In the news

NEW LISTINGS OFFER SOME RELIEF FOR AREA HOME BUYERS

05/14/18 by Lyon Real Estate

The Greater Sacramento Region recently enjoyed its best two months of new listing inventory since July and August of last year. In March, 3,253 homes were placed on the market, followed by another 3,560 in April. The hot pace of new sales also persisted however, leaving only 3,577 homes active and available for sale at month-end. The inventory level reflected a 13 percent increase over April of 2017 but still remains 20 percent lower than last year’s peak in September. 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 maintained significant pressure on the market with 2,917 open escrows in April. This number was 12 percent greater than April of 2017 and marked the most for any one month since May of last year. The increased pending sales data also followed a noteworthy 2,632 open escrow count for March. These metrics produced the third consecutive month of upward price pressure on closed sales, culminating with a $460,000 average sales price for the month of April. Average sales prices over the past few months have been tracking approximately 11 percent higher than last year at this time and have not reached these levels since early 2007.

Entry level housing remains exceptionally scarce, with less than one month of inventory - 1,210 properties - available throughout the region below $400,000 by month-end. Ironically, this is 10 percent higher than last year at this time, yet 23 percent less than April of 2016. The rapid rate of sales once again made a significant impact as 1,357 homes were placed under contract in this price range during the month even though 1,510 new listings hit the market.

The move-up market has pretty much settled into the $400,000 to $750,000 price range due to recently elevated median and average sales prices. There were 1,646 listings available at month end, yet only 1.2 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 350 new listings. This seasonal listing activity jump left a healthier 721 homes available for sale in the price range on April 30th. New open escrows however, reached 208 units in March and 243 for April. Both qualified as the highest months since July of 2005.  

“Our protracted inventory struggle and relentless buyer demand continue to leverage upward pressure on all price points,” says Pat Shea, president of Lyon Real Estate. “The average sales price fluctuated between $420,000 and $437,000 for eight straight months ending February, and now has abruptly risen to $460,000. News outlets regularly report that San Francisco Bay area residents and others throughout the state are eager to relocate to Greater Sacramento. Locals should buy and move-up sellers should act, while interest rates and relative affordability provide the opportunity.”

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


LAND PARK OFFICE GIVES $5,000 GRANT TO LEUKEMIA & LYOMPHOMA SOCIETY

05/09/18 by Lyon Real Estate

The Lyon Cares Foundation announced today that Leukemia & Lymphoma Society is the recipient of a $5,000 grant. The Leukemia & Lymphoma Society (LLS) is the world's largest voluntary health organization dedicated to funding blood cancer research and providing education and patient 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 escrow and payroll contributions by Lyon agents and staff in addition to Lyon’s annual Golf Tournament.

“This grant will help us tremendously,” said Jenaye Shepherd, Executive Director. “We greatly appreciate Lyon’s support.”        

“It gives us great pride to give this grant to Leukemia & Lymphoma Society,” said Lyon Real Estate president Pat Shea. “They are doing very important work.”

In 2018, 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 office chose Leukemia & Lymphoma Society 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 2017, Lyon Cares gave grants totaling $160,000 to 32 organizations in the Greater Sacramento Area and will be giving grants totaling $150,000 in 2018.

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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


LUXURY HOME SALES ARE POPPING IN GREATER SACRAMENTO

04/16/18 by Lyon Real Estate

(SACRAMENTO, CA) – First quarter luxury home sales throughout the Greater Sacramento region popped like spring flowers, as 243 new pending sales were placed under contract. This number is nearly double that posted for the same period last year and the highest in any given quarter for over 10 years. It also followed a remarkably strong fourth quarter of 2017, defying the typical seasonal respite and affirming the momentum is real. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

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 2.5 percent of the total home sales throughout the region occurred in that price segment throughout 2017. 

Closed luxury property numbers were subsequently quite strong as well. The region enjoyed a 55 percent increase in first quarter transactions versus last year. March alone saw 72 transactions recorded, nearly double that of February and 67 percent higher than March of 2017.

