Sale prices slid year-over-year while the typical home spent almost twice as long on the market, even as buyers returned in greater numbers this spring.
Homes sold faster, more closed above asking, and prices ticked higher as buyers competed for a shrinking pool of listings in the three months ending April.
County supervisors advanced a new ordinance steering newly built homes toward local buyers and workers, while planners previewed sweeping changes to how housing projects get approved without hearings. Homeless services funding also dominated the May 12 agenda.
The City Council gave final approval to new backyard-cottage regulations and cleared the way for development on a Sierra Vista parcel, while planners green-lit a two-story addition in Old Town.
The median sale price fell sharply from a year earlier even as sales volume climbed and homes took more than a week longer to find buyers.
Sales jumped double digits year-over-year in the three months ending April, while the median price retreated and homes sold for slightly less per square foot.
The City Council backed a loan deal for a new affordable apartment complex, cleared the way for the Steelridge subdivision in Suncreek, and began charting where the city's next homes will go under a long-range General Plan update.
Median sale prices climbed past $1.45 million in the three months ending April, even as homes spent nearly twice as long on the market as a year earlier.
The median price slipped nearly 5% from a year ago, yet nearly half of Orangevale homes still sold above their list price in April.
City Council signed new contracts with five hotels to shelter homeless families, authorized financing for two affordable apartment projects, and reviewed an independent audit of Sacramento's housing agency during the week of May 28.