Sacramento Area Real Estate Market: Cameron Park
In November, Cameron Park sellers registered a huge windfall in appreciation over the last year. Last November, homes in Cameron Park sold through the MLS for an with the average price of $204 per square foot. This November, the average was $254 price per square foot, a 24.6% increase!
The average home sold in Cameron Park in November for $524,641, or 99.4% of the average list price of $527,963. The median sale price in November was $475,000.
Still, at the same time that Cameron Park is a “late bloomer” locally in terms of great appreciation, the area is typical of greater Sacramento in experiencing slowing unit volume, longer selling times, and a greater number of expired listings. The expired to sold ratio has gone up from 20% last year to 65% this year. (Another way to look at that is that for roughly every three listings that sell, two listings expire).
Some other key indicators of a changing market include longer time on market, which in Cameron Park’s case went up from 40 days on average last year to 57 this year, and lower unit sold volume (30 units last year versus 23 this year). Inventory in Cameron Park is currently at 7 months.
