Granite Bay real estate market is doing extremely well compared to other greater Sacramento markets in every respect except for appreciation. The average home sold in August through the MLS listed at $938,515 and sold for 98% of list price, for an average sale price of $919,552. The median selling price was $828,000. Granite Bay homes sold for only a modest 4.2% more in August of this year than last year, but when adjusted for the smaller average square footage this year, the appreciation from August to August was 8.0% — fairly tame indeed by recent standards, but perhaps to be expected in the area’s most expensive market.

In other respects, Granite Bay’s market seems quite healthy, and defies our expectations based on other area markets. For one thing, homes were selling slightly faster this year than last, at 41 days as opposed to 44 days. Moreover, this August more units were sold rather than last: 51 units as against last year’s 45. And with 2.8 months worth of inventory built up, Granite Bay’s inventory numbers are the lowest for any area we’ve examined.

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