In The News

HOME BUYERS STILL BUSY IN GREATER SACRAMENTO

11/14/16 by Lyon Real Estate

(SACRAMENTO, CA) – During the month of October, 2,620 resale homes went under contract across the Greater Sacramento Region. That figure reflected a 3 percent increase over September numbers and an 11 percent increase compared to October of 2015. Last month’s new pending sales also continued what is now an 8-month run of new open escrows above the 2,500 mark. By comparison, the prior 6-month period posted an average of 2,081 news sales per month. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.    

The number of active and available homes for sale however, dropped 9 percent since September and 10 percent compared to October of last year. This left market potential over the next few months in question with 1.7 months of inventory available market wide based upon the rapid rate of pending sales. Sacramento and Yolo counties have been exceptionally tight with inventory for months but now Placer and El Dorado counties have followed suit and remain at their lowest levels since May.

The $750,000 and above price point remained remarkably busy over the past 3 months; 360 properties were placed under contract as new pending sales and 343 were posted as sold and closed. These totals represented a 25 percent increase in both categories versus last year at this time. Inventory based upon the rate of new open sales is currently 5.5 months, the lowest since April.

The consistently scarce condominium segment was left with just 269 properties available for sale. This represents less than 1 month of inventory based upon the rate of pending sales. The average sales price was $211,000 compared to $180,000 in October of 2015, signifying even greater pain for entry level buyers. The average number of days on the market was 24.

“Anyone considering selling their home whether moving up, downsizing or changing locations should think about it right now,” says Pat Shea, president of Lyon Real Estate. “Buyers remain very eager to take advantage of the excellent values throughout the entire region. The average sales price has hovered around $395,000 for four straight months and interest rates remain in everyone’s favor. We can never be certain of what changes the New Year might bring.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 200 brokerages in 40 states. For more information about TrendGraphix, visit www.trendgraphix.com.

RESALE INVENTORY SLIPS IN GREATER SACRAMENTO

10/13/16 by Lyon Real Estate

A meager 4,828 homes were left active and available for sale throughout the Greater Sacramento Region on September 30th with no evidence that buyer demand is waning. That inventory number reflected 7 percent fewer properties available on the market compared to this time last year. Even though seasonal decreases in inventory are normal, last September started what would become a precipitous 40 percent plunge in inventory by February of 2016. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

Buyer demand however, is a vastly different story, as new open escrows finished 7 percent better in the third quarter versus 2015. More importantly, September’s new escrows were 17 percent higher than those posted in August, indicating no immediate fall-off in buyer demand. Sustained momentum is further evidenced by noting that 32 percent more new open escrows were posted in the past six months than the prior.  

Regardless of the high volume of sales, the median sales price for the region has stabilized and averaged $357,000 for the past 3 months. This represents an approximate 9 percent increase compared to this time last year. The average sales price was $395,000, an 8 percent lift versus the third quarter of 2015.

The entry level, defined as up to $400,000 held 2,245 or 45 percent of the remaining homes for sale at month-end. This marked 1.2 months of inventory based on the rapid rate of sales. The move-up market, now considered the $400,000 to $800,000 price range, held 1,993 properties or 2.1 months of inventory.  Less than 4 months of inventory is widely regarded a seller’s market.

“The 4th quarter is often one of the very best times to have a home on the market and ironically many sellers drop off or delay listing until sometime after the New Year,” says Pat Shea, president of Lyon Real Estate. “Homes look their very best due to holiday detailing and decorating. Buyers that are actively looking during the holiday and winter season are always serious and not just recreational shoppers. Currently, there is continued speculation of rising interest rates so buyers are eager to get into contract. No seller should delay if they want to get their highest and best offer into contract in the near future.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 200 brokerages in 40 states. For more information about TrendGraphix, visit www.trendgraphix.com.

THE LYON CARES FOUNDATION GRANTS $5,000 TO ONLY KINDNESS

09/28/16 by Lyon Real Estate

The Lyon Cares Foundation announced today that Only Kindness, Inc. is the recipient of a $5,000 grant. Only Kindness, Inc. serves vulnerable individuals, veterans and families who are disadvantaged or disabled, who need help with resources, disability advocacy and more. Only Kindness, Inc. plans to create a mobile care distribution center with this donation.

Operated by Lyon Real Estate, the Lyon Cares Foundation offers time, talent, and treasure to local nonprofits that make their communities a better place. Funds are raised through donations by Lyon agents and staff throughout the year in addition to Lyon’s annual Charity Golf Tournament.