“There is normally a much higher volume of inventory in the luxury space compared to the number of buyers active in the market,” says Pat Shea, president of Lyon Real Estate. “That gap however, is ratcheting down. Although inventory is up 6 percent versus last year at this time, the algebraic lift in buyer demand is keeping our market exceptionally tight. The region’s luxury sweet spot - $900,000 to $1,500,000 - is extremely fierce as more than 80 percent of the sales occurred there in the first quarter.”

Last year, Greater Sacramento witnessed a 25 percent jump in luxury homes sales compared to what is typically regarded as a solid performance in 2016, and luxury sales reached their highest peak since 2005. Shea concluded, “we are off to a very precipitous start in 2018 and this could very well be the new normal for luxury buyers and sellers in our market.”

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


GREATER SACRAMENTO HOME SALES REMAIN SOLID

04/10/18 by Lyon Real Estate

(SACRAMENTO, CA) – The Greater Sacramento region enjoyed 2,150 closed home sales during the month of March. This marked a notable 26 percent increase when compared to February and signaled a spring surge is underway. Closed sales for the entire first quarter were also up 2 percent when compared to the same period last year, 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 flourish as 2,869 new open escrows for the month were a staggering 38 percent higher than February numbers and nearly 10 percent higher than March of 2017.  New sales for the now completed, first quarter of 2018 actually looked exceptionally strong compared to recent years in spite of a protracted period of very tight inventory. The 6,865 new pending sales logged in the past 3 months were just over 9 percent higher than those posted over the same time frame last year.

“Even though inventory is up nearly 9 percent compared to last year at this time, persistent buyer demand is keeping the market very tight in most areas and price points,” says Pat Shea, president of Lyon Real Estate. At the end of last month, 3,046 homes were active and available for sale. Looking a little farther back, there are 10 percent fewer homes currently available than on March 31st of 2016 and 38 percent fewer than March 31st of 2015.

The high rate of sales and low inventory combined to push the average sales price for the month of March to $449,000 and median sales price for the month to $403,000. The average price has not seen this level since February of 2007. The median hit a recent peak not seen since August of 2006. The average sales price and median are both approximately 10 percent higher year-over-year.

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. Employment numbers and mortgage interest rates remain very favorable and San Francisco Bay Area migrations continues. You can surely expect these trends to continue through the spring and summer home-selling season.”

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


THE REGION'S HOUSING MARKET HEATS BACK UP

03/14/18 by Lyon Real Estate

(SACRAMENTO, CA) – Potential home sellers and buyers alike throughout the entire Greater Sacramento face a golden opportunity to make their moves in 2018. Buyers continue to snap up homes at a rapid pace while available inventory has improved in all price points compared to this time last year. 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 reflected 2,895 homes active and available for sale. This number was 13 percent higher than one year ago and left inventory at its highest level since November. There is currently 1.3 months of inventory below $400,000 across the entire region based upon the current rate of closed sales. The move up market -- homes priced between $400,000 and $750,000 -- isn’t much better, with only 1.8 months of inventory. Homes priced above $750,000 have rested at just over 6 months of stock over the past few months.

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 $400,000, February enjoyed 1,206 new pending sales, a 19 percent increase in sales compared to January. This also marked an 8 percent increase compared to February of 2017. The move-up market placed 908 homes into escrow last month which represented a 15 percent increase compared to January and a notable 32 percent increase versus February, 2017.

Properties above $750,000 across the region joined the race last month in a big way as 172 new pending sales were posted. This activity represented an extraordinary 41 percent increase compared to January and a 65 percent leap over February of last year. It was also the highest count for any month since August.

The average sales price across the region for the month of February was $425,000. Regardless of the recent activity, the average price has maintained relative stability as it has consistently fluctuated between $418,000 and $437,000 over the past 10 months. Over the past few months, homes have sold for approximately 98 percent of original list price in just over 40 days on the market.

“Upward pressure on mortgage interest rates and residual uncertainty regarding the impact of recent tax law changes have done nothing to diminish buyer enthusiasm for home ownership in our region,” says Pat Shea, president of Lyon Real Estate. “Right now is absolutely the best time for sellers to place their homes on the market. Consumer confidence remains exceptionally strong and Greater Sacramento offers the absolute best values in all of Northern California.”

