What’s been going on in the “Meadowview” real estate market in Sacramento? Meadowview is an area located in South Sacramento which is bordered by Florin Road to the North, Open Land to the South, Freeport Blvd. to the West, and the Light Rail line to the East. The data and trends below take into consideration the Southwestern portion of the Meadowview area as pictured in the map.
The above area is comprised of mostly single-family detached residences (some duplexes) buit between the late 1950s through the 1970s. There are a handful of properties built in the early 1980s too as well as a newer development within the Southwestern portion of this territory (houses built between 2001-2005).
Let’s take a look at the newer portion of Southern Meadowview:
Meadowview Houses Built after 2000 – Real Estate Market Trends:
- These houses were built between 2001-2005
- 168 sales in past 12 months
- 45 sales in past 90 days
- Median Price in past 90 days: $160,000
- Low Price in past 90 days: $111,000
- High Price in past 90 days: $260,000
- Average of 75 days on market for sales in past 90 days
- 1948 average square feet of living area
- 6 Active listings
- 21 Active Short Sale listings
- 39 Pending listings (median price of $174,900)
Let’s take a look at the older portion of Southern Meadowview:
Meadowview Houses Built before 1999 – Real Estate Market Trends:
- These houses were built mostly between the late 50s to late 70s
- 151 sales in past 12 months
- 54 sales in past 90 days
- Median Price over past 90 days: $62,000
- Low Price in past 90 days: $28,000
- High Price in past 90 days: $130,000
- Average of 105 days on market for sales in past 90 days
- 1192 average square feet of living area
- 9 Active listings
- 15 Active Short Sale listings
- 23 Pending listings (median price of $69,950)
It’s interesting to take a look at the data above and to see such a difference between two portions of the Southern Meadowview market even though they are located within the same general area. But this is true in so many settings and we regularly see a dynamic in real estate where buyers are willing to pay more or less for certain areas depending on location, quality of construction, condition of homes, year built, pride of ownership, the public perception of the area, etc… When comparing the older and newer portions of the Southern Meadowview area in Sacramento, there is a clear difference in median price level, size, and maybe even overall appeal. What else do you notice about the data or graphs presented above?
If you have any questions regarding the Meadowview area of Sacramento or any potential appraisal needs, feel free to see my company website at www.lundquistcompany.com, call me at 916-595-3735 or email at ryan [at] lundquistcompany.com I am available to assist local home owners, attorneys, buyers, banks, mortgage professionals and more.