Each of Lyon’s 14 offices throughout Greater Sacramento will give a $5,000 grant to an organization of their choice in 2016. Lyon’s Cameron Park office chose Only Kindness, Inc. to be the recipient of their grant.

“Only Kindness is grateful for the support that we receive,” said Rene Evans, president. “With donations such as this one, we are able to continue improving our outreach.”

“It gives us great pride to support an organization dedicated to helping at-risk disabled families and veterans,” said Lyon Real Estate president Pat Shea.

About Lyon Cares Foundation

The Lyon Cares Foundation provides time, talent, and treasure to local nonprofits that make their communities a better place.  Our partner in giving is the Sacramento Region Community Foundation.

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LeadingRE), the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/LyonRealEstate.

THE LYON CARES FOUNDATION GRANTS $5,000 TO WIND YOUTH SERVICES

09/28/16 by Lyon Real Estate

The Lyon Cares Foundation announced today that Wind Youth Services is the recipient of a $5,000 grant. Wind Youth Services is a local charity that provides homeless and at-risk youth between the ages of 12 and 24 with basic safety net and survival services, a safe place to stay, and access to on-going support services.

Operated by Lyon Real Estate, the Lyon Cares Foundation offers time, talent, and treasure to local nonprofits that make their communities a better place. Funds are raised through donations by Lyon agents and staff throughout the year in addition to Lyon’s annual Charity Golf Tournament.

Each of Lyon’s 14 offices throughout Greater Sacramento will give a $5,000 grant to an organization of their choice in 2016. Lyon’s Downtown office chose Wind Youth Services to be the recipient of their grant.

“Wind Youth Services is honored to receive ongoing support from the Lyon Cares Foundation,” said Scott Gregory, Board of Directors member. “Community partners like Lyon Real Estate help us so that we can continue to provide housing and survival necessities to homeless youth in our community.”

Lyon’s Downtown office has been a long-time supporter of Wind Youth Services, providing three cash grants over the past 12 months totaling $15,000.

“It gives us great pride to be able to provide positive change in the lives of the individuals that Wind Youth Services helps through the Lyon Cares Foundation,” said Lyon Real Estate president Pat Shea.

About Lyon Cares Foundation

The Lyon Cares Foundation provides time, talent, and treasure to local nonprofits that make their communities a better place.  Our partner in giving is the Sacramento Region Community Foundation.

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LeadingRE), the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/LyonRealEstate.

ENDLESS SUMMER FOR GREATER SACRAMENTO REAL ESTATE

09/13/16 by Lyon Real Estate

Buyers continue to apply unyielding pressure on the resale housing market across the entire Greater Sacramento region. New open escrows for the month of August totaled 3,064, 19 percent higher than August of 2015. That open escrow number also represented the highest number in any given month since April of 2012, when the median price was $195,000 and institutional investors were prolific in the market. The median price for all closed escrows during the month of August came in at $359,000, slightly down from the recent peak of $367,000 reached in June.

Voracious buyer demand and our persistently low level of inventory left the region once again with a remarkably scarce, 1.8 months of inventory at month-end. Sold and closed escrows totaled 2,726 during August which was second only to June for most closed sales over the past 12 months. This market information was reported by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

As is typical, Placer County saw the highest average list price at $699,000 and the highest average sold price at $474,000. There were 558 closed sales in Placer during the month of August. El Dorado and Yolo Counties experienced $466,000 and $462,000 average sales prices respectively. El Dorado County closed 272 properties and had the highest remaining inventory at 2.9 months based upon the current rate of closed sales. Yolo County logged 192 closed sales for the month and was left with 1.4 months of inventory at month-end.

Sacramento County posted 1,704 closed sales with the lowest average sales price for the region at $356,000. The higher number of more affordable homes was met with the highest buyer demand leaving the county yet again with a sparse inventory level of 1.6 months.

“The number of quality, new listings coming to market just cannot keep up with the steady stream of buyers eager to purchase a home somewhere in Greater Sacramento,” says Pat Shea, president of Lyon Real Estate. “It’s even tighter than most people realize, since 95 percent of our sales are currently below $750,000 with only 83 percent of our inventory in that space. Homes that are priced, positioned and marketed well will continue to sell in short order.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 200 brokerages in 40 states. For more information about TrendGraphix, visit www.trendgraphix.com.

