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Condos in Sacramento

Seeing real estate trends in Sacramento (you pick the neighborhood)

March 5, 2014 By Ryan Lundquist 6 Comments

Let’s look at some specific neighborhoods today in Sacramento. How is the real estate market evolving in each of these areas? In this post I plan to include 10 graphs, but the fun part is YOU CHOOSE which ones I make.

HOW IT WORKS: Email me a request to graph a specific neighborhood or area. I’ll then make a graph like the ones below and post it here over the next few days. Keep checking back. You can use the graph as personal research, for a listing presentation or post online as you see fit. I’ll need three things:

  1. Name: Location or name of neighborhood (in Sacramento, Placer or Yolo).
  2. Time: How many years of sales do you want on the graph (1 to 5 years)?
  3. Other: Do you want to see all sales? Or would you like to refine data to see a certain square footage range, bedroom count, etc…?

Send me a quick email? Seriously. ryan@lundquistcompany.com

NOTE: I have all graphs in larger sizes if you need them. Just email me.

1) Antelope: Here all all sales over the past 5 years in Antelope per request of Scott. Isn’t it interesting to see how the market has moved? Bottomed out in early 2012, massive appreciation and then leveling off.

All Antelope Sales - 530

2) Days on Market for Antelope Sales: How long have sales in Antelope spent on the market? Here are all sales. A chart of average number of days on market each month or quarter would be great, but maybe in a different post.

days on market for all sales in Antelope in MLS - 530

3) Midtown/Downtown: Per request in a comment below, here are all sales in Midtown/Downtown from 0-2 bedrooms and under 1000 sq ft. This graph only includes single family sales – NOT condos. What do you see?

Midtown Downtown Sales in Sacramento - SFR Detached Only - NOT Condos

4) Elk Grove: Per request of Bruce, here are all sales between Bruceville, Franklin, Bilby and Elk Grove Blvd. This is the 95757 zip code. Any thoughts?

Elk Grove Market Trends - by Sacramento Appraisal Blog - 530

5) Arden Manor: Per request of Cass, here are all 3-Bed / 1-Bath sales in Arden Manor (located off Watt Avenue in Sacramento in case you are not familiar).

Arden Manor Sales - by Sacramento Appraisal Blog - 530

6) Carmichael: Per request of Susan, here are all 3-4 bedroom sales in Carmichael over the past five years. I took the liberty to include only sales under $1,000,000 because there were only a handful above that level (and including them made the graph less legible). It would be interesting to see a precise square footage range in Carmichael as a follow-up to this graph.

carmichael sales 3-4 bedrooms - 530

7) Natomas: Here are all sales in the 95835 zip code for houses at 3200 sq ft or larger (hope you like this one John).

Natomas 95835 Sales - 3200 sq ft and larger - 530

8) Elk Grove: This is a graph of all sales in Elk Grove under $400,000 with 3-4 bedrooms, 1500-3000 sq ft of living area and properties built between 1997 to 2007. Hope you like it Gary.

Elk Grove Market Data - 530

9) Condos in City of Sacramento: This pie graph helps shows all condo sales in the City of Sacramento from 2010 to 2014 – and it really says something about the market, doesn’t it? Being that many condo complexes have too many rentals, pending litigation or some other issue that is a turn-off for financing, there has been a very high percentage of cash purchases. Note this is the City of Sacramento and NOT the entire county. Hope you enjoy this one Barbara.

condo sales in city of sacramento

10) Laguna West in Elk Grove: Here are all sales with a gross living area between 2400-3000 and with no pool in the Laguna West neighborhood over the past three years. Hope you like this one Doug.

Laguna West Sales - 2400-3000 GLA - no pool - 530

Examples for Blog Post:

1479 model in Mather

Mather: This graphs shows all 1479 model sales in Mather over the past five years. I appraised a model recently that was priced beyond the highest recent sale. It was out of sync with the market.

Gold River Station Sales

Gold River Station: It’s easy to confuse Gold River Station with Gold River, but they are two different areas. Gold River Station is located just north of Highway 50 and immediately south of the Gold River HOA. Gold River Station is not a part of Gold River, which is important to consider when choosing comparable sales.

Any thoughts, insight or questions?

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Filed Under: Market Trends Tagged With: 95757 zip code, 95835 zip code, Antelope Sales, Arden Manor, Arden Manor sales, Carmichael, cash sales condos, Condos in Sacramento, Downtown, Elk Grove Real Estate, Gold River Station, Graph of Sales in Antelope, graphs of sales, Home Appraiser, House Appraiser, Laguna West, Market Trends, Mather, Midtown, Natomas, real estate sales Carmichael, Sacramento Neighborhoods, Sacramento Real Estate, trend graphs

How much is one extra bedroom in a Sacramento condominium worth?

November 15, 2010 By Ryan Lundquist Leave a Comment

Numbers can tell us anything. For instance, we can look at median price or price per square foot for a particular neighborhood or zip code, but these figures do not necessarily reflect specific market value for a specific property, do they? For example, let’s glance at a condominium subdivision in the 95825 zip code of Sacramento as an illustration. The median price for the year for the entire subdivision (all sales listed below) is around $70,000. However, this figure alone does very little to help us understand the market because there is a clear distinction between 1-bedroom and 2-bedroom units, isn’t there? You can see below that 1-bedroom condos are bracketed between $45,000-$65,000 whereas 2-bedroom units sold between $75,000-90,000 more or less (with only one 2-bedroom condo above $100,000).

So how much is the market willing to pay for an extra bedroom in this complex? Before reading the next few sentences, you be the appraiser and tell me. Based on the graph above it looks like the difference in price between 1 and 2-bedroom condos is generally about $25,000-$35,000 (plus or minus). Other factors to consider in the valuation process of course would be floor location, condition, level of upgrades, location of the unit (next to swimming pool, secluded, backs busy street, interior unit, etc…). 

Why do you think the market is willing to pay so much more for a 2-bedroom unit? What advantages does a two-bedroom have that a one-bedroom does not? I’d love to hear your insight.

If you have any questions about the appraisal process or condominiums in the Greater Sacramento Region, give me a call at 916.595.3735, email me, or catch me on Facebook.

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Filed Under: Appraisal Stuff, Market Trends Tagged With: 95825 zip code, appraiser in Sacramento area, Condo Prices, Condominium appraiser, Condominium Subdivision in Sacramento, Condos in Sacramento, Lundquist Appraisal Company, Median Price, Real Estate Appraisal, Real Estate Appraiser, Sacramento Home Appraiser, Sacramento House Appraiser, worth of a bedroom

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First off, thank you for being here. Now let's get into the fine print. The material and information contained on this website is the copyrighted property of Ryan Lundquist and Lundquist Appraisal Company. Content on this website may not be reproduced or republished without prior written permission from Ryan Lundquist.

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The information on this website is meant entirely for educational purposes and is not intended in any way to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or any other potential real estate or non-real estate purpose. The material found on this website is meant for casual reading only and is not intended for use in a court of law or any other legal use. Ryan will not appear in court in any capacity based on any information posted here. For more detailed market analysis to be used for an appraisal report or any appraisal-related purpose or valuation consulting, please contact Ryan at 916-595-3735 for more information.

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