In The News

BRISK SALES AND STABLE PRICES SHAPE AREA REAL ESTATE

09/10/15 by Lyon Real Estate

Greater Sacramento enjoyed yet another brisk month of exceptional home sales, while remarkably, the median price remained stable at $330,000 for the third straight month. Inventory ignored the typical end of summer increase by finishing the month of August with 5,457 active and available homes on the market. This number was 9 percent less than last year at this time. Market information was provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

 

New pending sales of 2,885 reported in August sustained what is now an extraordinary 6 month run. That number was the highest monthly count thus far in 2015 and contributed to a 16 percent summer increase in June, July and August compared to the same period last year.

 

Sold and closed escrows during the same 3 month period experienced a 14 percent increase when compared to the summer of 2014. This left the 4-county area with slightly more than two months of available housing inventory.

 

The upper-end market, $750,000 and above, saw the largest jump in inventory with a 17 percent increase over last year. New pending sales in the price point however, increased 26 percent and closed escrows increased 28 percent over June, July and August of 2014. Entry level, below $350,000 always maintains the highest demand and now has 25 percent fewer listings available compared to 2014.

 

“The tenuous nature of national and international economies is maintaining downward pressure on interest rates,” says Pat Shea, president of Lyon Real Estate. “Locally, the economy is still beaming with good news regarding revitalization, development, jobs and affordability compared to other major California markets. The steady influx of prospective buyers and new inventory coming to market should keep sales figures well above average through fall.”

 

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for more than 65 years. In 2014, the company closed 7,553 transactions worth a total of $2.61 billion in sales volume. Lyon Real Estate has 961 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon

 

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

SUMMER OF LOVE CONTINUES IN GREATER SACRAMENTO REAL ESTATE

08/11/15 by Lyon Real Estate

The summer of love for home sales in Greater Sacramento appears to be endless with five straight months of extraordinary new open escrow and closed sales figures, rocking the entire region beyond any forecaster’s expectations. 

The highest number of new pending sales (open escrows) - 3,065 - were recorded in July, which is the highest number since May of 2012, when the median sales price was at $195,000 and near the recession bottom. July’s pending sales were 26 percent higher than the same month in 2014 which at that time was regarded as very strong by historical standards. Inventory at month-end left 5,572 homes available for sale. This number was 7 percent below July of 2014 and reflected 1.8 months of remaining supply based upon the rapid rate of open escrows even though the average median is now above $330,000. This information was provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate. 

“Buyers just keep coming out of the woodwork,” says Pat Shea, president of Lyon Real Estate. “Boomerang buyers recovering from previous distress sales, new buyers from a solid job market, spillover buyers from unaffordable, San Francisco to San Jose communities, as well as locals who are thrilled with exceptional move-up values are all contributing to what for now appears to be an insatiable demand for Sacramento housing.”

“The move-up and upper-end have just exploded in the past three months,” says Shea. He noted that the $350,000 to $750,000 price point saw a 25 percent increase in closed sales and a 28 percent increase in pending sales compared to this time last year. Above $750,000 the market enjoyed a 23 percent increase in pending sales and an extraordinary 42 percent increase in closed sales over the same period. 

“CBS News, Realtor.com, Housing Wire and Forbes, among others, have recently included the Greater Sacramento Region among the hottest housing markets in the country,” continued Shea. “Amazing home values, low interest rates, a solid job market and an unprecedented cycle of re-development are drawing everyone’s attention. Even better is the news that prices are actually stable, with the median floating between $325,000 and $335,000 over the past four months.” 

About Lyon Real Estate
Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for more than 65 years. In 2014, the company closed 7,553 transactions worth a total of $2.61 billion in sales volume. Lyon Real Estate has 961 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon. 

About TrendGraphix, Inc.
TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

LUXURY HOME SALES GAIN MOMENTUM IN GREATER SACRAMENTO

07/15/15 by Lyon Real Estate

The Greater Sacramento region enjoyed 166 closed luxury sales during the second quarter of 2015. This number was a 37 percent increase over that posted for the same period just one year ago. It also marked the strongest quarterly showing for closed escrows in the luxury space since the summer of 2007, according to information provided by Trendgraphix Inc., a Sacramento based reporting company and reported by Lyon Real Estate.

Luxury Portfolio International recognizes home sales above $900,000 in the Greater Sacramento region as properties that map most accurately toward consumer expectations regarding luxury real estate. Approximately 2% of the total home sales throughout the region occurred in that price segment during the second quarter of 2015.

Inventory of active and available luxury properties at June 30th was a notable 20 percent higher than this time last year. Pat Shea, president of Lyon Real Estate, suggests that “awareness of increased sales activity in the move-up and luxury market segments is pervasive and inspiring some luxury owners to downsize, but we are seeing even more luxe-to-luxe move-ups.” He added, “spill-over buyers from the coastal areas and relentlessly low interest rates are also fanning the fire.”  

