Sacramento is home hot!
I have been helping people buy and sell homes here in the Fair Oaks/Sacramento area for many years. There have been many highs and lows within that span of time, most recently, the housing bust of circa 2010. We dealt with copious foreclosures, short sales, REO situations and homes tended to sit vacant for a number of years sometimes. Fast, fast fast forward to a mere 6 years later and home prices in Sacramento County rose to their highest level in nearly nine years this summer! The trend is being called “the region’s real steady recovery from the recession” and to us, it seems more meteoric.
Market researcher CoreLogic reports that $310,000 was the median resale price for single-family homes in Sacramento County in June. That’s a $5,000 increase just from May and a $30,000 increase from June 2015! Let’s keep in-mind that the highest previous to this current number was $314,000 in August of 2007. “Sacramento County is still well short of the record $374,000, reached in August 2005” reports the Sacramento Bee’s report on the findings.
While at first these numbers may lead one to think that we are headed for another real estate market crash, but let’s keep in-mind that back in that recession era, loose lending standards by banks and home loan lenders were part and parcel to the insidious undermining of the home buying/home selling bubble era. More stringent standards have added some stability to the upward trend and although these numbers have begun to price many out of the sales market, Sacramento and surrounding areas are still practically a bargain compared to the rest of the metropolitan Northern California areas. One can’t even begin to touch the San Francisco Bay Area and Sacramento is quickly becoming a city that offers many of the dining, arts, sports, music and job positives of its bigger-city siblings.
www.TeamLund.com offers a glimpse into the area’s property offerings.