Sacramento Duplexes - Let’s Go Shopping
It’s been some time since we reported on the real estate market’s impact on the price of investment properties. Last time we did, we found that investment properties were generally hit harder than residential properties in terms of having bigger price drops and more inventory.
Our look at the duplex market for July shows this dramatically. This July’s average duplex in Sacramento County sold for $375,777, down 19% from last year’s average of $464,804. This July twenty-four duplexes sold in the county, roughly half the forty-seven duplexes that sold last July. The average duplex sold after eighty-three days on the market, for 92.3% of it’s asking price. At the same time last year the average sold duplex had spent 52 days on the market and sold for 98.2% of asking price.
With 690 duplexes in inventory and 372 having sold in the last year, we currently have almost two years (22.3 months) of duplex inventory to choose from. If the trends continue, we may begin to see rental properties that have something we haven’t seen much of in Sacramento County until now — positive cash flow.
