Here is a panoramic view of the real estate market in the “Independence at Mather” subdivision in Mather, CA. All blue dots below represent sales in Sacramento MLS.
What do you see?
My thoughts on the Mather real estate market:
- First off, if this type of data makes you feel depressed, that’s understandable. I’d recommend not digesting these types of graphs if it doesn’t do good things for you emotionally. It’s not easy to swallow property values sometimes, and I get that. I purchased my home in 2004 and I can assure you I feel your pain.
- It looks like the market has really bottomed out. This doesn’t mean that it can never go below $150,000, but it is interesting to note a low point around $160,000-ish that was reached in 2008. This low level has been fairly consistent since that time as properties have continued to not sell below this marker (for MLS sales).
- Property values have clearly declined over the past three years.
- Keep in mind that many of the above dots represent distressed sales. True market value is often higher than where REO and Short Sale properties close. Yet, the distressed market tends to have a strong impact on property value in a neighborhood.
- Most sales are below $250,000. Properties above this level in Mather have tended to be ones with larger square footage and larger lot size (no surprise there). It always helps in Mather to back to open space too.
- Many home owners are likely paying too much in property taxes because of the decline in property value. If you want me to check out your property for free to see if there is a potential savings for you, fill out THIS form and I’ll get back to you promptly (this is my property tax appeal company).