As you can see, when looking at all sales from 2006, property values have clearly declined over time. When you consider the lower end of the market was hovering around $250,000 in mid-2006, but is now closer to $100,000, the drop in property value is pretty substantial. There is big difference for the upper end too.

But at least the past three years have shown a bit more stability, right? That’s encouraging news for home owners (I know real estate data can feel dysmal at times). Overall the trend below over the past three years appears to show a decline,  but the blue dots representing sales sure do look a whole lot more horizontal over the past couple years. 

For historical reference, below are two graphs of all sales in Citrus Heights between 1997-2010 based on the 95610 and 95621 zip codes. The blue line represents monthly median price figures for the respective zip code, whereas the red line shows the market-wide median price (Sacramento Area). These historic graphs come from the Sacramento Association of Realtors.

Specific Citrus Heights Real Estate Market Data:

• 217 sales over the past 90 days.
• 171 current active listings
• 108 current active short sale listings
• 84 current short sale contingent listings (this means an offer has been submitted already)
• 39.5% of all sales over the past year were REO (bank-owned)
• 25% of all sales over the past year were Short Sales
• Roughly 65% of all sales were distressed in some regard (REO or SS)
• Unemployment in Citrus Heights is 9.0% per EDD (as of 11/2010)
• Unemployment in Sacramento County is 12.8% per EDD (as of 11/2010)

Keep us posted if you have any questions or if you think you might have a need for property tax assistance. We are here to help you. Call 916.595.3735, email us, or fill out the contact form and we’ll look up your property for free.

It’s always interesting to me to take a look at a market-wide graphs to try and make sense of what property values have done over a specified time period. When looking at data like this, I ask questions like: What is the lower end of the market doing? Have there been any changes in the upper end? What does the overall trend look like? Declining? Stabilizing after a decline? Increasing? What types of circumstances may have triggered a change in the overall price levels during various times over the past three years? New laws or regulations? Unemployment? Loan rates adjusting? Economic factors? Zoning?

All graphs below are based on information from Sacramento Metrolist between 08/28/2006 to 08/27/2009. The points on the graphs represent single family residential detached units.

Number of Sales in the Past 3 Years:

• Folsom:  2,183
• El Dorado Hills:  1,665
• Rancho Cordova:  1,732
• Citrus Heights:  2,374

What do you see? What does it look like the market has done in the areas below? Does anything stand out to you or surprise you? What do you notice about the higher end of the market on all of the graphs?

Folsom Real  Estate Market Trends: 

 El Dorado Hills Real Estate Market Trends

Rancho Cordova Real Estate Market Trends:

Citrus Heights Real Estate Market Trends:

City-wide data is important to look at because what is happening in the overall city can sometimes have an impact on smaller niches and portions of housing within the same city. This is not always true, but it’s relevant to at least be aware of what is happening in the overall market so that we can more readily decipher a city’s sub-markets.

On the other hand, one of the glaring downfalls of city-wide data is that information is too general to really draw neighborhood-specific conclusions from. As we all know, each city or area typically has a host of different types of neighborhoods, and these pockets of real estate can vary drastically from each other in terms of buyer perception, price range, and many other factors. For example, Rancho Cordova has two main zip codes and the 95742 zip code (Anatolia) is far different from most of the 95670 zip code (everything else). Or properties near Old Town Folsom may have weathered the market differently than those in Empire Ranch. Or Governor’s Village and Serrano in El Dorado Hills may show differing market trends because of location, square footage, year built, or some other factor.

With all that being said, I am very curious to hear your observations and insight about the city-wide trend graphs above. Feel free to comment above (just below the post title)  or email info@SacramentoTaxAppeals.com. If you are considering the worth of your property and that it may be relevant for you to dispute your property taxes, please give us a call. The first step is to talk about your possibilities and if it looks like it makes good economic sense for you to appeal your property taxes (the answer is definitely not always “yes”). Let’s talk soon (916-595-3735). 

http://www.SacramentoTaxAppeals.com Real Estate Market Trends: Past 36 Months of Sales in Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights (August 2006 – August 2009)