In the fourth quarter of 2015, 116 luxury home sales were posted throughout the Greater Sacramento region, which marked a 52 percent increase over the same period last year. This continued a 2015 run of upper-end transaction volume the area has not experienced in eight years. This information was provided by Trendgraphix Inc., a Sacramento based reporting company, and reported by Lyon Real Estate.
Luxury Portfolio International recognizes home sales above $900,000 in the Greater Sacramento region as properties that map most accurately toward consumer expectations regarding luxury real estate. Approximately two percent of the total home sales throughout the region occurred in that price segment throughout 2015.
Luxury homes that closed during the fourth quarter were on the market for an average of 78 days and received nearly 94 percent of their original list price. The average price per square foot was $279.
Closed, luxury home escrows throughout the entire year followed a very typical pattern as Placer County recorded 181 of the annual sales, followed by: Sacramento 139, El Dorado 98 and Yolo County 73. A full 87 percent of the luxury home sales for the year occurred in the $900,000 to $1,500,000 price range.
Coincidentally, inventory in January 2016 is trending the same when compared to January of 2015 as 272 luxury properties remain active and available for sale throughout the 4-county region. Sales momentum however is expected to be much stronger as new pending sales posted for the 4th quarter were a phenomenal 77 percent above the same period last year. December alone logged 44 new pending sales compared to just 15 in December of 2014.
Pat Shea, president of Lyon Real Estate, states that “we are currently enjoying the best housing market in Sacramento history. You can expect a repeat performance in 2016.”
About Lyon Real Estate
Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon.
About TrendGraphix, Inc.
TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com