June Home Sales Maintain Rapid Pace
New pending sales finish the month 22% higher than June 2014
The Greater Sacramento region continued to enjoy an exceptional rate of home sales as June’s 2,758 closed escrows marked the highest monthly total since August of 2012. This information was provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.
“Market-wide, closed sales reflected a 15 percent increase over an already above average June of 2014,” says Pat Shea, president of Lyon Real Estate. “July looks very promising as well since new pending sales finished the month 22 percent higher than last year while inventory declined a notable 8 percent.”
Higher sales figures were pervasive across the entire region with Sacramento County, the area’s largest, claiming 61 percent of all closed transactions during the 2nd quarter. Placer County followed with 23 percent, El Dorado 10 percent and Yolo 6 percent of the reported closed sales.
Closed escrows below $350,000 produced 55 percent of the home sales for the 2nd quarter throughout the region. Only 39 percent of the inventory remained in that price point at June 30th or 1.4 months of supply based upon the current rate of sales.
The move-up market of $350,000 – $750,000 enjoyed a 29 percent increase in both new open escrows and closed sales compared to the second quarter of 2014. This price range enjoyed 41 percent of the region’s sales for the quarter and was left with 2.2 months of inventory at month end.
Home sales above $750,000, although representing only 4 percent of the market, were exceptionally strong during the second quarter. Closed escrows were up 39 percent and new pending sales 35 percent compared to the same period last year. Extraordinary values continue to draw confident buyers.
“Market activity remains very aggressive but also exhibits sustainability and a steady growth pattern,” says Shea. “The median price appears stable at the current $335,000. Quality listings continue to surface while new, returning and move-up buyers provide consistent demand.”
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