Sacramento resale home prices are up significantly, if you’re considering listing or selling your home in Sacramento, or if you are searching for Sacramento real estate or a home for sale in the Sacramento region.
The median price of resale homes in Sacramento County rose 33 percent in April, compared to the same period last year, according to DataQuick. Also worth noting are double-digit gains in Yolo and Placer counties. There is a very low inventory of homes for sale right now, with a lot of folks looking to move up in value, which is pushing prices higher.
Last year at this time, foreclosures ruled the day and investors were gobbling them up as quickly as possible, dominating real estate activity in the Sacramento area. Now, a year later, foreclosure activity has slowed down and more traditional buyers are dominating the market, with lots of buyers moving up, buying more expensive homes than they’re living in now.
The number of homes sold in the $300,000 to $800,000 range just about doubled this April, compared with the same period last year. Meanwhile, the number of homes that have sold for less than $200,000 has dropped by 26.5 percent.
In Sacramento, Placer, El Dorado, and Yolo counties the median home price increased from March to April. For instance, in April 2012 the median home price in Sacramento was $162,000, and in March 2013 it had climbed to $208,000 and then in April it reached $215,000.
Sales volume has increased noticeably throughout the Sacramento region, with inventory near all-time lows. If you are thinking of selling your home or if you are searching for a home in Sacramento, this market is characterized by low inventory, move-up buyers, and rising prices.