Did you hear about the 100 million dollar condo sale in New York recently? It’s hard to grasp just how much money that is for only one residence. For context, $100,000,000 is about a 19% ownership of the Sacramento Kings, a 10% share of the San Francisco Giants, or a 20% ownership of the Oakland A’s (Forbes). After reading about this sale from New York appraiser Jonathan Miller, and seeing his “tall” graph of the New York market, I was inspired to do something similar.
The Tallest Real Estate Graph Ever in Sacramento: From what I can tell, the image below is the tallest real estate graph ever in Sacramento. This is a unique view of the residential housing market from 2012 through 2014. What do you see?
The Small Version of the Graph Above:
Sales Above $1M in Sacramento County Since 2008:
When we look at the market in different ways, sometimes we can better understand it and then explain it to clients. I hope this was helpful and interesting. As always, feel free to share this post with your contacts, and if you plan to post a graph on your site or in your newsletter, please see my sharing policy (it’s an honor when people share – thanks).
Question: What do you see in the graphs above?
If you liked this post, subscribe by email (or RSS). Thanks for being here.
Hiya Ryan-
In my experience more than half of the sales at the upper 2% of the value range are not only all cash buyers but never see the MLS.
Do you cover the Shingle Springs area Ryan? I may have a lead for you.
True, Mike. I’d say there are sales at every price range that don’t make it to MLS. Private sales happen all the time. MLS gives us a solid picture still though. For any locals who know of any supremely high sales though, speak up. I’d love to hear your insight.
I appreciate you. I don’t do much in Shingle Springs. I have colleagues who do though, and I’d be happy to give a referral. Thank you very much.
Lots of fun Ryan. Thanks for that complete picture of your market.
Thanks Gary. The data geek in me is loving this new graph. It’s so good to see the market in many ways. I’ve had quite a few emails about it too, so it sounds like it’s resonating with others. I hope you’re enjoying your classes today, my friend.