In the news

SACRAMENTO AREA REAL ESTATE SALES DEMONSTRATES SUSTAINED STABILITY

09/12/14 by Lyon Real Estate

The month of August marked the highest volume of new open escrows - 2,585 – in any given month since May of 2013 in the four county Sacramento region.  Even though the available inventory continues to grow, six consecutive months of above average sales activity left a mere 2.4 months of homes available at the rapid rate of sales. Market information was provided by Trendgraphix and reported by Lyon Real Estate.

Closed sales did, however, drop approximately 10 percent from the previous month, leaving 2.8 months of inventory based upon that metric. “This gap is not unusual,” says Pat Shea, president of Lyon Real Estate.  “Now that we have evolved into a more normal or equity sales market, longer escrow periods with more contingent sales are common.” He added, “It is difficult to get the entire picture from just a 30 day snapshot. Often, closing numbers roll into the following month, especially when a holiday weekend is in play.”   

Shea characterized the market as demonstrating a “sustained stability” with home sales in the $400,000 to $750,000 price range enjoying a 23 percent increase and those above $750,000 a 43 percent increase over sales in the same quarter of 2013. The median price confirmed that position since it hovered in the $310,000 to $315,000 range in our region for the past 4 months.

Our growth in inventory seems to be settling in for a normal end of year pattern with only a 2 percent increase over July. “A continued and inexplicable low interest rate phenomenon coupled with a variety of available home choices continue to inspire local buyers and sellers alike,” said Shea. “Continued pressure from the red hot Bay area markets and the Downtown renaissance are also maintaining an influence over sales activity in the Greater Sacramento area.”

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SUMMER SIZZLE CONTINUES IN SACRAMENTO AREA REAL ESTATE

08/12/14 by Lyon Real Estate

New open escrows were a surprising 12 percent higher in July compared to the same month just one year ago. “Even though the first quarter started out just a little bit softer than expected, five consecutive months of above average sales should pave the way for a strong finish for the entire Sacramento market by year end,” says Pat Shea, president of Lyon Real Estate. Information provided by Trendgraphix and reported by Lyon shows a mere 2.5 months of inventory available on the market based upon the current rate of closed sales.

New open sales in the $400,000 to $750,000 price range enjoyed a 15 percent improvement over June and a remarkable 45 percent jump over July of 2013. The upper-end market, often considered $750,000 and above, remained steady by posting 99 new open sales after logging 100 last month. These back-to-back record sales months in the upper-end are the two highest in many years. Ninety-nine new escrows also represented a 45 percent increase over the same month in the summer of 2013 while inventory uncharacteristically bucked the market trend with a 6 percent drop from the prior month.

The average and median sales prices have remained stable for the past three months at $343,000 and $310,000, respectively. The average price per square foot for Sacramento, Placer, El Dorado and Yolo counties also remained steady at $183. Homes for buyers under $400,000 still remain the scarcest however, with only 1.8 months available based upon the high rate of pending sales.

 “It’s so great to see the sustained activity and excitement in our move-up and upper-end markets,” says Shea. “New found equity and so many excellent choices provided by the rise in inventory have people consistently moving toward the home of their dreams. Even in the entry level there is some relief with investors and flippers clearly exiting the market.” He concluded that “all relevant housing metrics point to sustained enthusiasm and continued momentum for the remainder of this year.”

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LUXURY HOME MARKET REMAINS ON THE MOVE IN GREATER SACRAMENTO

07/10/14 by Lyon Real Estate

(SACRAMENTO, CA) – Homes sales in the $900,000 and above price point continue to play a significant role in the final phase of the financial recovery throughout the Greater Sacramento region. Quite notably, 33 percent more closed escrows were recorded in the second quarter of 2014 compared to the same period last year. These findings were released by Trendgraphix and reported by Lyon Real Estate as part of the company’s quarterly luxury report.
“Inventory of homes in the luxury space has increased approximately 20 percent over the second quarter of 2013,” says Pat Shea, president of Lyon Real Estate. “New open escrows however, are up seven percent leaving only eight months of inventory based upon the current rate of sales.” It’s very common to be running with more than 10 months of inventory in this price range according to Shea. He added that “Placer Sacramento, Yolo and El Dorado counties combined, endured periods of 25-30 months of supply in the upper-end at the peak of the great recession.”
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JANET HUBBARD, JENEAN WILSON EARN CRP® DESIGNATION

06/16/14 by Lyon Real Estate

Sacramento, CA – (June 16, 2014) --Worldwide ERC® has announced that Janet Hubbard, Senior Inbound Referral Coordinator and Jenean Wilson, Outbound Referral Coordinator, both with Lyon Real Estate, have earned the Certified Relocation Professional (CRP®) designation.
Worldwide ERC is the workforce mobility association comprised of individuals concerned with domestic and international employee mobility.

