In the news

HOME SALES, INVENTORY AND PRICES CONTINUE TO SPRING CLIMB

05/13/19 by Lyon Real Estate

The Greater Sacramento Region continued a familiar pattern of rising inventory and increased sales after an unusually slow start to the new year. Active and available homes for sale increased 14 percent in the month of April versus March and now stand 10 percent higher than last year at this time. Entry-level homes below $400,000, did not fare quite as well with current inventory 12 percent below that of April 30, 2018. This market information is presented by Lyon Real Estate through information provided by Trendgraphix Inc., a Sacramento based reporting company.

Buyer demand through new pending sales did maintain significant pressure on the market as 2,924 open escrows were reported in April. This number was 10 percent greater than April of last year and marked the most for any one month since May of 2017. The increased pending sales data also followed a noteworthy, 2,438 open escrow count for March. These metrics helped influence the third consecutive month of upward price pressure on closed sales culminating with a $467,000 average sales price for April. Average sales prices over the past few months are currently tracking approximately 3 percent higher than last year at this time and have now reached a level last seen in September of 2007.

Entry-level housing remains exceptionally scarce as there were merely 1,057 properties available throughout the region below $400,000 by month end. The rapid rate of new sales once again made a significant impact as 1,241 homes were placed under contract in April. These figures left the price range with less than 1 month of supply as buyer demand continues to meet or beat the number of new listings entering the market.

The move-up market, or $400,000 to $750,000 price range, enjoys a little more breathing room with 11 percent more homes presently available compared to April of 2018. New open escrows reported for the month, however, were 25 percent higher than March and 16 percent greater than last April. There remain 1.3 months of supply based upon inventory and the rate of new sales.

Inventory in the upper-end, specifically $750,000 and above, showed 861 properties on the market at month end. Homes available in this price range are already nearing peak periods reached during the summer of last year. There is a silver lining though, as a remarkable 261 new open escrows were posted in the price range last month. This marks a 31 percent jump versus March, a 24 percent increase compared to April of 2018 and also the highest number reached since July of 2005.

“Regional and national media outlets regularly report that San Francisco Bay area residents and others throughout the state continue to seek the affordability and excellent home values found throughout the Greater Sacramento market,” says Pat Shea, president of Lyon Real Estate.

“Positive consumer confidence, solid employment numbers, and very favorable mortgage interest rates are keeping locals in the game as well. It certainly remains a fabulous time to buy or move-up in 2019.”

About Lyon Real Estate

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento (Sacramento Business Journal). We are proud to be homegrown, locally owned and internationally known. Lyon has served the area for over 70 years. In 2018, the company closed 6,411 transactions worth a total of $2.9 billion in sales volume. Lyon Real Estate has over 900 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 HOMES SALES ARE STILL THE RAGE

04/17/19 by Lyon Real Estate

 

Last year, Greater Sacramento continued a multi-year trend of algebraic growth in Luxury Home Sales with 970 closed transactions. Now once again, first quarter sales throughout the Greater Sacramento region flourished as 228 new pending sales were placed under contract. This number slightly surpassed those posted for the same period in 2018 which already boasted the highest in any given quarter for over 10 years.

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 3.5 percent of the total home sales throughout the region occurred in the luxury space throughout 2018. Nearly 85 percent of luxury transactions across the Greater Sacramento region appear in the $900,000 to $1,500,000 price range.

First quarter, closed luxury property sales actually signaled the potential to surpass last year’s annual total as recordings were up 8 percent year over year. The better start in 2019 is largely due to much stronger December open escrow activity when compared to the previous year. The average sales price for the quarter rested at $1,230,000, just 1 percent higher than last year. The market is currently considered to be “balanced” with approximately 5 months of supply available for the current rate of sales. All market information presented by Lyon Real Estate is based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

 “Luxury home buyers and sellers throughout Greater Sacramento were clearly undeterred by national economic uncertainty and record setting rainfall throughout the first quarter of 2019,”

says Pat Shea, president of Lyon Real Estate. “Inventory increased by 17 percent versus last year and buyers thoroughly enjoyed the choices and values presented in the market. Early April returns reflect that spring weather has further fueled momentum and all market metrics point to another exciting year in the luxury space.”