GREATER SACRAMENTO HOUSING INVENTORY INCHING UP

08/17/16 by Lyon Real Estate

Greater Sacramento’s resale housing inventory during the month of July increased 7 percent over June and reached its highest level since September of 2015 as 5,031 homes were left active and available for sale at month-end. This market information was provided by TrendGraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

New open escrows throughout the region however, remained on a very rapid pace by posting a 10 percent increase compared to both last month and last July. These new sales are not all converting to actual sold and closed numbers though, as closed units were actually down 17 percent versus June and down 13 percent from July of 2015.

Pat Shea, president of Lyon Real Estate, cites a few factors contributing to this experience. “First and foremost, we are seeing a greater number of cancellations occur as would-be buyers get cold feet after the frenzy of multiple offer bidding has subsided and the inspection period begins. Then there is the seasonal increase in inventory as peak summer selling season begins to fade.”

Different price points continue to dictate varied experiences for buyers and sellers alike. In the entry level, typically viewed as below $350,000, there remains 1.3 months of inventory based upon the current rate of closed sales. These properties are also getting into escrow within an average of 23 days. Things are a little bit better in the move-up market, between $350,000 and $750,000, with 2 months of inventory available and approximately 34 average days on the open market prior to sale. Above $750,000 throughout the 4-county area, you will find 7 to 8 months of inventory based upon the rate of closed sales and homes on the market for an average of 85 days.

During the month of July, the median price softened to $357,000 after five straight months of increases and hitting a recent high of $368,000 in June. Shea states that "even with signs of price stability and rising inventory, we are still in a very tight market. Sellers can lessen their chance of cancellation by obtaining structural, pest, roof and even whole house inspections in advance and providing completed property disclosures upon entering the market. San Francisco and East Bay Realtors® have exercised this approach for many years to fully inform all parties during negotiations and help reduce buyer remorse.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the Greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com.

LUXURY HOME SALES THRIVING IN GREATER SACRAMENTO

07/20/16 by Lyon Real Estate

With 177 luxury home sales in the 2nd quarter, the luxury segment is poised for another banner year across the Greater Sacramento region. This marked a 74 percent increase over 1st quarter closed sales and a 5 percent lift over very strong sales numbers posted for the same time frame last year. Luxury market data was provided by TrendGraphix Inc., a Sacramento based reporting company, and conveyed by Lyon Real Estate.

Luxury Portfolio International® recognizes home sales above $900,000 in the Greater Sacramento region as properties that map most accurately toward consumer expectations regarding luxury real estate. Approximately 2 percent of the total home sales throughout the region occurred in the luxury price range thus far in 2016. 

Although luxury inventory is currently 13 percent higher than this time last year, 206 new pending sales for the 2nd quarter were 75 percent greater than the 1st quarter and 20 percent higher than the 2nd quarter of 2015. This healthy rate of new sales provides solid evidence for an optimistic market outlook.

The average price of a closed luxury home was $1,219,000 for the 2nd quarter. This marked a 1 percent increase over the 1st quarter and a 2 percent increase compared to the same time last year. Sellers obtained 93 percent of the original list price and homes were active on the market an average of 71 days. These metrics underscore the importance of effective pricing and marketing strategies even in a very busy market.

Pat Shea, president of Lyon Real Estate, states that “even though inventory is slightly higher in the luxury space, buyer demand is growing as well. This is true especially in the $900,000 to $1,500,000 price range, where 86 percent of the luxury home sales are taking place. Home values throughout the four-county region remain strong and reflect that record sales trends will continue.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com.

HOME SALES AND PRICES STILL RISING ACROSS GREATER SACRAMENTO

07/08/16 by Lyon Real Estate

At the end of June, 4,715 homes were active and available for sale throughout the Greater Sacramento region. This marked nearly a 50 percent increase since March 1st and provided some hope for buyers dealing with multiple offer competition in most price points since the beginning of the year. This market information was provided by TrendGraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

Even though 2nd quarter closed sales were within 2 percent of the number logged during the same period in 2015, new open escrows were up 8 percent. This suggests that persistent buyer momentum will continue throughout the summer. Robust sales in the upper-end also pushed the region’s average closed sales price to $408,000 for the month of June, the highest since September of 2007.