Lyon Real Estate Appoints Cathy Harrington New Marketing Director

06/16/14 by Lyon Real Estate

(SACRAMENTO, CA) – Lyon Real Estate has appointed Cathy Harrington as its marketing director, it was announced today by Pat Shea, the company’s president and chief operating officer.
 
Ms. Harrington is a senior marketing executive with over 20 years of real estate marketing and public relations experience. Prior to joining Lyon, she was with Better Homes and Gardens Mason-McDuffie Real Estate, where she headed marketing for the company for several years. Prior to that, she held marketing positions with HomeGain.com, and Marcus & Millichap Real Estate Investment Brokerage Company.
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MAY FLOWERS BLOOM BIG FOR SACRAMENTO AREA REAL ESTATE

06/13/14 by Lyon Real Estate

(SACRAMENTO, CA) – Selling season remained in full bloom as Sacramento, Placer, Yolo and El Dorado counties logged a combined 2,769 new open escrows during the month of May. This aggressive rate of sales kept the region in a strong seller’s position even though available listings topped the 5,300 mark for the first time since December of 2011. This information was provided by Trendgraphix and reported by Pat Shea, President of Lyon Real Estate.
The median sales price closed out May at the post-recession high of $312,000 compared to a meager $185,000 at the end of 2011. “Distressed properties and investor activity were still the norm back then,” said Shea. “Approximately 85% of the current sales transactions are equity sellers looking to buy again.”

DEJA VU FOR SACRAMENTO AREA REAL ESTATE

05/14/14 by Lyon Real Estate

(SACRAMENTO, CA) – California Chrome maintains good company as home buyers in the Greater Sacramento Region continue their horse race for desirable properties. The four county area boasted its 4th straight month of significant increases in new sales figures and finished April with a remarkable 2,828. This number of sales is the highest for any one month since May, 2012.
With information provided by Trendgraphix and reported by Pat Shea, president of Lyon Real Estate, the standing inventory of 4,762 homes is approximately 40% higher than 2 years ago. The rapid rate of pending sales however, left prospective shoppers with a mere 1.7 months of supply. 

Success Needs Room to Grow at Lyon Natomas

05/08/14 by Lyon Real Estate

(NATOMAS, Calif.) – When Lyon Real Estate’s Natomas Office officially moves this Friday, it’ll only be a six-minute walk to their new office. But for agents and staff, it’ll be like moving onto a mountain top.
Lyon Natomas’ next home at 2280 Del Paso Road is a little roomier, but far more prominent — right at the intersection of Del Paso and Truxel Roads.
“Everyone in our office is thrilled. This location really will create a beacon for Lyon Real Estate in the Natomas community,” said Natomas Office Manager Susie Pierce. “This is an upgrade to a more sleek and stylish home that’s much more representative of Lyon Real Estate.”
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OPEN ESCROWS JUMP 38% IN SACRAMENTO AREA REAL ESTATE

04/14/14 by Lyon Real Estate

(SACRAMENTO, CA) – Lyon Real Estate reports that new open escrows during the month of March jumped 38% and closed sales 25% in Greater Sacramento. These numbers are compared to February 2014 and left a mere 1.6 months of inventory based upon the current rate of pending sales according to data provided by TrendGraphix.
The median price also experienced a renewed, upward trend after almost nine full months of toggling within the $270,000 and 280,000 ranges. February finished with a median of $290,000 and March $300,000. “This represents the first time the Sacramento Area median has hit $300,000 since December of 2007 and mirrors the healthy and pre-boom $299,000 posted 10 years ago in March 2004” stated Pat Shea, President of Lyon Real Estate.

Lyon Real Estate Hires New Property Manager

04/02/14 by Lyon Real Estate

(SACRAMENTO, Calif.) – Lyon Real Estate has hired Aleena Weiss as a full time, dedicated property manager.
Weiss, a graduate of California State University, Sacramento, is a licensed realtor with more than nine years’ experience as a property manager. She was previously with Realty Roundup in Elk Grove, where she managed portfolios for more than 180 properties, advancing from executive assistant to property manager.
In her new role as a property manager for Lyon Real Estate, Weiss will oversee maintenance of property rentals, fill vacancies, find workable solutions for tenants, and negotiate and enforce lease agreements.