The Million Dollar Market in Sacramento County

Overall the million dollar market in Sacramento County has grown much stronger since values bottomed out in early 2012. There have been over twice as many million dollar sales over the past two years compared to the previous four years. In fact, of the 254 million dollar sales on MLS over the past 6 years, over half of them sold in 2013 and 2014 (137 sales total). The same is true of the market above 1.5M in terms of sales volume (huge uptick in 2013 and 2014).

There were 6 sales above 1M in October on MLS. They took 84 days to sell on average. There is currently 11.81 months

of housing inventory above 1M in Sacramento County (as opposed to 2.5 months of inventory for the entire market in the

county). The average price sold above 1M last month was 1,341,635. The smallest house was 2946 and the largest

house was 5127 (sq ft). The highest sale last month was $1,600,000. The highest sale in 2014 above 1.5M in MLS was

2,437,500 in September 2014. There are 13.5 months of housing inventory above 1.5M right now. Overall there are more

listings this year above 1.5M (and 1M) compared to last year, but inventory is at a fairly balanced level for the time being

considering how high inventory was in previous years. Stats as of 11-08-2014 (single family sales on MLS).

If you have any questions or insight, let me know. If you need graphs, simply reach out.

Ryan Lundquist

Certified Appraiser

TEL 916-595-3735

www.SacramentoAppraisalBlog.com

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