What’s going on in the Sacramento real estate market in the South Oak Park area? I plotted some sales in the 95820 zip code and wanted to share the following. The trend graphs below are based on recorded single family residential sales in MLS for the following boundaries: 12th Avenue to the north, Highway 99 to the west, MLK Jr Blvd to the east, and Fruitridge Road to the south.
Do you see in the graph how a few horizontal lines help us see a clearer picture? It looks like the top has decreased, the bottom has increased, and the middle has become more tightly-packed together.
The second trend graph takes a closer look at the past year of sales from above. I like this one because it really shows a clear separation between the bulk of the resale market and the rest of sales in the neighborhood. Properties that were purchased previously as bank-owned fixers are now being rehabbed and they look to be selling between $100,000 to $125,000 for the most part.
How would you describe this market? What is influencing change? What has driven the upper end down and the bottom level up? Do you think government financing and tax credits are playing a role in some of the changes above?