Sacramento communities seeing positive strides in housing market in August 2012
For many potential homeowners, picking a community that features strong economic characteristics is important. Potential homebuyers may look to purchase one of the homes for sale in Sacramento that are surrounded by amenities, good schools and safe streets. During the month of August, Sacramento posted significant housing and economic gains, which could entice homebuyers to the local real estate market.
"August was the strongest month for home sales so far this year, and the strongest for an August in six years. That's really saying something given the drop in low-end sales, especially foreclosure resales. Much of the pickup in activity reflects a continuation of trends we’ve seen for months, like the unleashing of pent-up demand in move-up markets and high levels of cash and investor buying," said John Walsh, president at real estate research and analytics firm DataQuick.
Here are two communities in Sacramento that feature positive trends:
1. Sacramento ZIP code 95820. According to DataQuick, there were 61 homes sales in this ZIP code during the month of August, which was a 3.4 percent improvement from August 2011. In addition, the median price paid for a home in the area rose 44.6 percent to $107,000, or approximately $96 per square foot. While houses in the region remain relatively affordable, the local unemployment rate is higher than the national average at 12.21 percent, according to Zip Data Maps. However, this figure is down from where it was in June 2012 at 12.95 percent and a year ago at 13.75 percent.
2. Antelope ZIP code 95843. The community of Antelope posted 77 home sales in August 2012. While the 77 property closings are actually a 9.4 percent decrease for the region, real estate experts do not seem too concerned, as home prices rose during the same time. DataQuick claims that the median price paid for a home during August 2012 in this neighborhood was $180,000 - a 10.4 percent increase compared to a year earlier. In addition, more people are flocking to Antelope, which had a population growth from 36,421 in 2000 to 45,048 in 2010, according to Zip Data Maps. In addition, the community has a larger female population, with the male population only consisting of 48.5 percent.