Home owners often wonder how far the real estate market in the Sacramento area has declined since the housing “bubble” burst several years ago. Or in other words, if you bought your house today, how far back would you have to go to find the same price in the past? The graphs below from the Sacramento Association of Realtors help answer this question as they compare median sales price in respective zip codes to the county-wide median sales price from 1997 to 2010.
Have a look at the following graphs, see my commentary below, and let me know what you think. What do you see?
Carmichael Trend Graph (95608 zip code):
Elk Grove Trend Graph (95624 zip code):
Elk Grove Trend Graph (95758 zip code):
Fair Oaks Trend Graph (95628 zip code):
Greenhaven / Pocket Trend Graph (95831 zip code):
Land Park / Curtis Park Trend Graph (95818 zip code):
Mather Trend Graph (95655 zip code):
West Sacramento Trend Graph (95605 zip code):
Basically, if you bought a house today in the post-bubble real estate market in Sacramento, you’d be paying somewhere around late 2001 house prices generally (depending on the area of course). Many areas currently have a median price somewhere just before 2002, while some of the higher-priced zip codes tend to have a median price level right now closer to 2003-ish level. Keep in mind too that each house is different and may or may not be consistent with the overall zip code trend.
If you have any questions or insight, I’d love to hear your comment belows. If you have a need for my real estate appraisal or consluting services also, feel free to call 916.595.375, visit my website at www.LundquistCompany.com or email ryan@LundquistCompany.com.
How do the graphs above strike you?