Sacramento Housing Market: Trends & Prices

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    Sacramento Real Estate Market Overview

    (Last Updated – 06/2020)

    Sacramento is most famous for being the capital of California, but this city has so much more to it than just historic appeal.

    While there are plenty of landmarks and historic spots to visit, you can also check out some of their amazing parks, lakes, fishing piers, golf courses, and other fun activities that take advantage of Sacramento’s 269 sunny days every year.

    A median income conducted by U.S. News & World Report found that Sacramento is the 17th most expensive city in America, yet the 2019 study for residents is only $65,046

    The study also found that residents of Sacramento spend 26.55% of income on living expenses and that the median monthly rent is $1,157 in this city. A high cost of living may be why only 49% of Sacramento residents are homeowners. The average price per square foot in Sacramento is $241.

    Cost aside, Sacramento has a lot to offer for families and career focused individuals. Sacramento landed the 44th best on Wallet Hub’s 2019 Best & Worst Places to Raise a Family.

    The city has also seen some exciting employment growth in recent years. From 2017 to 2018, employment opportunities in Sacramento grew by 2.48% from 234,000 to 240,000 employees.

    $360,000

    Avg. Home Price

    $252

    Avg. Price Per Sq. Ft

    10 days

    Avg. Time on Market

    Sacramento Housing Market Forecast

    If you’re wondering what Sacramento housing prices could look like in the future, consider checking out this Sacramento real estate forecast.

    The median house price in Sacramento rose by 7.9% in the past year, but is expected to neither rise nor fall within the next year.

    Housing market forecast chart

    *Graph taken from Zillow as of 06/2020

    Demographics of the Sacramento Market

    While each neighborhood in Sacramento has its own unique demographics, attractions, and real estate market, it’s worth checking out the Sacramento market as a whole before diving deeper into each neighborhood.

    Median Income: $65,046

    Median Age: 34.3

    College Educated: 30%

    Homeowners: 49%

    Married: 48%

    Midtown

    From farmers markets to art to a bustling restaurant and festival scene, Midtown has it all. This neighborhood is perfect for families, is full of tree-lined streets, and is very bike-friendly.

    The median housing costs each month are $1,070 and there are over 2,400 housing units in this neighborhood.

    Quick Facts

    Population:

    3,871

    Median Age:

    34

    Housing Units:

    2,404

    Bike Score:

    98

    Walk Score:

    88

    Transit Score:

    53

    Average Household Income:

    $82,993

    Midtown Housing Market

    Housing prices have dropped slightly in the past year in Midtown (4.9%), but it’s still a very competitive housing market with many homes receiving multiple offers and selling in 31 days.


    Average Home Price

    $619,000

    Average Price Per Sqare Ft.

    $314


    Tahoe Park

    Locals and food critics alike swear up and down that stopping by Bacon & Butter in the Tahoe Park neighborhood for brunch is a must. Especially if you love cinnamon buns.

    If you want to walk off a heavy meal, the obvious appeal of living in Tahoe Park is the access to well, Tahoe Park. This park has basketball, volleyball, softball, and soccer courts and fields, as well as a pool and play areas to enjoy.

    Quick Facts

    Population:

    4,179

    Median Age:

    35

    Housing Units:

    1,720

    Bike Score:

    71

    Walk Score:

    58

    Transit Score:

    36

    Average Household Income:

    $62,509

    Tahoe Park Housing Market

    If you want to buy a home in Tahoe Park, be prepared to face some steep competition. In an extremely competitive housing market, Tahoe Park homes often receive multiple offers, sell in eight days, and sell for about 2% above list price. Really in-demand homes can sell in around five days and sell for around 6% above list price.


    Average Home Price

    $395,000

    Average Price Per Square Ft.

    $375


    Land Park

    If you have your heart set on a historic home, then check out some of Land Park’s beautiful options from the 1930’s and 50’s.

    Close proximity to William Land Park and the Sacramento Zoo makes this neighborhood a family favorite. Not to mention, children will love the famed Fairytale Town, a storybook-themed park that is sure to foster their imagination.

    Quick Facts

    Population:

    8,880

    Median Age:

    39

    Housing Units:

    4,084

    Bike Score:

    89

    Walk Score:

    63

    Transit Score:

    43

    Average Household Income:

    $104,137

    Land Park Housing Market

    In Land Park’s very competitive housing market, it isn’t unusual for homes to get multiple offers and to sell in around 14 days. Popular homes can sell in just around seven days.

    Housing prices have dropped dramatically in this area (37.1% since last year) which may contribute to why it’s such a competitive market right now.


    Average Home Price

    $475,000

    Average Price Per Square Ft.

    $462


    Natomas

    Close proximity to two major freeways and the Sacramento International Airport gives Natomas residents plenty of travel options.

    With more than 2.8 million square feet dedicated to retail, there are plenty of shopping and employment opportunities.

    There are also some large office parks and educational facilities that can help residents reach their goals. It sounds like go-getters will feel right at home in Natomas.

    Quick Facts

    Population:

    15,245

    Median Age:

    32

    Housing Units:

    5,710

    Bike Score:

    64

    Walk Score:

    44

    Transit Score:

    30

    Average Household Income:

    $77,487

    Natomas Housing Market

    Home prices are on the rise in the Natomas housing market. The average sale price of homes in this neighborhood has risen by 4% since last year, with each square foot raising almost 5% in value.

    You may want to act fast if you find a home you love in this area, as homes typically sell in under a month at an average of 27 days on the market.


    Average Home Price

    $365,000

    Average Price Per Square Ft.

    $230


    Elk Grove

    From simple starter homes to sprawling ranch estates, Elk Grove has it all. This family friendly neighborhood is home to more than 170,000 residents and has around 52,000 households.

    An award-winning school district, world class restaurants, and a bustling international airport lend further appeal.

    Quick Facts

    Population:

    168,503

    Median Age:

    36.6

    Housing Units:

    53,728

    Bike Score:

    46

    Walk Score:

    32

    Transit Score:

    N/A

    Average Household Income:

    $108,868

    Elk Grove Housing Market

    Get ready to roll up your sleeves and get to work if you want to find the perfect home in Elk Grove.

    This neighborhood is considered to be very competitive when it comes to buying a home as most homes receive multiple offers and sell around their list price in 11 or so days.

    In-demand homes can be even more competitive selling in around just six days for 2% above list price.


    Average Home Price

    $461,000

    Average Price Per Square Ft.

    $235



    SoFi Home Loans

    It’s easy to see why Sacramento has become such a popular market to buy a home in. There are some really amazing neighborhoods to choose from whether you’re young and single or have a family to look after.

    If you think Sacramento could be your home sweet home, then you may need to consider your home loan options.

    If you’re buying a home or refinancing an existing mortgage, SoFi can help you make the process as quick and painless as possible.

    Learn more


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