About Lyon Real Estate

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento (Sacramento Business Journal). We are proud to be home grown, locally owned and internationally known. Lyon has served the area for over 70 years. In 2018, the company closed 6,411 transactions worth a total of $2.9 billion in sales volume. Lyon Real Estate has over 900 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.


SPRING BLOOM HITS GREATER SACRAMENTO HOUSING MARKET

04/16/19 by Lyon Real Estate

  SPRING BLOOM HITS GREATER SACRAMENTO HOUSING MARKET

The average sales price in March reaches $459,000, the highest since last summer

(SACRAMENTO, CA) – The Greater Sacramento region enjoyed 2,053 closed home sales during the month of March. This marked a notable 29 percent increase when compared to February and signaled that a typical spring rebound is currently under way. Total closed sales for the entire first quarter fell off 10 percent when compared to the same period last year but did recover quite swiftly after an abnormally slow start in January.

Momentum in the market continued to surge as 2,618 new open escrows for the month were an encouraging 32 percent higher than February numbers and finished nearly even with the robust sales reported in March of 2018.  New open escrows for the now completed, first quarter of 2019 were down 4 percent versus last year but actually track quite well with all other years of the extended, growth market cycle.  This market information was provided by Trendgraphix Inc., a Sacramento-based reporting company and presented by Lyon Real Estate.

“Even though standing inventory is up nearly 8 percent compared to last year at this time, it does not tell the entire story,” says Pat Shea, president of Lyon Real Estate. “New listings entering the market were down 14 percent in the first quarter compared to 2018 and when adding the resurgence of buyer demand, the market was left with merely 1.5 months of supply on March 31st. These combined metrics are keeping the market very tight in most areas and price points.”

The high rate of sales and low inventory combination pushed the average sales price for the month of March to $459,000 and median sales price for the month to $410,000. Both reached their highest points after months of receding from peaks reached last summer. The average number of days on the market for homes that closed escrow in March dropped to 47 with sellers receiving an average of 99 percent of list price.

Shea states that “winter clearly brought a market pause due to economic uncertainty from trade and tariff news, interest rate noise and remarkably heavy, seasonal rain fall. Buyers however have returned with a vengeance as positive employment numbers, a new drop in mortgage interest rates and migration from the San Francisco Bay Area continues. You can surely expect these hot sales trends to continue straight through the spring and summer home selling season.”

About Lyon Real Estate

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento (Sacramento Business Journal). We are proud to be home grown, locally owned and internationally known. Lyon has served the area for over 70 years. In 2018, the company closed 6,411 transactions worth a total of $2.9 billion in sales volume. Lyon Real Estate has over 900 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 WINS MULTIPLE AWARDS AT LEADING RE GLOBAL REAL ESTATE EVENT

03/27/19 by Lyon Real Estate

Sacramento, CA – Lyon Real Estate won ___ awards at the Leading Real Estate Companies of the World® annual Symposium this month. Leading Real Estate Companies of the World® (LeadingRE) is a global community of more than 565 high quality independent real estate firms. 

Lyon Real Estate was nominated for a number of awards this year, and won for highest achievement in three key categories: The Crown of Excellence and the Award of Excellence for the highest achievement in referral performance, and the Pinnacle for the highest outgoing broker-to-broker closed referrals throughout the network. Here is a list of the awards:

Lyon RE won the Sapphire Award, which was presented for the first time this year.  One of the most prestigious awards presented, the Sapphire Award recognizes the top member firm in each category, based on company size, in recognition of outstanding contributions a broad range of LeadingRE programs.

LyonRE won the Crown of Excellence based on superior results in sending and servicing clients referred through the network. This prestigious award is presented to the member firm with the highest achievement in various referral performance metrics within their company-size category. 

Lyon RE won the Award of Excellence for Equivalent Closing Sales Production. This award recognizes the companies with the highest per agent average of outgoing equivalent closings within their company-size category, based on sales value exceeding the network’s average sales price.

