Is a shift coming to Sacramento's red-hot real estate market?

This post was originally published on this site

The migration of Bay Area buyers seeking bigger, more affordable homes in the Sacramento region’s suburbs could shift once Gov. Gavin Newsom fully reopens the state’s economy, according to trends identified by

© KCRA real estate market trends in sacramento

“I think that when the economy fully reopens, we will see more people wanting to live in the downtown area and enjoy what downtowns have to offer, the restaurants, the bars and the nightlife,” said Daryl Fairweather, chief economist for real estate brokerage firm Redfin. “We have seen people really have a preference for single-family homes with more space, but as things open up I think there will be more demand for downtown condos where you can be closer to the action.”

Sign up for our Newsletters

Latest Redfin Monthly Market Tracker:

  • Sacramento: 72.5% of homes sold above list price last month. Nationally: 48.9%.
  • Sales prices up 23.3% from a year ago. Nationally: 22%.
  • Sales up 58.4% from a year ago. Nationally: 34%.

Large investors have reentered the housing market after sitting on the sidelines for much of the past year, which could lead to added pressure pushing prices higher, said Fairweather.


Moderna says its COVID-19 shot works in kids as young as 12, will submit data to FDA next month

Sacramento County reports low number of people getting COVID-19 after being vaccinated

Proposed charter school in Sacramento aims to pave way to careers

Gov. Newsom reflects on communities devastated by wildfire, proposes boost in firefighting tools

‘It has been a painful year’: Memorial events, marches mark one year since George Floyd’s death

READ THE FULL STORY:Is a shift coming to Sacramento’s red-hot real estate market?

CHECK OUT KCRA:Stay informed. Get the latest Modesto, Stockton and Sacramento news and weather from the KCRA news team.

Continue Reading