I put together a series of city-wide graphs to show the past three years of home sales within Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights. It’s always interesting to me to take a look at a market-wide graphs to try and make sense of what property values have done over a specified time period. When looking at data like this, I ask questions like: What is the lower end of the market doing? Have there been any changes in the upper end? What does the overall trend look like? Declining? Stabilizing after a decline? Increasing? What types of circumstances may have triggered a change in the overall price levels during various times over the past three years? New laws or regulations? Unemployment? Loan rates adjusting? Economic factors? Zoning?
All graphs below are based on information from Sacramento Metrolist between 08/28/2006 to 08/27/2009. The points on the graphs represent single family residential detached units.
Number of Sales in the Past 3 Years:
- Folsom: 2,183
- El Dorado Hills: 1,665
- Rancho Cordova: 1,732
- Citrus Heights: 2,374
What do you see? What does it look like the market has done in the areas below? Does anything stand out to you or surprise you? What do you notice about the higher end of the market on all of the graphs?
Folsom Real Estate Market Trends:
El Dorado Hills Real Estate Market Trends
Rancho Cordova Real Estate Market Trends:
Citrus Heights Real Estate Market Trends:
City-wide data is important to look at because what is happening in the overall city can sometimes have an impact on smaller niches and portions of housing within the same city. This is not always true, but it’s relevant to at least be aware of what is happening in the overall market so that we can more readily decipher a city’s sub-markets.
On the other hand, one of the glaring downfalls of city-wide data is that information is too general to really draw neighborhood-specific conclusions from. As we all know, each city or area typically has a host of different types of neighborhoods, and these pockets of real estate can vary drastically from each other in terms of buyer perception, price range, and many other factors. For example, Rancho Cordova has two main zip codes and the 95742 zip code (Anatolia) is far different from most of the 95670 zip code (everything else). Or properties near Old Town Folsom may have weathered the market differently than those in Empire Ranch. Or Governor’s Village and Serrano in El Dorado Hills may show differing market trends because of location, square footage, year built, or some other factor.
With all that being said, I am very curious to hear your observations and insight about the city-wide trend graphs above. Feel free to comment above (just below the post title) or email info@lundquistcompany.com. If you are in need of additional and more specific research or an appraisal, let’s talk soon (916-595-3735).
http://www.lundquistcompany.com/blog Real Estate Market Trends: Past 36 Months of Sales in Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights (August 2006 – August 2009)
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One of the key factors for our market to improve and get back to “normal” is for the oversupply of foreclosure properties to be absorbed. Basically, it’s a messy real estate market out there in the Sacramento Region, and the mess has to be dealt with to move on.
