In the news

HOMES PRICES RISING PERSISTENTLY IN THE TIGHT MARKET

07/11/17 by Lyon Real Estate

The number of new listings entering the housing market just cannot keep pace with insatiable buyer demand throughout the entire 4-county Greater Sacramento region. Standing inventory at June 30th rested at 4,014 homes active and available for sale, 15 percent below the same time last year. Meanwhile, a total of 8,708 new open escrows were posted during April, May, and June, representing a 5 percent increase over the second quarter of 2016. This market information is presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

The median price for closed escrows in the month of June hit a recent milestone of $400,000. August of 2006 was the last time the region enjoyed that number, and the market was surely moving in a different direction with the impending great recession. The four-county region was staring at an astounding 15,437 homes for sale on the market at that time.

“The elevated home values across our region have led to significant increases in owner equity. Fortunately, the financial benefits are constructed on a solid foundation of more stringent loan programs and years of record low mortgage rates,” says Pat Shea, president of Lyon Real Estate. “Stability is further strengthened by the number of cash buyers prevalent over the past several years.”

The lack of entry level housing has become a major challenge throughout the state of California, and Greater Sacramento is no longer an exception. The steady growth in our local economy and relative affordability compared to the San Francisco Bay Area continue to attract more buyers.

Houses selling at less than the recent median price of $400,000 are scarce, as the number of available properties below that figure on the market in the four-county area shows:  Sacramento 965, El Dorado 212, Placer 162 and Yolo 67. 

Shea states, “the move-up market -- homes priced between $400,000 and $750,000 -- does offer some potential with 1.5 months of available inventory based upon the current rate of sales. More choices are also available for prospective buyers in this price range, courtesy of new construction opportunities. Steady move-up activity remains absolutely mission critical for our region to offer the prospect of home ownership for first time and returning buyers in the entry-level.”  

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 2016, the company closed 7,688 transactions worth a total of $2.97 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 www.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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


THE LYON CARES FOUNDATION GRANTS $5,000 TO FAIRYTALE TOWN

06/23/17 by Lyon Real Estate

The Lyon Cares Foundation announced today that Fairytale Town is the recipient of a $5,000 grant. Fairytale Town’s mission is to promote the imagination, creativity and education of children. Their vision is to inspire, educate and strengthen communities through play.                                      

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 escrow and payroll contributions by Lyon agents and staff in addition to Lyon’s annual Golf Tournament.

“We greatly appreciate the generous support of Lyon Cares,” says Kathy Fleming, Fairytale Town’s executive director. “This grant will support our master plan, which creates new programs and playsets that spark the imagination, creativity and education of children - now and for years to come.”

“It gives us great pride to give this grant to an organization who promotes a fun and learning experience for kids,” said Lyon Real Estate president Pat Shea.

In 2017, each of Lyon’s 14 offices in addition to their headquarters office will be giving two $5,000 grants to organizations of their choice, totaling $150,000. Lyon’s Land Park/Curtis Park office chose Fairytale Town to be the recipient of their grant. 

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. In 2016, Lyon Cares gave grants totaling $80,000 to 15 organizations in the Greater Sacramento Area.

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 2016, the company closed 7,688 transactions worth a total of $2.97 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


NEW LISTINGS QUICKLY DRIVE SALES FOR HOUSING MARKET

06/14/17 by Lyon Real Estate

Voracious buyer demand throughout the entire 4-county Greater Sacramento region is maintaining a tight squeeze on the peak selling season for our housing market. At the end of May, 3,547 homes were left active and available for sale. Even though this marked a 12 percent increase over April’s standing inventory, the resale housing stock remains 17 percent below last year at this time.

The seasonal influx of new listings entering the market during May were rapidly consumed by a 25 percent month-over-month surge in open escrows. The region is now left once again with slightly more than one month of active and available homes for a steady stream of eager buyers. This market information was presented 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 $755,000 and the highest average sold price at $507,000. There were 647 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 fewer than 5 percent of the closed sales occurred in that price range. Below $900,000 the Placer market remains very tight.  

Sacramento County logged 1,618 closed sales with the lowest average sales price for the region at $383,000. Even though 2,202 new properties entered the market in May, the more favorable price point and highest buyer demand led to 2,002 new open escrows. Standing inventory for the county rested at 1,761 homes active and available at month-end.   

El Dorado and Yolo Counties experienced $520,000 and $509,000 average sales prices respectively. El Dorado County closed 252 properties and had the highest remaining inventory at 2.1 months based upon the current rate of pending sales. Yolo County logged 186 closed sales for the month and had 245 homes available for sale or 1.1 months of inventory, at month end.