LyonRE won the Pinnacle Award in recognition of being one of the top companies in the Leading Real Estate Companies of the World® network in 2018 for the highest outgoing broker-to-broker closed referrals throughout the network. 

LyonRE won the Global Alliance - Most Outgoing Closings Award, which recognizes the member with the most outgoing closed referrals resulting from client introductions made across country borders.

LyonREwon the Million Dollar Club - Most Outgoing Closings Award, which is presented to the affiliate with the most outgoing closed referrals with an actual sales price of $1 million or greater.    

2018 Mentor Program  Janet Hubbard - Smart start is a year-long experience designed to train the relocation staff at companies that are new to the LeadingRE network and involve a series of phone training and coaching sessions.  (I wasn't recognized at the ceremony, and received an apology this morning)

“We are thrilled to be acknowledged not only for top sales and referrals, but for the excellent service our sales associates are providing to their clients,” said Pat Shea, president, Lyon Real Estate. “To earn distinction among the top global firms in the world is a true honor.”   

Lyon Real Estate is the Sacramento representative of Leading Real Estate Companies of the World® (www.LeadingRE.com), the largest network of premier locally-branded firms in more than 50 countries producing over one million annual home sale transactions. As a member of LeadingRE, Lyon provides a quality real estate experience, global marketing reach and access to top real estate professionals in any market.

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Sacramento -- Lyon Real Estate, the largest independent real estate company in Greater Sacramento won eight awards at the Leading Real Estate Companies of the World® Annual Symposium this month. Most notably, the brokerage won the organization’s awards for Best Visual Design of a website and Best Overall Website, with 565 independent brokerages around the world having the opportunity to submit their sites for the award.

Additionally, the brokerage took home two first place awards, one in Luxury Marketing for its newly designed luxury seller guide, yard signs, and agent print ads, and one in the Company Brand and Property Advertising category for it’s “We Get You” consumer ad campaign.

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


HOUSING MARKET DECLINE GREATLY EXAGGERATED

03/13/19 by Brittany Gomez

   HOUSING MARKET DECLINE GREATLY EXAGGERATED
New pending sales jump 21% versus January

(SACRAMENTO, CA) – Potential home sellers and buyers alike are seeing a swift return to the “new normal” all throughout the Greater Sacramento region’s housing market. Buyers are back to snapping up homes at a rapid pace as 2,158 homes were placed under contract during the month of February. That number reflected a sizable 21 percent increase versus January and a notable 5 percent lift from a busy February of 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 rested at 2,895 homes active and available for sale. Although the supply level marked a 6 percent drop from January, it did reveal an 11 percent increase versus one year ago at this time. Based upon the renewed rate of buyer activity however, there is currently a mere 1.5 months of inventory available on the market.

Further analysis of new open escrows and supply by price range revealed some additional color. Entry level homes below $400,000 are currently left with approximately 1 month of supply remaining.  The move up market -- homes priced between $400,000 and $750,000 -- isn’t much better, with only 1.6 months of inventory. New open escrows for homes priced above $750,000 have also increased notably over the past few months leaving just 3.6 months of supply. Accordingly, all price points are largely considered to be in very tight market conditions.

Even though closed sales improved 8 percent versus January, they remained 12 percent off from February of 2018. This data heavily reflects the dramatic fall off in new open escrows reported during December and January compared to the same period in the prior year. Closed sales will surely rise significantly in the coming months due to the elevated rate of new open escrows.

The average sales price across the region for the month of February rested at $445,000, precisely matching the market-wide average for the past 6 months.  Homes that closed escrow over the past two months averaged approximately 97 percent of original list price and 55 days on the market.

“The decline of the Greater Sacramento resale housing market has been greatly exaggerated,” says Pat Shea, president of Lyon Real Estate. “Trade war commotion, wild stock market fluctuations, upward interest rate pressure, tax considerations and general market fatigue all likely contributed to sales tapering off at the end of 2018.  He added, “rock solid employment numbers, favorable mortgage programs and rates, excellent values in our housing stock and strong overall consumer confidence in Northern California means home sales will once again be exceptionally strong in Greater Sacramento throughout all of 2019.”

