In The News

NEW LISTINGS OFFER SOME RELIEF FOR AREA HOME BUYERS

05/11/17 by Lyon Real Estate

The Greater Sacramento Region gratefully enjoyed its best two months of new listing inventory since August and September of last year. In March, 3,343 homes were placed on the market, followed by another 3,178 in April. The 3,175 active and available homes for sale at month end also reflected the highest standing inventory level since November. This market information was provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

Buyer demand through new pending sales however, kept significant pressure on the market with 2,850 open escrows in April. This marked the most for any one month since May of 2016. The increased pending sales data also followed a similarly strong, 2,181 open escrow count for March.  These metrics produced the third consecutive month of upward price pressure culminating with a $375,000 median price for closed escrows in April, a 7 percent increase over last year. The average sales price topped the $400,000 price point for the past two months finishing April sales at $416,000.

Entry level housing continued to evaporate as there was less than one month of inventory, 1,101 properties available throughout the region below $400,000 by month end. This is 27 percent less than April of 2016. To further the point, 1,581 new listings entered the market in that price range during April and the exact same number were placed under contract.

The move-up market, is now gravitating more toward the $400,000 to $750,000 price range due to the recently elevated median and average sales prices. There were 1,407 listings available at month end, yet only 1.3 months of supply based upon the rapid rate of new pending sales.

Inventory in the upper-end, specifically $750,000 and above, experienced two consecutive months of more than 300 new listings. This seasonal listing activity jump left a healthier 667 homes available for sale in the price range on April 30th. New open escrows however, reached 163 units in March and 184 for April. Both qualified as the highest months since spring of 2007.  

“Our protracted inventory struggle and relentless buyer demand continue to place upward pressure on all price points,” says Pat Shea, president of Lyon Real Estate. “The median sales price fluctuated between $355,000 and $359,000 for 8 straight months ending February and now has quickly risen to $375,000. Inman news recently reported that 20 percent of all San Francisco Bay area residents are looking to relocate. Locals should buy and move-up sellers should act, while favorable interest rates and relative affordability provide the opportunity.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on www.facebook.com/LyonRealEstate.

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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.

PAT SHEA NAMED TO BOARD OF LEADING REAL ESTATE COMPANIES OF THE WORLD

05/01/17 by Lyon Real Estate

Pat Shea, president of Lyon Real Estate, has been elected to serve on the board of directors for Leading Real Estate Companies of the World®. In this role, Shea joins the prestigious 13-person board to provide guidance and leadership for the global community of 550+ market-leading real estate firms, which produce over 1.2 million home sale transactions annually.

Shea has more than 20 years of real estate sales and leadership experience in the Greater Sacramento Area. He earned the "Outstanding Life Member" designation from the Sacramento Association of Realtors Masters Club while practicing as an agent. He previously enjoyed significant growth and production results through his work as Managing Director & President of Mason-McDuffie, one of the largest brokerages in California at that time. Pat was named one of the most powerful people in residential real estate in 2015 and 2016 in the Swanepoel Power 200. In 2016, he was chosen to receive the coveted Leadership Award, presented by Leading Real Estate Companies of the World®.

With members in over 60 countries, Leading Real Estate Companies of the World® exists to make the best brokerages better, with an international referral network, marketing, and technology resources, award-winning professional development programs, unique events, and connections to opportunities and people worldwide.

Joining Lyon Real Estate on the board are Chairman Joe Horning, Shorewest Realtors, Wis.; Immediate Past Chairman Pat Riley Allen Tate Company, Charlotte, N.C.; Vice Chairman Diane M. Ramirez, Halstead Real Estate, New York, N.Y.; Secretary Howard W. (Hoby) Hanna IV, Howard Hanna Real Estate Services, Cleveland, Ohio; Treasurer Rob Sibcy, Sibcy Cline, Realtors, Cincinnati, Ohio; Carol Bulman, Jack Conway & Company, Norwell, Mass.; Harold Crye, Crye-Leike Inc-Nashville, Memphis, Tenn.; Jeffrey Detwiler, Long & Foster Companies, Chantilly, Va.; Mike Pappas, The Keyes Company, Miami, Fla.; Ron Peltier, HomeServices of America, Inc., Minneapolis, Minn.; Ron Stader, CIR REALTY, Calgary, Alb. Canada; and William Watson, Jr., Watson Realty Corporation, Jacksonville, Fla.