The news around affordability, growth and development for Greater Sacramento continues to fuel Northern California and national media outlets,” says Pat Shea, president of Lyon Real Estate. “Even with the prospect of upward pressure on mortgage rates later this year, look for this to be a summer to remember for home sellers and buyers throughout our region.”

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 2016, the company closed 7,688 transactions worth a total of $2.97 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 www.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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


NEW LISTINGS OFFER SOME RELIEF FOR AREA HOME BUYERS

05/11/17 by Lyon Real Estate

The Greater Sacramento Region gratefully enjoyed its best two months of new listing inventory since August and September of last year. In March, 3,343 homes were placed on the market, followed by another 3,178 in April. The 3,175 active and available homes for sale at month end also reflected the highest standing 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 2,850 open escrows in April. This marked the most for any one month since May of 2016. The increased pending sales data also followed a similarly strong, 2,181 open escrow count for March.  These metrics produced the third consecutive month of upward price pressure culminating with a $375,000 median price for closed escrows in April, a 7 percent increase over last year. The average sales price topped the $400,000 price point for the past two months finishing April sales at $416,000.

Entry level housing continued to evaporate as there was less than one month of inventory, 1,101 properties available throughout the region below $400,000 by month end. This is 27 percent less than April of 2016. To further the point, 1,581 new listings entered the market in that price range during April and the exact same number were placed under contract.

The move-up market, is now gravitating more toward the $400,000 to $750,000 price range due to the recently elevated median and average sales prices. There were 1,407 listings available at month end, yet only 1.3 months of supply based upon the rapid 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. This seasonal listing activity jump left a healthier 667 homes available for sale in the price range on April 30th. New open escrows however, reached 163 units in March and 184 for April. Both qualified as the highest months since spring of 2007.  

“Our protracted inventory struggle and relentless buyer demand continue to place upward pressure on all price points,” says Pat Shea, president of Lyon Real Estate. “The median sales price fluctuated between $355,000 and $359,000 for 8 straight months ending February and now has quickly risen to $375,000. Inman news recently reported that 20 percent of all San Francisco Bay area residents are looking to relocate. Locals should buy and move-up sellers should act, while favorable interest rates and relative affordability provide the opportunity.”

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 2016, the company closed 7,688 transactions worth a total of $2.97 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 www.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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


PAT SHEA NAMED TO BOARD OF LEADING REAL ESTATE COMPANIES OF THE WORLD

05/01/17 by Lyon Real Estate

Pat Shea, president of Lyon Real Estate, has been elected to serve on the board of directors for Leading Real Estate Companies of the World®. In this role, Shea joins the prestigious 13-person board to provide guidance and leadership for the global community of 550+ market-leading real estate firms, which produce over 1.2 million home sale transactions annually.

Shea has more than 20 years of real estate sales and leadership experience in the Greater Sacramento Area. He earned the "Outstanding Life Member" designation from the Sacramento Association of Realtors Masters Club while practicing as an agent. He previously enjoyed significant growth and production results through his work as Managing Director & President of Mason-McDuffie, one of the largest brokerages in California at that time. Pat was named one of the most powerful people in residential real estate in 2015 and 2016 in the Swanepoel Power 200. In 2016, he was chosen to receive the coveted Leadership Award, presented by Leading Real Estate Companies of the World®.

With members in over 60 countries, Leading Real Estate Companies of the World® exists to make the best brokerages better, with an international referral network, marketing, and technology resources, award-winning professional development programs, unique events, and connections to opportunities and people worldwide.

Joining Lyon Real Estate on the board are Chairman Joe Horning, Shorewest Realtors, Wis.; Immediate Past Chairman Pat Riley Allen Tate Company, Charlotte, N.C.; Vice Chairman Diane M. Ramirez, Halstead Real Estate, New York, N.Y.; Secretary Howard W. (Hoby) Hanna IV, Howard Hanna Real Estate Services, Cleveland, Ohio; Treasurer Rob Sibcy, Sibcy Cline, Realtors, Cincinnati, Ohio; Carol Bulman, Jack Conway & Company, Norwell, Mass.; Harold Crye, Crye-Leike Inc-Nashville, Memphis, Tenn.; Jeffrey Detwiler, Long & Foster Companies, Chantilly, Va.; Mike Pappas, The Keyes Company, Miami, Fla.; Ron Peltier, HomeServices of America, Inc., Minneapolis, Minn.; Ron Stader, CIR REALTY, Calgary, Alb. Canada; and William Watson, Jr., Watson Realty Corporation, Jacksonville, Fla.