All counties participated in the vigorous sales activity in their typical allocation pattern. Placer County enjoyed 40 percent of the closed sales followed by: Sacramento with 26%, El Dorado 19% and Yolo County 15 percent.  

Ninety percent of the luxury home transactions throughout the region normally occur in the $900,000 to $1,500,000 segment. Over the past three months however, 15 percent of the pending sales and 13 percent of the closed sales were above 1.5 million dollars. Closed and pending sales above $1.5 million were both two times the sales numbers posted in the second quarter of 2014.

“Our region just enjoyed the best quarter in years and June posted a record 71 new open escrows” says Shea. “Luxury momentum is very strong and likely to continue through summer.”

 

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for more than 65 years. In 2014, the company closed 7,553 transactions worth a total of $2.61 billion in sales volume. Lyon Real Estate has 961 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon

 

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

JUNE HOME SALES MAINTAIN RAPID PACE

07/14/15 by Jennifer Urias

The Greater Sacramento region continued to enjoy an exceptional rate of home sales as June’s 2,758 closed escrows marked the highest monthly total since August of 2012. This information was provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate.

“Market-wide, closed sales reflected a 15 percent increase over an already above average June of 2014,” says Pat Shea, president of Lyon Real Estate. “July looks very promising as well since new pending sales finished the month 22 percent higher than last year while inventory declined a notable 8 percent.”

Higher sales figures were pervasive across the entire region with Sacramento County, the area’s largest, claiming 61 percent of all closed transactions during the 2nd quarter. Placer County followed with 23 percent, El Dorado 10 percent and Yolo 6 percent of the reported closed sales.

Closed escrows below $350,000 produced 55 percent of the home sales for the 2nd quarter throughout the region. Only 39 percent of the inventory remained in that price point at June 30th or 1.4 months of supply based upon the current rate of sales. 

The move-up market of $350,000 - $750,000 enjoyed a 29 percent increase in both new open escrows and closed sales compared to the second quarter of 2014. This price range enjoyed 41 percent of the region’s sales for the quarter and was left with 2.2 months of inventory at month end.

Home sales above $750,000, although representing only 4 percent of the market, were exceptionally strong during the second quarter. Closed escrows were up 39 percent and new pending sales 35 percent compared to the same period last year. Extraordinary values continue to draw confident buyers.

“Market activity remains very aggressive but also exhibits sustainability and a steady growth pattern,” says Shea. “The median price appears stable at the current $335,000. Quality listings continue to surface while new, returning and move-up buyers provide consistent demand.” 

About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for more than 65 years. In 2014, the company closed 7,553 transactions worth a total of $2.61 billion in sales volume. Lyon Real Estate has 961 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

Greater Sacramento Resale Homes Sizzle

06/11/15 by Lyon Real Estate

The resale home market in Greater Sacramento continued to sizzle through the month of May, according to information provided by Trendgraphix Inc., a Sacramento-based reporting company, and reported by Lyon Real Estate. Specifically, 8,710 new open escrows and 7,321 closed sales over the past three months represent the area’s strongest production activity since the summer of 2011.  

“The move-up and upper-end markets have joined the entry level at a record setting pace, making our region a Triple Crown winner for home sales this year,” says Pat Shea, president of Lyon Real Estate. Robust sales activity in all price points pushed May’s closed median price to $335,000. This is the highest median posted since the fall of 2007 and the tail end of non-existent lending standards.

Activity below the $350,000 price point remained frantic with 6,189 new open or pending sales logged for the past three months and inventory 20 percent less than this time last year. The move-up range, between $350,000 and $750,000, enjoyed its best quarterly run since the summer of 2006 with 3,468 new open escrows and ended the month with slightly more than two months of inventory available.

New open escrows in the upper end, often viewed as the $750,000 and above price range, logged in at 372 for the past three months, the highest volume since the summer of 2007. Notably, inventory in the upper-end and move-up markets is currently 50 percent lower than that available during the 2006 and 2007 sales comparisons.

Shea states that “all key market indicators reflect that both first-time and move-up buyers will remain very busy through the summer. The number of active and available homes in all price points is significantly lower than traditional standards and recent history. The region’s median still remains 20 percent below the market peak in the summer of 2005, even with much tighter lending standards. Home values in the Greater Sacramento Region remain exceptional and people get it.”


About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for more than 65 years. In 2014, the company closed 7,553 transactions worth a total of $2.61 billion in sales volume. Lyon Real Estate has 961 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon

 

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

RESALE HOME MARKET RED HOT IN GREATER SACRAMENTO

05/11/15 by Lyon Real Estate

Greater Sacramento home sales continued at a blistering pace in April, pushing the median price to a $321,000 average for the quarter. That figure proved to be an 8 percent jump over the same quarter just one year ago, and the region’s highest median price since August of 2005. This information was provided by Trendgraphix Inc., a Sacramento based reporting company, and conveyed by Lyon Real Estate.

