Dorado Hills:  1,665
  • Rancho Cordova:  1,732
  • Citrus Heights:  2,374

What do you see? What does it look like the market has done in the areas below? Does anything stand out to you or surprise you? What do you notice about the higher end of the market on all of the graphs?

Folsom Real  Estate Market Trends: 

Folsom CA Sales Trend Graph August 2006 to August 2009

 El Dorado Hills Real Estate Market Trends

El Dorado Hills Sales Graph August 2006 to August 2009

Rancho Cordova Real Estate Market Trends:

Rancho Cordova Sales Graph August 2006 to August 2009

Citrus Heights Real Estate Market Trends:

Citrus Heights CA Sales from August 2006 to August 2009 Trend Graph

City-wide data is important to look at because what is happening in the overall city can sometimes have an impact on smaller niches and portions of housing within the same city. This is not always true, but it’s relevant to at least be aware of what is happening in the overall market so that we can more readily decipher a city’s sub-markets.

On the other hand, one of the glaring downfalls of city-wide data is that information is too general to really draw neighborhood-specific conclusions from. As we all know, each city or area typically has a host of different types of neighborhoods, and these pockets of real estate can vary drastically from each other in terms of buyer perception, price range, and many other factors. For example, Rancho Cordova has two main zip codes and the 95742 zip code (Anatolia) is far different from most of the 95670 zip code (everything else). Or properties near Old Town Folsom may have weathered the market differently than those in Empire Ranch. Or Governor’s Village and Serrano in El Dorado Hills may show differing market trends because of location, square footage, year built, or some other factor.

With all that being said, I am very curious to hear your observations and insight about the city-wide trend graphs above. Feel free to comment above (just below the post title)  or email info@lundquistcompany.com. If you are in need of additional and more specific research or an appraisal, let’s talk soon (916-595-3735). 

http://www.lundquistcompany.com/blog Real Estate Market Trends: Past 36 Months of Sales in Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights (August 2006 – August 2009)

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