Nobody predicted 2020. Who would’ve thought during a pandemic we’d see such an explosive year in real estate? The expectation was that the market would start to tank, but we saw the exact opposite. It’s not just Sacramento either because many areas of the country experienced this same dynamic. Anyway, enjoy some brand new visuals if you wish. Thanks for being here.
THE SHORT VERSION:
Here is a highlight reel to talk through some of the bigger themes this year. In short, the stats are stunning.
What stands out to you?
THE LONGER VERSION (organized by county):
1) Sacramento Region
2) Sacramento County
3) Placer County
4) El Dorado County
5) Yolo County
6) Bonus visuals
I welcome you to share some of these images on your social or in a newsletter. Please use this stuff. In case it helps, here are 5 ways to share my content (not copy verbatim). Thanks.
1) SACRAMENTO REGION:
2) SACRAMENTO COUNTY:
3) PLACER COUNTY:
4) EL DORADO COUNTY:
5) YOLO COUNTY:
6) BONUS VISUALS:
Here are some extra regional graphs to show how various counties are moving together.
Other visuals: Not that you needed more, but check out my social media in coming days and weeks for extra visuals. I am posting daily stuff on Facebook, Twitter, and LinkedIn. Oh, and sometimes Instagram.
Thanks for being here.
Questions: What stands out to you most about 2020 real estate? Any stories to share? I’d love to hear your take.
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Down in Orange County, 2020 turned out much different than I had imagined in late March when we went into the Safer At Home lockdown. 2020 brought OC an almost 10% increase in median price countywide. For a number of reasons, listings in the “affordable, entry level” (under 1 Mil, LOL) are virtually non existent currently. Many sales are happening off market within real estate offices. There are plenty of properties over $5 million available on the MLS, but at the lower end of the spectrum the listings are sparse and they sell very fast-if priced right. The trend of low inventory and higher median sales prices seems to be consistent nationwide. The housing market and the stock market seem to be defying all logic, I wonder what might happen next?
Thanks Mark. I always like to hear about your market. I recall early on during the pandemic you sent me a link to an OC webinar and it’s pretty much played out just like the speaker said (smart title guy). The headlines are glowing, but we’re still at the beginning of this and we have no idea of the real effect of the pandemic on the economy and job market in particular. I do think one unexpected consequence has been being able to work from home (for some of the population). What a game changer…
Thank you Ryan- As always you break it down so clearly for all of us! Sharing your Blog with all of my clients.
You are so welcome. Thanks so much Andrea. I really appreciate you.
Thank you, Ryan. I am a retired attorney/appraiser/professor, but I still manage both residential and commercial properties as part of family trusts. I very much value your data and your analysis I was a commercial property appraiser for years in Southern California (MAI; CRE). I did appraise homes, but usually as a subdivision analysis
to get to an underlying acreage value. I always looked at the the macro and micro markets, and did quasi-statistical analyses– with graphs– to isolate the adjustments for variables. Thank you for keeping us all so well informed.
Thanks Briana. I really appreciate your comment and I welcome your insight any time. You have worn quite a few professional hats that are all really interesting on their own. 🙂
I don’t know if I’ve ever seen such an unrelenting median price trend that does not seem to care that the end of summer came.
It was incredible to watch. The only other market I can think of where the spring basically didn’t stop was 2012 when Blackstone was buying so many properties in Sacramento. Otherwise this is extremely atypical. I’d suggest this most recent stint was even more aggressive than what we saw in 2012.
Ryan, as always these visuals are great! Thanks for all the work you do to bring this to us Realtors!!
Thank you so much Diana. I appreciate the kind words.