What can you expect from the housing market in Sacramento in 2019? For a while buyers were driven away by high prices, but after a cooling off period buyers have started to return to the market. Prices aren’t rising as quickly as in the past.
While impacted by macroeconomic conditions such as the national economy and unemployment rate, within states and cities the local housing market can vary quite a bit. Even if the U.S. economy is doing poorly, a city that’s the new headquarters of a major corporation could be doing just fine. Even if you’ve lived in Sacramento your whole life, plan on doing some research before entering the housing market.
Sellers and buyers need to do their homework and ensure they’re up to speed on the very latest home values in Sacramento to get an optimal outcome on their sale or purchase. Knowing if a major corporation is coming into town will guide your marketing to their employees. If crime has been rising in your area, now could be the time to sell before it gets worse.
If you’re thinking about buying or selling a home in Sacramento this year, think about working with an experienced, local real estate agent for guidance and support.
2019 Home Value Trends for Top 5 Neighborhoods in Sacramento
If you’re thinking about buying a home in Sacramento, here are the top five neighborhoods. If you already own a home knowing the overall neighborhood’s trend for home values can help you establish an idea of your home’s worth.
You’ll find old trees and remnants of the city’s Spanish roots in East Sacramento. This part of the city is home to many young families who move there for its excellent parks and public schools.
According to May data from Zillow, the median home values in East Sacramento are $598,600. Values rose 2.9% last year, but aren’t expected to grow much in 2019.
New Era Park
A slightly more affordable part of the city, median home values in New Era Park are $474,400. You’ll pay more the closer you are to one of its three parks.
Schools rank a little lower than in East Sacramento but still earn overall good ratings. There are fewer families in New Era, only 15% of its residents have children, and it attracts more young professionals due to its bar and restaurant scene.
This area of the city has more crime than the previous two neighborhoods. It’s more urban, with bars, restaurants, and shopping, and occupied by young professionals. As you might expect from its name, it’s located near the UC Davis Medical Center.
Median home values are $427,900. They rose 6.8% last year and are expected to grow another 3.5% this year. There is some new development in the area, with dozens of new homes planned for a former fairground.
A more family-friendly neighborhood, Sierra Oaks has good public schools and low crime. Residents enjoy access to the American River along its southern border and the area features many parks.
Median home values declined last year, which is good for buyers, but they still stand around $474,900. It’s an exclusive and desirable area, with well-maintained homes that show pride of ownership. Homes sit on large, quiet lots, and it’s not uncommon to see wild turkeys roaming.
Curtis Park has quiet streets with plenty of sidewalks for pushing strollers, parks, and good schools. It’s highly ranked as one of the best neighborhoods in Sacramento to raise a family. Residents have a progressive and modern vibe.
The median value of homes in Curtis Park is $559,200, and remains relatively flat year over year. Find the only dedicated arts and crafts community center in Curtis Park, as well as a local theater.
The Best Time to Buy a Home in Sacramento
The best time to buy a house will depend upon your home buying goal. If you want to have the most inventory to choose from and the price you pay is less important, than you should shop in the spring and summer. If the home’s price is your prime consideration then buying a home in the off-season could lead to considerable savings.
According to data from Redfin, Sacramento homes that are listed in the winter take 27 days to sell, compared to 15 in the summer. If a seller lists in the off-season they likely have a pressing need to move, whether it’s for a job relocation or a divorce. Sellers whose homes have sat on the market for a while will be more open to negotiations, so now would be the time to buy.
Sacramento is a hot housing market, so there is less price differential between seasons. But the median price of homes sold in the winter is $311,000 versus $326,000 in the summer. When trying to time the market, work with a realtor who has in-depth knowledge of local trends..
The Best Time to Sell a Home in Sacramento
The best time to sell your Sacramento home fast is often the opposite of the best time to buy. That’s because buyers want to pay less for a house but sellers typically want to get more. Listing your home in the spring yields the best median home price, $328,000, and it could sell in just 12 days. But summer is just three days longer and $2,000 less, so you’ll be okay if want to wait until school’s out to list.
It would be a costly mistake to assume that, just because it’s a hot housing market, you don’t have to do anything to sell your home. While you could sell it “as is,” if you want to get top dollar and possibly a premium for your property you should still market your home. Talk to your realtor about any repairs you should make before listing, or whether or not you should hire a staging company.
How to Find the Perfect Sacramento Real Estate Agent
Both buyers and sellers should work with an experienced real estate agent. The home selling and buying process involves a lot of important steps, from home inspections to paperwork, and with the amount of money involved in buying a home in Sacramento you don’t want anything to go wrong.
Clever has top agents in the Sacramento area who are the best negotiators from major brokerages such as Keller Williams and Century 21. And working with them will save you thousands of dollars.