 

The month of April saw 2,448 closed sales posted, leaving less than two months of inventory, indicating a still strong seller’s market. “First-time and move-up buyers in the 4-county region are leaving no price point behind,” says Pat Shea, president of Lyon Real Estate. “Below $350,000 however, the market remains in a frenzy.”

 

Below the $350,000 price point, a total of 1,776 new open or pending sales were posted during the month of April. Inventory in the price range ended the month at 1,705, leaving less than one month of supply available for buyers. Average days on the market until sale dropped to 39 and sellers received an average of 98 percent of their original list price.

 

The move-up range, between $350,000 and $750,000, experienced a 31 percent increase in closed sales and a 34 percent increase in new open escrows compared to the same quarter last year. Inventory saw a 12 percent jump over the previous year, however, the market was left with less than two months of inventory based upon the new open rate of sales.

 

In the $750,000 and above price range, 330 new open escrows were posted over the past three months. That was nearly the same amount posted over the previous six months combined. Above one million dollars, there were 37 closed sales and 40 new open escrows for the month of April.

 

Shea believes these market trends will continue. He added that: “the Greater Sacramento Region offers exceptional home values and quality of life. We just enjoyed our best million dollar home sale month since the summer of 2007. April’s 2015 median price remains 24 percent below the peak of the pre-recession boom and interest rates are still floating below 4 percent. It’s a great time to be here.”

Lyon Honors Agents in Top 1%

04/21/15 by Lyon Real Estate

Recently Lyon Real Estate recognized the Senior Executive Associates who are in the top one percent of the company's production for 2014.

Marilyn Goff from Lyon Real Estate's Cameron Park office was named Lyon's No. 1 agent, the tenth time she has received this designation. She also won the Top Listing and Top Sales Agent awards for the second year in a row. The No. 2 agent was Tom Phillips from the Sierra Oaks office and the No. 3 agent was Elizabeth A. Weintraub from the Downtown office. 

The Top 1% agents from No. 4 through No. 9 including office location were: Kim Eichorn, Davis; Kim Merrell Lamb, Davis; Iris Tran, Elk Grove; Debbie Davis, Sierra Oaks; Joey Aronson, Roseville; and Annette Hawley, Placerville.

LUXURY HOME SALES TAKE FLIGHT IN GREATER SACRAMENTO

04/16/15 by Lyon Real Estate

During the first quarter of 2015, 118 new open escrows, or pending sales, were posted for luxury homes priced $900,000 and above throughout the Greater Sacramento region.  This number marked the strongest showing by a large margin, for any 3- month period dating back to September of 2007, according to information provided by Trendgraphix Inc., a Sacramento based reporting company, and reported by Lyon Real Estate.

Real Estate Sales See Big Jump in March

04/15/15 by Lyon Real Estate

Mirroring the surge in new home buying, overall residential real estate sales hit marks in March not seen in years.

The number of new escrows in March 2015 was the most since May 2012, according to Trendgraphix. But as Pat Shea of Lyon Real Estate points out, the market was very different three years ago, as investors were doing most of the buying then, especially of the lower-priced homes.

“These are equity sales and move-up buyers,” Shea said. Home prices themselves aren’t compelling people to buy, but improving economic conditions, low interest rates and a general sense of optimism, he said. “We’re really beyond recovery and in prosperity mode.”

OPEN ESCROWS SKYROCKET ACROSS GREATER SACRAMENTO

04/10/15 by Lyon Real Estate

Home buyers in all price points hit the resale market in full force last month as a record 3,102 new open escrows were reported. “Not since May of 2012, when our median price was $200,000 and 64% of today’s $312,000, has the market been in such a shopping frenzy,” says Pat Shea, president of Lyon Real Estate. This information was provided by Trendgraphix Inc., a Sacramento based reporting company, and conveyed by Lyon Real Estate.

“New open or pending sales in March were 37% higher than the already solid 2,262 posted in February. Pending sale numbers also finished the month 22% higher than their best open month in all of 2014,” according to Shea. Closed sales of 2,151 units reflected very strong momentum as well, with a 27% increase over February. Both metrics point toward a very robust April and mark a resounding rebound from the typical seasonal slow-down. 

Homes below $300,000, regarded as the entry level price range, logged 1,347 new open escrows and left that market segment with less than one month of inventory. The move-up home market, $300,000 - $750,000, posted a resounding 45% increase in pending sales over February and finished for the quarter 20% higher than last year. The move-up market is also reflecting historically low available inventory with less than two months remaining on the shelf. 

“The upper-end, $750,000 and above, is a really big story,” says Shea. “Eighty pending sales reported in February represent a very strong showing for our region; 131 posted in March is astronomical.” First quarter pending sales in the upper-end posted a 45% increase over 2014 numbers.

“Consistently improving employment opportunities and economic enthusiasm for our community are continuing to drive a very solid resale housing market,” says Shea. “Inventory choices in the move-up, upper-end and finally new construction market should provide adequate fuel to sustain the momentum. And of course, it doesn’t hurt that interest rates remain at those May, 2012 levels as well.” 

 

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