The Next Generation of Homebuyers Is HereMany members of Generation Z (Gen Z) are aging into adulthood and deciding whether to rent or buy a home. If you find yourself in this group, itâ€
Sacramento Market Overview Through October 31
Dated: December 6 2018
The median home value in Sacramento is $319,500. Sacramento home values have gone up 5.6% over the past year and Zillow predicts they will rise 3.9% within the next year. The median list price per square foot in Sacramento is $223, which is lower than theSacramento--Roseville--Arden-Arcade Metro average of $240. The median price of homes currently listed in Sacramento is $319,000 while the median price of homes that sold is $303,700. The median rent price in Sacramento is $1,750, which is lower than the Sacramento--Roseville--Arden-Arcade Metro median of $1,895.
Foreclosures will be a factor impacting home values in the next several years. In Sacramento 0.8 homes are foreclosed (per 10,000). This is greater than the Sacramento--Roseville--Arden-Arcade Metro value of 0.4 and also lower than the national value of 1.2
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Sacramento is 0.7%, which is lower than the national value of 1.1%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Sacramento homeowners underwater on their mortgage is 5.6%, which is higher than Sacramento--Roseville--Arden-Arcade Metro at 4.7%.
3.9% 1-yr forecast (Oct 31, 2019)
$319,000 Median listing price
$303,700 Median sale price
Neighborhoods in Sacramento
|North Oak Park||$324,900|
|Tahoe Park South||$323,100|