Local Real Estate News

From your local Sacramento neighborhood expert, Carlos Montoya

Sacramento Average Home Values

Sacramento Average Home Values

In determing Sacramento average home values, the region is divided, encompassing cities from nearby counties such as Placer, El Dorado, and Yolo – each of them effectively communities all their own by comprisin the Greater Sacramento area. Sacramento County is a very mixed bag in terms of real estate values. Many middle income families settling in Natomas, Elk Grove and Citrus Heights. Higher end home values in the Sacramento area can be found in El Dorado and Placer counties. With luxury properties easily found in Roseville and Granite Bay. While the difference in values is noteworthy, the increments are reasonable on a neighborhood by neighborhood basis. One thing is for certain says Carlos Montoya of Dean Adams Real Estate Brokerage “As demand in the Sacramento Real estate market continues to surge, so will prices.”

Sacramento’s real estate is situated to suit a wide array of lifestyles. There’s so much to choose from, and there’s a buyer for every niche. Homeowners in areas like Folsom can expect to sell fairly quickly. Homeowners in areas like Rancho Cordova can expect to sell their homes in a timely manner, though perhaps not as timely as homeowners who are selling upscale properties in Sacramento suburban areas.

Sacramento Average Home Values Have Risen in 2016

We’ve assembled a list of Sacramento median home prices that encompass the most sought after areas in the region. This list demonstrates what a hot real estate market the Sacramento area really is right now. The suprise of the season is definitely West Sacramento which saw an almost 11% jump in home values this year, which is a direct correlation to the new downtown arena and other Sacramento real estate developments.

Sacramento Area Average Home Values

  1. Sacramento Average Home Values – $269,000 | Increase of +11.8% year over year
  2. Folsom Average Home Values – $492,500 | Increase of +5.6% year over year
  3. Granite Bay Average Home Values – $694,200 | Increase of 5.5% year over year
  4. Roseville Average Home Values – $399,300 | Increase of +5.2% year over year
  5. Elk Grove Average Home Values – $370,000 | Increase of +7.2% year over year
  6. Rancho Cordova Average Home Values – $312,900 | Increase of 7.7% year over year
  7. West Sacramento Average Home Values – $320,600 | Increase of 10.9% year over year
Sacramento Area Average Listing Prices

While these are the average values, some variables may exist. There are certainly homes that will sell for more than $350,000, and there are homes worth less than $250,000. Things like the neighborhood in which the home is located and the property’s current state of repair can have a significant impact on the property’s fair market value. With that said, there are certainly bargains to be found in the Sacramento area for those looking for one. You just have to be searching in the right area if you want to find those homes.

The Most Affordable Areas To Live in Sacramento

  1. Rio Linda Average Home Values – $179,300
  2. Citrus Heights Average Home Values – $190,200
  3. Florin Average Home Values – $142,300
  4. Elverta Average Home Values – $174,100
  5. Rosemont Average Home Values – $185,300
  6. North Highlands Average Home Values – $143,300
  7. Foothill Farms Average Home Values – $164,100
  8. Antelope Average Home Values – $210,400

We’ve compiled this list looking at the most affordable areas to live in Sacramento based on the following criteria:

  • Cost of living
  • Median home price
  • Percentage of income spent on rent
  • Affordability ratio (the median home price divided by income)

Buying or selling a home in Sacramento? Speak with Sacramento Real Estate expert, Carlos Montoya!

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