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 2016, the company closed 7,688 transactions worth a total of $2.97 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 Leading Real Estate Companies of the World®

Leading Real Estate Companies of the World® (www.LeadingRE.com) is a selective global community of the highest quality independent real estate companies, with over 550 companies and 130,000 sales associates spanning six continents. Network members generate over 1.2 million transactions annually. LeadingRE exists to make its members better by connecting them to opportunities and people around the globe, supporting them with an international referral network, professional development programs, unique events and connections to people and opportunities worldwide.  


LYON REAL ESTATE AWARDS STEVE CARPENTER THE C. MIKE MESSINA AWARD

04/13/17 by Lyon Real Estate

Lyon Real Estate awarded the C. Mike Messina Award to Steve Carpenter, a realtor, and mentor from the company’s West Roseville/Rocklin office. This award is one of the most prestigious awards that Lyon gives out. The recipient of this award exemplifies the qualities of professionalism, education, and leadership. The award was given at the company’s Agent Appreciation Celebration on March 24th.

“Steve is an exemplary Realtor and is also a highly effective coach, trainer, and mentor to new agents,” said Lyon Real Estate president, Pat Shea. “He is passionate about teaching, and clearly it shows in the great results his agents generate.”

Carpenter graduated 71 mentees who produced $41 million and 117 transactions, all while producing $20 million of his own business in the last three years. 

Steve has been a Realtor since 1985; he is in the Top 10% of agents at Lyon Real Estate. Steve and his wife live in the Auburn foothills area and have two sons.

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 2016, the company closed 7,688 transactions worth a total of $2.97 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


LYON REAL ESTATE GIVES FIRST LYON CARES AWARD TO SALLY DUNBAR

04/13/17 by Lyon Real Estate

Lyon Real Estate has awarded its first ever Lyon Cares Award for Leadership in Philanthropy to Sally Dunbar, a Broker Associate in the company’s Fair Oaks office, it was announced by Pat Shea, president of Lyon. The award was given at the company’s Agent Appreciation Celebration on March 24th.

Dunbar is responsible for building the 2nd largest team in the U.S. for both walking and fundraising for the Susan G Komen 3-Day event. The walk is held in 7 cities throughout the US, and the 3-Day walkers must walk 20 miles a day, 3 days in a row.  To qualify, they each must raise a minimum of $2,300 for the Komen Foundation. Sally’s team, Hands Up For Hooters has participated in the San Diego event for two years, and has raised a total of $377,000 towards Komen’s mission of ending death from breast cancer. In 2016, they were the largest team to walk in San Diego, with 123 registered walkers.

After walking in three previous events, Sally decided to raise more money than required. Gazing at her online registration for her next event, she thought “No huge accomplishment is ever achieved without a huge goal.” She typed in $100,000 as her goal, and hit SAVE.  Then the planning began, as Sally decided that building a team would enable her to reach that goal. Hands Up For Hooters was born.

In 2015, their first year, their team of 69 walkers raised $147,000 for the walk.  The second year, as walkers spread the word to friends and family about what a fun and rewarding experience it was, the team grew to 123 walkers, raising an amazing $230,000.

Dunbar’s passion stems from her experience as a breast cancer survivor.  “As I underwent treatment in 2005, doctors didn’t just pull treatment options out of a hat,” she said. “Their recommendations came from research drawn from the hundreds of women before me. I realized then how important the availability of research results are in fighting this disease. With Komen being the largest contributor to breast cancer issues in the world next to the US government, they are the best place to direct my efforts. Every big breakthrough in breast cancer research has been helped by a Komen grant. When the cure comes, Komen will have been a contributor. So will Hands Up For Hooters.”

Hands Up for Hooters begins training in May for the November 17-19 3-Day walk, with training walks scheduled for every weekend morning.  They are accepting donations or registration of new walkers at HandsUpForHooters.com. Their fundraising goal for 2017 is $300,000.

A residential real estate broker since 1979, Sally is in the Top 10% of agents at Lyon Real Estate. She earned her BA from UC Santa Barbara. She and her husband David live in Sacramento and have two grown daughters.

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. In 2016, the Lyon Cares Foundation gave grants of $5,000 to 15 local non-profit organizations.

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 2016, the company closed 7,688 transactions worth a total of $2.97 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


GREATER SACRAMENTO HOME SALES REMAIN SOLID

04/11/17 by Lyon Real Estate

GREATER SACRAMENTO HOME SALES REMAIN SOLID

New pending sales up 13 percent from March of 2016

During the month of March, 2,064 homes closed escrow throughout the Greater Sacramento region. This marked a notable 32 percent increase when compared to February and signaled a spring surge is under way. Closed sales however, still fell 10 percent short of March, 2016 according to market information provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

Momentum in the market continued to grow as 2,887 new open escrows for the month were a staggering 49 percent higher than February numbers and 13 percent higher than March of last year.  The entire first quarter actually looked quite similar to the start of 2015 and 2016 in spite of very tight inventory. The 5,298 closed sales logged for the first quarter were less than 4 percent lower and the 6,577 pending sales reported were less than 3 percent off what were almost identical first quarter postings from the prior two years.

