Sacramento home prices hit 10-year high
Sacramento County home prices have reached their highest point in a decade.
The greater Sacramento housing market once again saw strong increases across all sectors, according to data released by real estate market tracker CoreLogic. The median price among March sales of all homes – including new and resale houses and condos – was $312,000, up almost 6 percent from March 2016 and the highest since 2007.
The median price of existing homes in Sacramento County also increased 5.1 percent to over $295,000 since March of last year, while sales volume increased a total of 3.4 percent. Resales alone accounted for the best March in four years, says SacBee.com.
Home prices in Placer and Yolo counties are following a similar trend. The median price of all homes in Yolo increased 10.3 percent over the last year, while resale homes increased 4.5 percent. In Placer, median home prices increased 8.6 percent since March 2016, while the median price of resales was up 8.9 percent.
These continued housing trends aren't limited to the Sacramento region. Median home prices once again increased in the major markets throughout California.
The median sales price for all homes sold in the Bay Area in March was up 9.1 percent from March 2016. The median price paid for all Southern California homes sold in March was $480,000, also highest since August 2007.