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


LYON REAL ESTATE- AGENT SUPPORT CENTER GIVES $5,000 TO BRADSHAW ANIMAL SHELTER

03/06/18 by Lyon Real Estate

The Lyon Cares Foundation announced today that Bradshaw Animal Shelter is the recipient of a $5,000 grant. Bradshaw Animal Shelter’s mission is to provide public safety and protect the health and welfare of animals in our communities through education, responsibility, and compassion.

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 will be using the grant through Teaching Everyone Animals Matter (TEAM), our 501C3 non-profit affiliate to help the ill and injured animals that come to our shelter,” said Dave Dickinson, Director of Sacramento County Municipal Services. “This grant will help animals that need extra medical care before being deemed adoptable.”           

“It gives us great pride to give this grant to Bradshaw Animal Shelter,” said Lyon Real Estate president Pat Shea. “They are doing very important work.”

In 2018, 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 Agent Support Center chose Bradshaw Animal Shelter 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 2017, Lyon Cares gave grants totaling $160,000 to 32 organizations in the Greater Sacramento Area and will be giving grants totaling $150,000 in 2018.

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 BACK ON TRACK

02/12/18 by Lyon Real Estate

The Greater Sacramento real estate market bounced back during the month of January as new pending sales jumped 24 percent when compared to December figures. The new sales reported also reflect a 20 percent increase over those posted in January of 2017, confirming the market will resume a hot pace. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

Fortunately, 2,494 new listings arrived on the market in January across the four-county area. This marked a 10 percent increase over January of last year but still left the region with a paltry 1.4 months of available inventory based upon current buyer demand.

The region’s average price for closed sales in January rested at $419,000, 10 percent higher than one year ago. This was the lowest however, since April of last year, but does reflect a typical seasonal adjustment. “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 Pat Shea, president of Lyon Real Estate.

The entry level - properties below $400,000 - remains the most competitive space with 4 percent fewer properties in standing inventory compared to last January. The rate of new sales month after month are nearly equal to the number of new listings entering the market. “This condition is a huge burden for first time buyers and also presents market wide risk, as move-up activity is crucial to the housing eco-system,” says Shea. The condominium market, another staple for first time buyers, was left with only 154 units on the market on January 31st, down 24 percent from last year.

“The best time to place your home on the market is when inventory is seasonally low and buyer demand remarkably high,” Shea adds. “You still want to price reasonably, prepare for excellent showing condition, and select a very good agent in order to negotiate your highest and best contract. The relative stability in our prices and certain influx of new inventory as spring draws near will keep the market very competitive throughout all of 2018.”

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


LUXURY HOME SALES CHURNING IN GREATER SACRAMENTO

01/22/18 by Lyon Real Estate

Greater Sacramento continued a multi-year trend of substantial growth in Luxury Home Sales throughout 2017 with 729 closed transactions. The year-end total marked a 25 percent jump over a solid performance in 2016 and reached the highest mark since 2005. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

During the fourth quarter alone, 219 closed luxury home sales were posted throughout the region. This figure marked an extraordinary 62 percent increase over the same period last year and signaled that momentum for upper-end transactions was likely to continue moving into 2018.

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 2.5 percent of the total home sales throughout the region occurred in the luxury space throughout 2017.  Nearly 90 percent of the 2017 luxury transactions however, took place in the $900,000 to $1,500,000 price range and only 218 properties were left on the market in that bracket at year-end.

Luxury homes that closed during the fourth quarter were on the market an average of 85 days from their original list date and received nearly 94 percent of their original list price. The average sales price for the quarter was $1,222,000, down less than 1 percent compared to the same period last year. The average price per square foot came in at $303 for properties that closed escrow during the fourth quarter.

Annualized luxury home transactions throughout the region followed a very typical pattern as Placer County recorded 39 percent of the sales in calendar year 2017, followed by: Sacramento County with 29 percent, El Dorado County 21 percent and Yolo County 11 percent. There was approximately 5 months of inventory available on December 31st based upon the current rate of closed sales. This is widely considered a balanced market when considering both buyer and seller interests.

