In Sacramento, average home prices and inventory continue to rise. In June, the average home price in Sacramento County and the City of West Sacramento increased 1.9% from $268,382 in May to $273,446 in June, an increase of $5,064.
If you’re looking at Sacramento real estate, searching for homes for sale in Sacramento, or you’re thinking about listing or selling your home, it’s helpful to know what is happening in the residential real estate market right now. Average home prices in Sacramento are on the rise.
The month-to-month median sales price increased 2.5% from $240,000 to $245,908 in June.
The current price is a 22.9% increase from the $200,000 sales price of January 2013. The current number is 44.5% above the $170,229 median sales price of June 2012.
A decrease in sales volume brought the total number of closed escrows to 1,522, 9% and 150 units lower than the 1,672 units sold in May. Compared to June 2012, however, the sales volume has decreased 12.2% from the 1,733 units sold.
The active listing inventory increased for the month, rising 14.7% from 1,488 units to 1,706 units. The months of inventory increased to 1.1. This number is the amount of time (in months) that it would take to deplete the current inventory at the current sales rate.
If you are searching to buy a home or considering listing or selling your home in Sacramento, I’d be more than happy to discuss your particular situation with you at your convenience.