About Lyon Real Estate

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento (Sacramento Business Journal). We are proud to be home grown, locally owned and internationally known. Lyon has served the area for over 70 years. In 2018, the company closed 6,411 transactions worth a total of $2.9 billion in sales volume. Lyon Real Estate has over 900 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 GOES OUT WITH A WHIMPER AT YEAR-END

01/11/19 by Lyon Real Estate

(SACRAMENTO, CA) – Greater Sacramento home sales started strong in 2018 with four straight months of increased closed sales compared to the same period in 2017. The numbers began to steadily soften mid-year and finally went out with a whimper, with fourth quarter closed units falling 15 percent short of the prior year. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

The number of new listings entering the market in the latter part of the year remained steady while sales quietly declined. This resulted in 3,632 homes left active and available on the market on December 31st, nearly 30 percent higher than last year at this time. “Trade war commotion, wild stock market fluctuations, mid-term elections, interest rate movements, tax considerations and general market fatigue all likely contributed to sales tapering off at year-end,” says Pat Shea, president of Lyon Real Estate.

The average sales price for homes throughout the region continued a multi-year climb in the first half of 2018 and hit a new market high of $474,000 in May. Subsequently, a relaxing of that metric ensued with the fourth quarter average much closer to $450,000. That number however, still reflected a 6 percent increase in the fourth quarter average sales price year-over-year.

Shea expects a very similar sales pattern once again in 2019. “Continued job growth and upward pressure on employee compensation appear to remain in play for the foreseeable future in Northern California. Mortgage interest rates are still toggling between 4 - 4.5%, regardless of potentially adverse news on the national economic front and from the Federal Reserve. From a long view historical perspective, mortgage rates remain incredibly favorable.”

Shea also considers the increase in housing inventory a good thing. “It was way too scarce for far too long,” he added. “Buyers have jobs, money, financing and choices. The current 2.5 to 3 months of standing inventory is still widely considered a seller's market. One can reasonably expect appreciation to fall into the 4 – 6% range once again this year.” 

“Study after study suggests that a sizable number of people are highly interested in migrating from the San Francisco Bay area toward Sacramento and for a variety of reasons,” Shea said. “Those with equity elsewhere can sell and find tremendous home values in our region. They can often place residual equity in additional investments for a more secure retirement. Many others are seeking employment in Sacramento or are willing to commute, tele-commute, etc. to have an opportunity for home ownership. Population growth will continue throughout the Greater Sacramento region and housing will be challenged to keep up, consequently prices will continue to rise. We recommend that people buy or move-up while affordability remains.”

About Lyon Real Estate

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento (Sacramento Business Journal). We are proud to be home grown, locally owned and internationally known. Lyon has served the area for over 70 years. In 2018, the company closed 6,411 transactions worth a total of $2.9 billion in sales volume. Lyon Real Estate has over 900 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 DROPS AND HOME SALES DIP

12/13/18 by Lyon Real Estate

(SACRAMENTO, CA) – The number of active and available homes for sale throughout Greater Sacramento declined a typical 11 percent since October yet currently remains a substantial 26 percent above last year at this time. Market demand however, measured by the rate of new pending sales, still reflected a modest 2.4 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 1,962 resale homes went under contract as pending sales, while 1,890 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 and dropped 6 percent and 17 percent respectively versus last year at this time. According to Pat Shea, president of Lyon Real Estate, “the re-sale market is certainly tracking to normal seasonal adjustments but is falling notably short of the over achieving fourth quarters of the past two years.

The average home sale price of $446,000 and median sales price of $400,000 for the region in November both reflect slightly more than a 2 percent increase compared to this time last year. A consistent pattern of price stability is further evident, as the average sales price has ticked down steadily over the past six months after reaching a high of $474,000 in June. The previous high for the Greater Sacramento region was struck in June of 2006 at $472,000.

Most price points experienced the same combination of higher inventory with softer, new open escrow and closed sale figures. Homes priced greater than $750,000 however, enjoyed an 18 percent increase in new open escrows versus October and a 34 percent increase in new opens versus November of 2017.