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

About Leading Real Estate Companies of the World®

Leading Real Estate Companies of the World® (www.LeadingRE.com) is a selective global community of the highest quality independent real estate companies, with over 550 companies and 130,000 sales associates spanning six continents. Network members generate over 1.2 million transactions annually. LeadingRE exists to make its members better by connecting them to opportunities and people around the globe, supporting them with an international referral network, professional development programs, unique events and connections to people and opportunities worldwide.  

LYON REAL ESTATE AWARDS STEVE CARPENTER THE C. MIKE MESSINA AWARD

04/13/17 by Lyon Real Estate

Lyon Real Estate awarded the C. Mike Messina Award to Steve Carpenter, a realtor, and mentor from the company’s West Roseville/Rocklin office. This award is one of the most prestigious awards that Lyon gives out. The recipient of this award exemplifies the qualities of professionalism, education, and leadership. The award was given at the company’s Agent Appreciation Celebration on March 24th.

“Steve is an exemplary Realtor and is also a highly effective coach, trainer, and mentor to new agents,” said Lyon Real Estate president, Pat Shea. “He is passionate about teaching, and clearly it shows in the great results his agents generate.”

Carpenter graduated 71 mentees who produced $41 million and 117 transactions, all while producing $20 million of his own business in the last three years. 

Steve has been a Realtor since 1985; he is in the Top 10% of agents at Lyon Real Estate. Steve and his wife live in the Auburn foothills area and have two sons.

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

LYON REAL ESTATE GIVES FIRST LYON CARES AWARD TO SALLY DUNBAR

04/13/17 by Lyon Real Estate

Lyon Real Estate has awarded its first ever Lyon Cares Award for Leadership in Philanthropy to Sally Dunbar, a Broker Associate in the company’s Fair Oaks office, it was announced by Pat Shea, president of Lyon. The award was given at the company’s Agent Appreciation Celebration on March 24th.

Dunbar is responsible for building the 2nd largest team in the U.S. for both walking and fundraising for the Susan G Komen 3-Day event. The walk is held in 7 cities throughout the US, and the 3-Day walkers must walk 20 miles a day, 3 days in a row.  To qualify, they each must raise a minimum of $2,300 for the Komen Foundation. Sally’s team, Hands Up For Hooters has participated in the San Diego event for two years, and has raised a total of $377,000 towards Komen’s mission of ending death from breast cancer. In 2016, they were the largest team to walk in San Diego, with 123 registered walkers.

After walking in three previous events, Sally decided to raise more money than required. Gazing at her online registration for her next event, she thought “No huge accomplishment is ever achieved without a huge goal.” She typed in $100,000 as her goal, and hit SAVE.  Then the planning began, as Sally decided that building a team would enable her to reach that goal. Hands Up For Hooters was born.

In 2015, their first year, their team of 69 walkers raised $147,000 for the walk.  The second year, as walkers spread the word to friends and family about what a fun and rewarding experience it was, the team grew to 123 walkers, raising an amazing $230,000.

Dunbar’s passion stems from her experience as a breast cancer survivor.  “As I underwent treatment in 2005, doctors didn’t just pull treatment options out of a hat,” she said. “Their recommendations came from research drawn from the hundreds of women before me. I realized then how important the availability of research results are in fighting this disease. With Komen being the largest contributor to breast cancer issues in the world next to the US government, they are the best place to direct my efforts. Every big breakthrough in breast cancer research has been helped by a Komen grant. When the cure comes, Komen will have been a contributor. So will Hands Up For Hooters.”

