“River Park” Neighborhood Real Estate Market Trends (Sacramento)

“River Park” is a neighborhood in Sacramento just under the American River Parkway and North of H Street and East of the railroad. The neighborhood consists mostly of single family detached properties built in the 50s and 60s along with a smaller amount of multi-units, a commercial strip, and local park (Glen Hall) and school. The boundaries of River Park are shown below.

In the words of the River Park Neighborhood Association :

River Park is special in part because of the way it is situated: bordered by H Street on the south, the American River on the north and east, and the Southern Pacific Railroad on the west. It features two public accesses to the American River, two renowned parks, a thick canopy of old-growth and new-growth trees, abundant wildlife among a large riverside habitat, an exemplary K-8 school, easy access to Sacramento State University, and several supportive businesses.

Services at the Carlson Drive shopping center include an Italian restaurant, Chinese restaurant, market, barber shop, beauty salon, dry cleaning, dentist, and pet grooming.

River Park’s residents are generally a mix of established and newcomers. Many of our neighborhood’s 1700 households are still occupied by original homeowners who moved here in the 1950s and 60s. River Park is also an increasingly attractive neighborhood to young families who are interested in good schools and proximity to urban work centers.

Below is a graph of all sales over the past three years (only sales listed in MLS) within the defined “River Park” boundaries as shown above.

River Park Neighborhood Real Estate Market Data (Sacramento):

• 10 current Active listings
• 2 current Short Sale Active listings
• 5 current Pending listings
• 2 sales over past 90 days
• 23 sales over past 12 months
• 105 sales over past 36 months
• Low sale in past 36 months:  $287,500
• High sale in past 36 months:  $879,000
• 2 sales under $300,000 in past 36 months
• 34 sales below $400,000 in past 36 months

What do you notice in the graph above? For starters, the graph does not resemble a ski slope as much as some other areas in Sacramento when plotting three years of sales. Would you say though still that the overall trend appears to indicate a decline over the past three years? It looks like the market has declined in that there have been less sales at higher levels, particularly above $500,000 lately. Most current listings within River Park are priced in the 300s or 400s too, though there is one pending sale at $695,000 (a newly constructed 3000+ square foot house. Well, technically this might not be “new” because if the owner did not remove all of the original structure, it could be considered a “remodel”).

One thing to consider in River Park is that properties can vary greatly in level of condition, size, upgrades, charm and overall desirability for buyers. This graph does not take into consideration any of these factors, but only reports the sales price and date of sale. More detailed analysis beyond this one graph would uncover more specific market trends for the River Park area (trends based on size, location within River Park, level of upgrades, style of property…). 

If you have any questions about the information above or any other appraisal-related questions or issues, please see our company website at www.lundquistcompany.comor contact me at 916-595-3735 or ryan [at] lundquistcompany [dot] com.

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