Thursday, January 16, 2014
Sacramento Median Home Price December 2013
Sacramento median home price for December 2013 seems to have leveled off. This is good news because the crazy upward trajectory we experienced in the early part of the year was just not sustainable. I think the $250,000's is about where our Sacramento market should be, and if I wipe the haze off my crystal ball, I predict we will experience moderate price appreciation in 2014. Our current median home price is still FAR below the median from the peak of Sacramento's real estate market in the summer of 2005 (which was just a touch under $400,000). But it's nice to say that it's also FAR above the median home price at the bottom of the Sacramento market in winter 2011 (about $160,000). In fact one trend I have noticed in the last 6 or so months is folks who purchased a home at the bottom of the market in 2009-2011 are calling wanting to sell their home and purchase a larger one. If you purchased a Sacramento home during that timeframe, there's a good chance your home has increased in value in the range of 20%-35% depending on when you bought and where your home is located...so it's a great time to do sell and purchase another home. Of course if you would like me to provide you an estimate of your home's value, I'm happy to do that. Just email me.