Hands Up for Hooters begins training in May for the November 17-19 3-Day walk, with training walks scheduled for every weekend morning.  They are accepting donations or registration of new walkers at HandsUpForHooters.com. Their fundraising goal for 2017 is $300,000.

A residential real estate broker since 1979, Sally is in the Top 10% of agents at Lyon Real Estate. She earned her BA from UC Santa Barbara. She and her husband David live in Sacramento and have two grown daughters.

About Lyon Cares Foundation

The Lyon Cares Foundation provides time, talent, and treasure to local nonprofits that make their communities a better place. Our partner in giving is the Sacramento Region Community Foundation. In 2016, the Lyon Cares Foundation gave grants of $5,000 to 15 local non-profit organizations.

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

GREATER SACRAMENTO HOME SALES REMAIN SOLID

04/11/17 by Lyon Real Estate

GREATER SACRAMENTO HOME SALES REMAIN SOLID

New pending sales up 13 percent from March of 2016

During the month of March, 2,064 homes closed escrow throughout the Greater Sacramento region. This marked a notable 32 percent increase when compared to February and signaled a spring surge is under way. Closed sales however, still fell 10 percent short of March, 2016 according to market information provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

Momentum in the market continued to grow as 2,887 new open escrows for the month were a staggering 49 percent higher than February numbers and 13 percent higher than March of last year.  The entire first quarter actually looked quite similar to the start of 2015 and 2016 in spite of very tight inventory. The 5,298 closed sales logged for the first quarter were less than 4 percent lower and the 6,577 pending sales reported were less than 3 percent off what were almost identical first quarter postings from the prior two years.

“Sparse inventory continues to hold weary buyers hostage as multiple offers are common in most market areas and price points,” says Pat Shea, president of Lyon Real Estate. At the end of last month, 2,800 homes were active and available for sale; 20 percent fewer than March 31st of 2016 and 33 percent fewer than March 31st of 2015.

The high rate of sales and low inventory combination pushed the median sales price for the month of March to $365,000. The median hit a recent peak of $367,000 last June before softening during the fall and winter months. Other than these two months, the median had not reached this price level since August of 2007. Homes that closed escrow during the month were on the market an average of 37 days and netted 99 percent of their original list price.

Shea states that “it is clearly an amazing time for sellers to make their move with inventory in every price point historically low and their odds of selling historically high. 30-year fixed mortgage interest rates are still hovering in the 4 percent range so you can expect these trends to continue through the spring and summer home selling season.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on www.facebook.com/LyonRealEstate

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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.

GREATER SACRAMENTO NEEDS MORE HOMES TO SELL

03/13/17 by Lyon Real Estate

Potential home sellers in Greater Sacramento real estate market face a golden opportunity to make their move in 2017. Buyers are snapping up homes at a rapid pace and seeing records lows for available inventory in all price points. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

Market-wide, inventory at the end of February was down to 2,554 homes active and available for sale. This number was 20 percent lower than one year ago and 37 percent lower than February of 2015. There is currently less than one month of inventory below $350,000 across the entire region. The current move up market -- homes priced between $350,000 and $750,000 -- isn’t much better, with only 1.3 months of inventory. Homes priced above $750,000 have fluctuated between 5-7 months of stock in this hot market era but dropped to 4 months by the end of February.

The number of properties available for sale however, is only one metric in the equation. The current rate of new pending sales is the other and currently, this is significant. Below $350,000, February saw 972 new pending sales, an 11 percent increase in sales compared to January. This was a 21 percent decrease compared to February of 2016, which is clearly due to the lack of available listings. The move-up market placed 1,025 homes into escrow last month which represented a 22 percent increase compared to January and a 9 percent increase versus February, 2016.

Properties above $750,000 across the region have joined the race as last month there were 121 new pending sales. This was more than double the number posted in January and 17 percent greater than February of last year. It was also the highest count since July.

