I define high-end homes as 2 times the market average and luxury homes as 3 times the market average. In Sacramento area the average home price is about $314,000. So a luxury home will be somewhere around $900,000. If you thought there are not too many luxury homes in Sacramento, think again.
I have looked at the three counties around Sacramento for 2017 and here is how the luxury market was last year. I have looked at homes that were $1 million and up.
Believe it or not there were 139 homes that sold in Sacramento that were at or above $1 million. The majority of the homes were in the Arden-Arcade area, 95864 zip code. The notable neighborhoods were Sierra Oaks, Sierra Oaks Vista, Mariemont, Wilhaggin, and Arden Park Vista. As a matter of fact, the most expensive home in Sacramento was at 2690 Huntington Road which is in Sierra Oaks. The most expensive home has sold for $2,775,000. If $2.77 million does not seem much, wait until you see the next county.
In placer county there were even more sales over $1 million. It had exactly 206 homes sold above that price range. The cities that won the most sales were Granite Bay, Loomis and even Auburn. But I have to say that Granite Bay has predominated the number of sales. The most expensive home that has sold in Placer County was in Granite Bay with a price of $6,950,000. This was just shy of $7 million. The property is located at 9220 Royal Crest Circle Granite Bay. It is no surprise that the home is located a mile away from the Granite Bay Golf course.
El Dorado County
El Dorado County is somehow very similar at price range and sales with Sacramento County. Last year it had 108 homes sold that were above $1 million. The majority of the homes were in El Dorado Hills, however the most expensive home was sold in Placerville. A 10+ acre property 6000+ square feet home for $2,495,000. This home is at 1780 Springvale Rd Placerville.
Congratulations to all the new homeowners especially to those that open their pocketbooks for the most expensive homes in their city. For those that are looking to buy your next luxury home feel free to reach out for a confidential consultation.
Alex Sirb is a residential real estate agent in Northern California/Sacramento area, focusing on high-end and luxury properties.
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