Downtown Sacramento Real Estate Market
The real estate market Sacramento’s downtown area (95814, 95816) is performing similiarly to other markets we’ve examined in most respects. Surprisingly, however, days on market actually looks better this year than last, with September’s average days on market at 31 days compared to September, 2004′s average of 33 days.
Since inventory downtown is a mix of condos and classic older homes built in the 1910s, 20s, and 40s, the average home in the downtown area is smaller than in other markets. September’s average was 1347 square feet, listed for an average of $509,819 and sold for 96.7% of list, or $493,078.
Appreciation from September 2004 to September 2005 was 15.3%, or, adjusted for slightly smaller homes sold this year, 12.2%.
Eighteen units sold in September, and there were 80 units available for sale as of October 11, comprising 4.4 months of inventory.
