What’s been happening in the Citrus Heights real estate market? I wanted to give you a glimpse below at some market-wide data to help give some insight. Of course, keep in mind that a specific property in Citrus Heights may or may not fit in with the general trend of the data below.
As you can see, when looking at all sales from 2006, property values have clearly declined over time. When you consider the lower end of the market was hovering around $250,000 in mid-2006, but is now closer to $100,000, the drop in property value is pretty substantial. There is big difference for the upper end too.
But at least the past three years have shown a bit more stability, right? That’s encouraging news for home owners (I know real estate data can feel dysmal at times). Overall the trend below over the past three years appears to show a decline, but the blue dots representing sales sure do look a whole lot more horizontal over the past couple years.
For historical reference, below are two graphs of all sales in Citrus Heights between 1997-2010 based on the 95610 and 95621 zip codes. The blue line represents monthly median price figures for the respective zip code, whereas the red line shows the market-wide median price (Sacramento Area). These historic graphs come from the Sacramento Association of Realtors.
Specific Citrus Heights Real Estate Market Data:
- 217 sales over the past 90 days.
- 171 current active listings
- 108 current active short sale listings
- 84 current short sale contingent listings (this means an offer has been submitted already)
- 39.5% of all sales over the past year were REO (bank-owned)
- 25% of all sales over the past year were Short Sales
- Roughly 65% of all sales were distressed in some regard (REO or SS)
- Unemployment in Citrus Heights is 9.0% per EDD (as of 11/2010)
- Unemployment in Sacramento County is 12.8% per EDD (as of 11/2010)
If you’ve been looking for Citrus Heights real estate information, I hope this was helpful for you. What do you see in the data above? Does anything stand out to you? Keep me posted if you have any questions or a need for a real estate appraisal. I do appraisal work for estate planning, probate, divorce, second opinions, FHA, property tax appeal, private loans, bankruptcy, and so much more. Call 916.595.3735, email me, or visit my company website.