Pat Shea, president of Lyon Real Estate, states that “the local economic climate and our amazing luxury home values continue to inspire move-up buyers within our region. Migration from nearby communities in the San Francisco to San Jose corridor will persist. The impending federal income tax changes should not affect Greater Sacramento in quite the same manner as our coastal neighbors. Luxury home buyers and sellers entertaining a move in 2018 should capitalize while inventory, mortgage rates and intrinsic property values remain well in their favor.”  

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


RESALE HOUSING LANDS GENTLY AT YEAR END

01/16/18 by Lyon Real Estate

Greater Sacramento enjoyed yet another banner year of feverish activity but did close out 2017 in a very predictable manner. Inventory slipped to 2,810 homes left active and available on the market, nearly identical to last year at this time.  Sold and closed sales reported for the month were down a notable 9 percent compared to December of 2016 however, the combined fourth quarter totals were only 3 percent shy of last year’s mark.

New buyers maintained their enthusiasm throughout the region at year end, as positive local economic news continues around the job market, and mortgage interest rates that hover near 4 percent aid affordability. New open escrows during the 4th quarter were 6 percent greater than 2016 and for December alone, 12 percent higher year over year. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

The average sales price for homes sold climbed steadily in the first half of 2017 and hit a recent high of $437,000 in June. Upward pressure softened slightly thereafter with the average price consistently toggling between $428,000 and $432,000 over the last 6 months of the year. These figures reflect an approximate 9 percent increase in average sales price year-over-year.

Uncertainty around potential federal income tax changes failed to deter buyers in the move-up and upper-end markets during the 4th quarter. Closed sales in the $400,000 to $750,000 price range were up 18 percent and new open escrows up 31 percent year-over-year. Closed sales above $750,000 increased 44 percent and new opens 34 percent within the same time frame.

“Real estate markets are hyperlocal and Greater Sacramento remains hyperactive in all price points,” says Pat Shea, president of Lyon Real Estate. “Organic growth from local buyers and increased migration from the San Francisco Bay area, East Bay and San Jose will continue. Inventory challenges, especially in the entry level, are the new normal. There is every reason to expect however, that 2018 will see a repeat of the sales patterns we’ve observed over the past few years. Prices and interest rates will continue to inch up, so make your move soon.”

About Lyon Real Estate

Ranked the number one brokerage in annual home sales in the greater Sacramento region by the Sacramento Business Journal, Lyon Real Estate has served the area for over 70 years. In 2017, the company closed 7,333 transactions worth a total of $3 billion in sales volume. Lyon Real Estate has 950 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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.


INVENTORY SLIPS BUT DOESN'T STALL LOCAL HOUSING SALES

12/12/17 by Lyon Real Estate

The number of active and available homes for sale throughout Greater Sacramento declined a hefty 15 percent since October yet currently stands 2 percent above last year at this time. Market demand, measured by the rate of new pending sales, reflected a mere 1.6 months of remaining home supply on December 1st. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.       

A total of 2,310 resale homes went under contract as pending sales, while 2,159 were posted as sold and closed across the entire region for the month of November. Both sales categories reflect significant decreases when compared to October figures but also exhibit a normal seasonal adjustment in buyer activity. There is reason to expect a strong conclusion to 2017, however, as the new pending sales reported for the month were 13 percent higher than November of 2016.  

The average home sales price of $436,000 and median sales price of $390,000 for the region in November both reflect a 10 percent increase compared to this time last year. A current level of price stability is evident though, as the average sales price has toggled steadily between $431,000 and $437,000 over the previous six months. Greater Sacramento remains 10 percent below its highest average sales price record for a given month set in June of 2006 at $472,000.

The move-up and upper-end markets remained exceptionally active over the past three months. Specifically, the $400,000 to $750,000 price range enjoyed an 18 percent increase in closed sales and a 29 percent increase in pending sales versus last year at this time. For homes priced greater than $750,000, there was a 42 percent increase in closed units and a 35 percent increase in new open sales over the same period. 

“There is no doubt that Greater Sacramento remains one of the hottest housing markets in the country,” says Pat Shea, president of Lyon Real Estate. “Buyer demand and the rapid rate of sales show no indication that a cooling is anywhere in sight. The anticipated bump in mortgage rates and prospective income tax changes in 2018 may be fanning the 4th quarter flames. Rest assured however, that our housing market heat will remain on high for the foreseeable 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 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.