Sacramento home prices have reportedly increased 13% according to recent reports. However, given the climate of California's growing demand, this should come as no surprise to mortgage and real estate professionals.
"Of the neighborhoods that had 10 or more resale home sales, 57 areas saw increases in the median sales price compared to the same month in 2017," according to National Mortgage News.
"Only six saw declines, according to new data from CoreLogic."
The median sales price for a home in Sacramento is still light-years behind compared to home prices in cities like San Francisco. The 13% increase has brought the average home price to $357,000.
"Sacramento County's 95864 ZIP code had the largest year-over-year increase," according to NMN.
"The median resale home sale price in that area — southeastern Arden Arcade — rose to $637,500 in 2018, an increase of 82% from $350,000 in April 2017."
Home prices have been increasing across the country though areas with high demand, strong economies and low inventory are seeing the biggest spikes.
To learn more about Sacramento's 13% increase in home prices over the past year, click on the image above.