El Dorado and Placer Counties enjoyed $499,000 and $482,000 average sales prices respectively for the month of June. El Dorado County closed 783 properties for the quarter and finished with the highest remaining inventory at 2.7 months based upon the current rate of pending sales. Placer County posted 23 percent of the region’s 7,921 closed sales for the quarter and ended with 1.9 months of remaining inventory. Yolo County logged 501 closed sales for the quarter, and held 1.4 months of inventory at month-end while maintaining a $476,000 average sales price for June.

The largest region, Sacramento County, logged 60 percent of the sales for the 2nd quarter and posted the lowest average sales price of $358,000 in June. This more favorable price point was met with the highest buyer demand, leaving the county with the lowest inventory level of 1.2 months.

“The average sales price for the entire four-county region rose 8 percent during the 2nd quarter,” says Pat Shea, president of Lyon Real Estate. “Realtor.com recently ranked the Sacramento region as #8 among the top 20 hottest real estate markets in the country. Interest rates, employment figures, and comparative affordability are keeping Sacramento a great place to buy or move-up in 2016.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com.

HEAT STAYS ON IN RESALE HOUSING MARKET

06/15/16 by Lyon Real Estate

Relentless buyer demand throughout the entire four-county Greater Sacramento region is maintaining a tight squeeze on the resale housing market. At the end of May, 4,258 homes were left active and available for sale. Even though this marked a 10 percent increase over April and the highest level since October, new open escrows jumped 13 percent, leaving a mere 1.3 months of housing stock at month-end. This market information was provided by TrendGraphix Inc., a Sacramento-based real estate reporting company, and reported by Lyon Real Estate.

Placer County, as is typical, saw the highest average list price at $723,000 and the highest average sold price at $486,000. There were 567 closed sales in Placer during the month of May. Nearly 20 percent of the available listings were in the luxury price point of $900,000 and above, yet only 5 percent of the closed sales occurred in that price range.  

Sacramento County logged 1,545 closed sales with the lowest average sales price for the region at $346,000. This more favorable price point was met with the highest buyer demand, leaving the county with the lowest inventory level of 1.1 months.

El Dorado and Yolo Counties experienced $486,000 and $482,000 average sales prices, respectively. El Dorado County closed 251 properties and had the highest remaining inventory at 2.5 months based upon the current rate of pending sales. Yolo County logged 169 closed sales for the month and had 264 homes available for sale, or 1.4 months of housing inventory, at month-end.

“The average sales price for the entire four-county region has increased month-after-month since January and reached $399,000 during May,” says Pat Shea, president of Lyon Real Estate. “That’s already an 11 percent increase year-to-date, but that momentum will taper off later in the year. Summer is always the perfect time for sellers to get their highest and best offer and 2016 will be no exception.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the Greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix Inc.’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

NEW PENDING SALES KEEP PRESSURE ON HOUSING MARKET

05/10/16 by Lyon Real Estate

Resale housing inventory for the four-county Greater Sacramento region enjoyed a much needed 15 percent jump in April. The 3,880 active and available homes for sale at month-end also marked the highest inventory level since November. This market information was provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

Buyer demand through new pending sales however, kept significant pressure on the market with 3,124 open escrows, the most for any one month in many years. This also followed strong open escrow levels for both March and April, indicating elevated closed sales will follow over the next few months. 

The entry level price range below $350,000 saw 1,597 new listings hit the market in April but was competitively matched with 1,535 homes getting under contract. This left a sparse 1,083 homes active and available, or 21 days of inventory based upon the rapid rate of sales. Anything below 4 months of inventory is typically considered a seller’s market.

The move-up market, considered by many experts to be from $350,000 to $750,000, exhibited consistent momentum as well by posting a 20 percent increase in sales over March with just an 18 percent increase in inventory. This left 1.4 months of homes available for sale based upon the rate of new pending sales.  

Inventory in the upper-end, specifically $750,000 and above, experienced two consecutive months of more than 300 new listings. Recent listing activity left a healthy 749 homes available for sale in the price range, the highest level since July of 2015. New open escrows however, reached 169 units in April, the most in any one month since spring of 2007.

“Our inventory struggle and record setting buyer demand are now creating upward pressure on all price points,” says Pat Shea, president of Lyon Real Estate. “The median sales price fluctuated between $325,000 and $335,000 for 11 straight months ending February. In March, the median jumped to $340,000 and now for April increased to $350,000. There is no doubt that our entire region is reaching new price levels but still remains almost 20 percent below the pre-recession highs of 2006.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

 

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