Are you curious about how the real estate market is doing? Let’s take a look and see how the present compares to the past, and maybe even make a prediction for the future.
A few things to keep in mind as we analyze:
- The following graphs show average sales prices in Sacramento County over a specific time period.
- The GREEN line represents the average LISTING price (what sellers were asking).
- The RED line represents the average SOLD price (what actually sold).
- What does the difference between these two lines represent?
- How do the graphs change as we “zoom out” aka look at more data?
1 Year Comparison: October 2017 to December 2018
Last December, the average sold price was $380,000 compared to $405,000 this December. Seasonally, winter is typically the slower season for real estate. Spring and Summer are usually the peak seasons. This year we peaked around May-June at $412,000.
Let’s zoom out and go five years back, so we can get more perspective:
5 Year Comparison: 2013 to 2018
Since 2013, the market has been steadily climbing. Of course there are seasonal peaks and valleys. But overall, we have seen a big increase from the high $200,000’s in 2013 to the low $400,000’s in 2018.
Side note: Do you see a pattern in the difference between the GREEN For Sale and RED Sold lines? The difference between these two lines show me how “in-tune” sellers are with the market.
Let’s keep zooming out:
10 Year Comparison: 2008 to 2018
his is where things start to get weird because of the crash. We can see the tail end of the crash in 2008, a lull in 2009-2011, and then the beginning of the climb in 2012. The average sale price dipped below the $200,000 mark during this time. We’ve come a long way since then!
The next graph is the furthest back my trend software would go:
15 Year Comparison: 2003 to 2018
Here we can see the full crash, burn, and rebirth of the real estate market. We are getting pretty close to that overall peak in 2005, but that doesn’t mean the market is going to crash and burn like before.
Wanna go back further? Read my last blog post here!
What do you think is in store for 2019? What about the next 5, 10… or 15 years? It’s hard to say right now, but you can bet that we will be right here in your inbox breaking it all down for you. We’ll check back in with another update in the Spring!
Are you thinking about selling or buying a home this year? Let’s chat more!