What’s been happening in the Gold River real estate market over the past several years? Gold River is a census designated place located just east of Rancho Cordova, south of the American River, and north of Highway 50. This HOA community has 25 separate villages and a combination of detached and attached housing – all single family residential. Gold River has the lowest unemployment rate in Sacramento County right now at 2.1% as of September 2009, but that does not mean that home values have been unaffacted.
What do you notice about the graph above? It looks like the upper end of the market above $550,000 has pretty much disappeared during 2009. It’s also evident that in the midst of a downward trend over the past several years that there have been few sales under $300,000. What else do you see? If you are a local Realtor or home owner in Gold River, what insight do you have into your market, and why is Gold River desirable to buyers in the marketplace (as a real estate appraiser, I love to hear people respond to questions like this)?
Gold River Real Estate Market Data:
- 251 sales over the past 3 years
- 62 sales over the past 12 months
- 13 sales over the past 90 days
- 11% of all sales over the past 12 months were REO (bank-owned)
- 3% of all sales over the past 12 months were Short Sales
- 29 current active listings
- 13 current active short sale listings
- 6 current pendings
The lower Western portion of the Gold River area is comprised of a subdivision called “Gold River Station”. Since Gold River Station is not a part of the Gold River HOA, it was prudent to look at data separately from Gold River. Sometimes outsiders to the area get confused about Gold River Station and therefore lump it in with Gold River, but it’s not a part of the Gold River neighborhood.
It’s not hard to see that there is a big value difference between Gold River and Gold River Station. Whereas there are few sales under $300,000 in Gold River, it appears that most recent sales in Gold River Station sold under $300,000. What else do you notice when comparing the graphs?
Feel free to contact me at 916-595-3735 or ryan@lundquistcompany.com if you have any questions about the local real estate market or any appraisal needs.
www.SacramentoAppraisalBlog.com Gold River Market Trends: Past 3 Years of Sales