Market Update – Sacramento
Home sale in Sacramento rose in April and this momentum is likely to carry into the whole year, with more buyers expected to enter the market as historically low-interest rates and cratering supply continue to drive demand.
Home Sales
There wee 1,654 sales in April:
- 50.9%s increase compared to April 2020. Sellers’ market surged as demand was strongly higher than supply. Total Dollar Value has also increased by 88.1% compared to last year.
Listings
There were 2,042 new listings in April:
- 27.8% increase compared to April 2020.
Both the listings nad sales activity have increased, resulting in an upward trend in prices.
- The median price for single-family homes was $489,500: a 22.4% increase compared to last year.
- The median price for condos was $289,000: an 18.4% increase compared to last year.