Greater Sacramento Home Sales

Greater Sacramento home sales continued at a blistering pace in April, pushing the median price to a
$321,000 average for the quarter. That gure proved to be an 8 percent jump over the same quarter just
one year ago, and the region’s highest median price since August of 2005. This information was provided
by Trendgraphix Inc., a Sacramento based reporting company, and conveyed by Lyon Real Estate.
The month of April saw 2,448 closed sales posted, leaving less than two months of inventory, indicating
a still strong seller’s market. “First-time and move-up buyers in the 4-county region are leaving no price
point behind,” says Pat Shea, president of Lyon Real Estate. “Below $350,000 however, the market
remains in a frenzy.”
Below the $350,000 price point, a total of 1,776 new open or pending sales were posted during the
month of April. Inventory in the price range ended the month at 1,705, leaving less than one month of
supply available for buyers. Average days on the market until sale dropped to 39 and sellers received an
average of 98 percent of their original list price.  (These homes are also receiving multiple offers so it is very competitive for buyers in this price range.  Buyers need to understand that they just need to keep looking and putting offers in and one will get accepted.  I find that when working with a buyer who is having trouble getting offers accepted that we always end up with a house that the client likes better anyway.  Big thing is don't get discouraged as interest rates are inching up and home prices are also, so just keep at it.  This is a good time for buyers and sellers)
The move-up range, between $350,000 and $750,000, experienced a 31 percent increase in closed
sales and a 34 percent increase in new open escrows compared to the same quarter last year.
Inventory saw a 12 percent jump over the previous year, however, the market was left with less than two
months of inventory based upon the new open rate of sales.
In the $750,000 and above price range, 330 new open escrows were posted over the past three
months. That was nearly the same amount posted over the previous six months combined. Above one
million dollars, there were 37 closed sales and 40 new open escrows for the month of April.
Shea believes these market trends will continue. He added that: “the Greater Sacramento Region offers
exceptional home values and quality of life. We just enjoyed our best million dollar home sale month
since the summer of 2007. April’s 2015 median price remains 24 percent below the peak of the
pre-recession boom and interest rates are still oating below 4 percent. It’s a great time to be here.”
About Lyon Real Estate
Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento
region and has served the area for more than 65 years. In 2014, the company closed 7,553 transactions
worth a total of $2.61 billion in sales volume. Lyon Real Estate has 961 agents in 17 of ces located
throughout the region. The company is a member of the Leading Real Estate Companies of the World®
(LRE), the largest network of premier locally-branded rms, as well as LRE’s Luxury Portfolio
International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a
global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and
follow us on Facebook/Lyon.
About TrendGraphix, Inc.
TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple
Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers,
agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used
by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about
TrendGraphix, visit www.trendgraphix.com