The Sacramento housing market is just about average health. Less than 1% of homes are still struggling with post-collapse negative equity, and the market has been growing at over 5% per year. Home values have nearly doubled since the collapse, and are only projected to slowly accumulate more value. This is a good sign in terms of stability. The market is warm, edging on becoming a seller’s market. People want to buy homes in Sacramento, especially when the price is right.
Homes in Elmhurst, New Era Park, and around Winn Park Capital Avenue tend to sit on the market for the least amount of time. They’re affordable for the area while still upholding the standard that most discerning buyers set for their future homes. High priced homes in East Sacramento may sell a little slower, but they usually find the right buyer in a reasonable time-frame. With only 12.3% of homes selling at a price cut, it’s a good time to sell in these popular areas.
Homes outside of these neighborhoods may not fare as well. Subdivisions like Lemon Hill, Rio Linda, Florin, Rosemont, North Highlands, Parkway, Citrus Heights, and Rancho Cordova aren’t seeing too many sales. The low home values, sparse population density, and high unemployment rates in these neighborhoods work against homeowners looking to sell. This doesn’t mean these properties are impossible to move – they’re just a little more difficult to sell and require some out-of-the-box thinking.