“Sparse inventory continues to hold weary buyers hostage as multiple offers are common in most market areas and price points,” says Pat Shea, president of Lyon Real Estate. At the end of last month, 2,800 homes were active and available for sale; 20 percent fewer than March 31st of 2016 and 33 percent fewer than March 31st of 2015.

The high rate of sales and low inventory combination pushed the median sales price for the month of March to $365,000. The median hit a recent peak of $367,000 last June before softening during the fall and winter months. Other than these two months, the median had not reached this price level since August of 2007. Homes that closed escrow during the month were on the market an average of 37 days and netted 99 percent of their original list price.

Shea states that “it is clearly an amazing time for sellers to make their move with inventory in every price point historically low and their odds of selling historically high. 30-year fixed mortgage interest rates are still hovering in the 4 percent range so you can expect these trends to continue through the spring and summer home selling season.”

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 2016, the company closed 7,688 transactions worth a total of $2.97 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 www.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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


GREATER SACRAMENTO NEEDS MORE HOMES TO SELL

03/13/17 by Lyon Real Estate

Potential home sellers in Greater Sacramento real estate market face a golden opportunity to make their move in 2017. Buyers are snapping up homes at a rapid pace and seeing records lows for available inventory in all price points. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

Market-wide, inventory at the end of February was down to 2,554 homes active and available for sale. This number was 20 percent lower than one year ago and 37 percent lower than February of 2015. There is currently less than one month of inventory below $350,000 across the entire region. The current move up market -- homes priced between $350,000 and $750,000 -- isn’t much better, with only 1.3 months of inventory. Homes priced above $750,000 have fluctuated between 5-7 months of stock in this hot market era but dropped to 4 months by the end of February.

The number of properties available for sale however, is only one metric in the equation. The current rate of new pending sales is the other and currently, this is significant. Below $350,000, February saw 972 new pending sales, an 11 percent increase in sales compared to January. This was a 21 percent decrease compared to February of 2016, which is clearly due to the lack of available listings. The move-up market placed 1,025 homes into escrow last month which represented a 22 percent increase compared to January and a 9 percent increase versus February, 2016.

Properties above $750,000 across the region have joined the race as last month there were 121 new pending sales. This was more than double the number posted in January and 17 percent greater than February of last year. It was also the highest count since July.

All of these factors helped push the median price for February to $356,000, the highest since November. The median rested at $330,000 last year at this time and $320,000 in February of 2015.

“You probably have heard this a number of times,” says Pat Shea, president of Lyon Real Estate, “but right now is absolutely the best time for sellers to place their homes on the market. The beauty of spring is upon us and the Greater Sacramento Real Estate market is in full bloom. You will get your highest and best contract while making your move more swiftly and easily.”

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 2016, the company closed 7,688 transactions worth a total of $2.97 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 www.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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


BUSINESS AS USUAL IN GREATER SACRAMENTO HOME SALES

02/15/17 by Lyon Real Estate

The Greater Sacramento real estate market remained right on path during the month of January, as new pending sales jumped 17 percent after taking a slight dip in December. The 1,972 new escrows also marked a 4 percent increase over January of 2016 in spite of record rainfall, and indicate that another busy spring selling season is certainly on the way.

In the four-county area, 2,182 new listings hit the market last month. The high level of buyer demand however, combined with seasonally low listing activity over the past few months, kept standing inventory at its lowest level since March of 2013. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

Sacramento, Placer and Yolo Counties all ended January with less than 1.5 months of available inventory based upon the rate of sales. El Dorado County was left with 2.5 months, a very strong seller’s position by historical standards.

The region’s median price for closed sales in January rested at $340,000. This was the lowest since March of last year and continued a seasonal slide after peaking at $367,000 in June. “Sales activity in the move-up and upper-end price points typically softens over the winter months and places downward pressure on median and average sales prices. You can surely expect a rebound very soon,” states says Pat Shea, president of Lyon Real Estate.

“The best time to list your home is when inventory is historically low and buyer demand remarkably high,” said Shea. “You still want to price reasonably and prepare for excellent showing condition in order to attract your highest and best offer. The relative stability in our median price and certain influx of new inventory as spring draws near will keep the market very competitive in 2017.”

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 2016, the company closed 7,688 transactions worth a total of $2.97 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 www.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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.