All of these factors helped push the median price for February to $356,000, the highest since November. The median rested at $330,000 last year at this time and $320,000 in February of 2015.

“You probably have heard this a number of times,” says Pat Shea, president of Lyon Real Estate, “but right now is absolutely the best time for sellers to place their homes on the market. The beauty of spring is upon us and the Greater Sacramento Real Estate market is in full bloom. You will get your highest and best contract while making your move more swiftly and easily.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on www.facebook.com/LyonRealEstate

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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.

BUSINESS AS USUAL IN GREATER SACRAMENTO HOME SALES

02/15/17 by Lyon Real Estate

The Greater Sacramento real estate market remained right on path during the month of January, as new pending sales jumped 17 percent after taking a slight dip in December. The 1,972 new escrows also marked a 4 percent increase over January of 2016 in spite of record rainfall, and indicate that another busy spring selling season is certainly on the way.

In the four-county area, 2,182 new listings hit the market last month. The high level of buyer demand however, combined with seasonally low listing activity over the past few months, kept standing inventory at its lowest level since March of 2013. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

Sacramento, Placer and Yolo Counties all ended January with less than 1.5 months of available inventory based upon the rate of sales. El Dorado County was left with 2.5 months, a very strong seller’s position by historical standards.

The region’s median price for closed sales in January rested at $340,000. This was the lowest since March of last year and continued a seasonal slide after peaking at $367,000 in June. “Sales activity in the move-up and upper-end price points typically softens over the winter months and places downward pressure on median and average sales prices. You can surely expect a rebound very soon,” states says Pat Shea, president of Lyon Real Estate.

“The best time to list your home is when inventory is historically low and buyer demand remarkably high,” said Shea. “You still want to price reasonably and prepare for excellent showing condition in order to attract your highest and best offer. The relative stability in our median price and certain influx of new inventory as spring draws near will keep the market very competitive in 2017.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on www.facebook.com/LyonRealEstate

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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.

THE LYON CARES FOUNDATION GRANTS $5,000 TO STANFORD YOUTH SOLUTIONS

02/10/17 by Lyon Real Estate

The Lyon Cares Foundation announced today that Stanford Youth Solutions is the recipient of a $5,000 grant. Based in Sacramento, Stanford Youth Solutions is a non-profit that inspires sustainable change for young people and their families by empowering them to solve serious challenges together.

Operated by Lyon Real Estate, the Lyon Cares Foundation offers time, talent, and treasure to local nonprofits that make their communities a better place. Funds are raised through escrow and payroll contributions by Lyon agents and staff in addition to Lyon’s annual Coat Drive.

“We will be placing the funds directly into our Lifeline Fund,” said Carrie Johnson, Director of Development and Marketing. “Lifeline Funds help families focus on healing by meeting their basic needs. The grant will help provide food, clothing, shelter, transportation, school supplies, or social activities such as after-school programs.”

“It gives us great pride to give this grant to an organization that is involved in assisting those in need through actively engaging in our community.” said Lyon Real Estate President Pat Shea.

Each of Lyon’s 14 offices throughout Greater Sacramento will give a $5,000 grant to an organization of their choice. Lyon’s Agent Support Center chose Stanford Youth Solutions to be the recipient of their grant.

About Lyon Cares Foundation

The Lyon Cares Foundation provides time, talent, and treasure to local nonprofits that make their communities a better place. Our partner in giving is the Sacramento Region Community Foundation.

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

RESALE HOUSING SHORTAGE IN GREATER SACRAMENTO

01/09/17 by Lyon Real Estate

A record low 2,804 homes were left active and available for sale throughout the Greater Sacramento Region on December 31st as buyers remained very busy through the holiday season. The year-end inventory figure reflected 13 percent fewer properties available compared to this time last year and a 44 percent drop since July. It also marked the lowest resale inventory level in over 20 years outside of the distressed era when foreclosures, short sales and flippers were the norm.