“Stock market volatility and mortgage interest rate fluctuations have likely caused some buyers to tap the brakes for a bit,” says Shea. “Add that to normal seasonality and the gap in year over year, local housing metrics gains some attention. A slower but steady winter is likely, followed by another very busy spring selling season. There is no doubt that Greater Sacramento remains one of the hottest housing markets in the country.”

About Lyon Real Estate

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento (Sacramento Business Journal). We are proud to be home grown, locally owned and internationally known. Lyon 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.

 


DAVIS OFFICE GIVES $5,000 GRANT TO FOURTH AND HOPE

11/14/18 by Lyon Real Estate

The Lyon Cares Foundation announced today that Fourth and Hope is the recipient of a $5,000 grant. Their mission is to feed, clothe, shelter, and facilitates recovery to those in need and to show the love of Jesus Christ in words and actions.

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 are very pleased and thankful for the tremendous support of our mission by Lyon Real Estate,” said Fourth and Hope Executive Director Doug Zeck. “This grant will go a long way in helping those in our community without access to basic needs like food, restrooms, showers and laundry services.”

“It gives us great pride to give this grant to Fourth and Hope,” 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 Davis office chose Fourth and Hope 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

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento. We are proud to be home grown, locally owned and internationally known. Lyon 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 AREA HOME SALES BOUNCE BACK

11/13/18 by Lyon Real Estate

(SACRAMENTO, CA) – During the month of October, 2,371 resale homes were placed under contract across the Greater Sacramento region. That figure reflected a 17 percent increase over an unusually soft September and only a 4 percent fall off from the red hot, October of 2017. “Buyer behavior suggests that they are not quite ready to take a break for the holiday season,” says Pat Shea, president of Lyon Real Estate. “Employment numbers are strong, consumer confidence is solid, interest rates are still very favorable and Greater Sacramento remains affordable.”

Closed sales for the month however, were down four percent compared to September and nearly 11 percent versus October of 2017. This was both logical and expected due to the low, new open escrow count posted in September. 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 dropped four percent since September but still ended the month 20 percent higher than October of last year. Shea believes this is a good thing as “persistent buyers will have more opportunities and choices.” He stated that “based upon the current rate of sales, the region has a mere 2.5 months of available supply. A balanced market is largely viewed to have 4 to 6 months of supply, thus more inventory is better.”

The $750,000 and above price point remained remarkably busy over the past 3 months, as 491 properties were posted as sold and closed transactions. This reflected nearly a 10 percent lift versus the same period last year.  New open escrows in upper-end were up 10 percent versus September but identical at 153 to October of 2017. Inventory remains below 6 months of supply which is considered quite low in Greater Sacramento for this price range.

The average closed sales price for October was $451,000 and the closed median price $400,000. Both reflected that prices are still relaxing and perhaps stabilizing after reaching highs of $466,000 and $420,000 respectively, in June.  “Why wait until prices and mortgage rates start rising again? Anyone considering buying, moving up, downsizing or changing locations should think about it right now,” says Shea. “One can never be certain of what changes the New Year may bring.”  

About Lyon Real Estate

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento (Sacramento Business Journal). We are proud to be home grown, locally owned and internationally known. Lyon 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.

 

FOLSOM OFFICE GIVES $5,000 TO SACRAMENTO SPCA

10/15/18 by Lyon Real Estate

The Lyon Cares Foundation announced today that Sacramento SPCA is the recipient of a $5,000 grant. Sacramento SPCA is dedicated to fostering a loving and compassionate community for animals and people by providing assistance, creating lifelong relationships, and saving lives.

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 generous grant will provide food and medical care for animals that are waiting to find their new home – an apt gift from a business that helps people find homes,” said Sacramento SPCA CEO Kenn Altine.

“It gives us great pride to give this grant to Sacramento SPCA,” 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 Folsom office chose Sacramento SPCA 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

Lyon Real Estate is the leading independent real estate brokerage company in Greater Sacramento. We are proud to be home grown, locally owned and internationally known. Lyon 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