Real Estate News

Lyon: Sacramento-area resale home market continues hot pace

The resale home market in the Sacramento area continued to gain steam in the three-month period ending May 31, according to Lyon Real Estate.

Lyon reported 8,710 new open escrows and 7,321 closed sales over the three-month period, the area’s strongest showing since the summer of 2011.

Lyon’s report was based on data compiled by the Sacramento-based real estate tracking firm Trendgraphix Inc.

“The move-up and upper-end markets have joined the entry level at a record-setting pace,” Pat Shea, Lyon’s president, said in a statement.

Robust sales activity in all prices pushed May’s closed median price to $335,000, which Lyon said was the highest since the fall of 2007.