Buyers showed their enthusiasm throughout the region at year end, as positive local economic news continued around the job market and affordability in spite of a small bump in mortgage interest rates. Closed escrows in the 4th quarter finished 4 percent higher than an already strong 4th quarter of 2015. New open escrows were 5 percent above last year for the quarter but more importantly, 18 percent higher in December versus last year. Realtor.com, Zillow and other national forecasters have labeled Greater Sacramento as one of the hottest housing markets in the nation heading into 2017. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.

Regardless of the high volume of sales, the average sales price for the region has stabilized and averaged $394,000 for the past 6 months compared to $364,000 last year over the same time frame. This represents an approximate 9 percent increase compared to this time last year and demonstrates that all price points remain consistently active in the market.

Sacramento County continued to see the most activity, with 63 percent of the region’s sales in December and 53 percent of the remaining inventory. Placer County followed as typical, with 21 percent of the sales and 25 percent of the residual inventory. El Dorado and Yolo Counties trailed with 10 percent and 6 percent respectively of December sales as well as 15 percent and 7 percent of the remaining homes for sale. The average sales prices by county were: Sacramento $344,000, Placer $479,000, El Dorado $464,000 and Yolo $448,000.

“No seller should delay if they want to get their best offer into contract in the near future,” says Pat Shea, president of Lyon Real Estate. “Their competition is low and buyers are very eager to get a piece of the New California Dream - an excellent home value in Greater Sacramento.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2016, the company closed 7,688 transactions worth a total of $2.97 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate.

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 250 brokerages in 48 states. For more information about TrendGraphix, visit www.trendgraphix.com.

HOUSING INVENTORY TUMBLES IN GREATER SACRAMENTO

12/12/16 by Lyon Real Estate

(SACRAMENTO, CA) – The number of active and available homes for sale throughout Greater Sacramento declined a hefty 18 percent since October and currently stands 11 percent below last year at this time. Market demand, measured by the rate of new pending sales, reflected a mere 1.6 months of remaining home supply on December 1st. This market information was presented by Lyon Real Estate based upon data provided by Trendgraphix Inc., a Sacramento-based reporting company.       

A total of 2,242 resale homes went under contract as pending sales, while 2,160 were posted as sold and closed across the entire region for the month of November. Both sales categories reflect single digit decreases when compared to October figures but also exhibit a normal seasonal adjustment in buyer activity. More notable however, is that sold units were up 14 percent and new pending sales 12 percent when compared to November of 2015. 

The average home sales price of $394,000 and median sales price of $356,000 for the region in November both reflect an eight percent increase compared to this time last year. A current level of price stability is evident though, as the average sales price has toggled steadily between $393,000 and $397,000 over the previous five months.

The move-up and upper-end markets remained exceptionally active over the past three months. Specifically, the $400,000 to $750,000 price range enjoyed a 30 percent increase in closed sales and a 25 percent increase in pending sales versus last year at this time. For homes priced greater than $750,000, there was a 22 percent increase in closed units and a 44 percent increase in new open sales over the same period. 

“There is no doubt that Greater Sacramento remains one of the hottest housing markets in the country,” says Pat Shea, president of Lyon Real Estate. “Buyer demand and the rapid rate of sales show no indication that a cooling is anywhere in sight. The anticipated bump in mortgage rates may be fanning the 4th quarter flames, but rest assured that our housing market heat will remain on high for 2017.”

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for 70 years. In 2015, the company closed 7,903 transactions worth a total of $2.87 billion in sales volume. Lyon Real Estate has 945 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World®, the largest network of premier locally-branded firms, as well as LeadingRE’s Luxury Portfolio International® program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to GoLyon.com and follow us on Facebook.com/LyonRealEstate

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 200 brokerages in 40 states. For more information about TrendGraphix, visit www.trendgraphix.com.

 
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