This luxury Folsom Lake home breaks sales record as one of priciest in Sacramento region
When Realtor Angela Dameri listed a 12,000-square-foot Sacramento area home with unobstructed views of Folsom Lake, she fielded calls from people all over the world and showed the home to potential buyers from Mexico, Southern California, Hawaii and the Bay Area.
The buyer ended up being a businessman from Folsom, just 14 miles away.
He plucked down $7 million for the 10-acre El Dorado Hills estate, making the transaction the second-highest residential sale ever in the four-county Sacramento region.
The deal also broke the sales record for the town of El Dorado Hills, according to Dameri of Berkshire Hathaway HomeServices NorCal.
“This is the second highest sale ever in the Sacramento region, though it’s a three-way tie at $7 million,” housing market expert and Sacramento appraiser Ryan Lundquist said.
The incredible compound built and owned by former Gymboree CEO Matt McCauley and his wife, Marina, closed just $500,000 under the asking price of $7.5 million. The priciest home sold in the Sacramento region remains an $8.25 million Loomis property that sold earlier this year.
“These units all sold after 2021, so this has been new territory for the region,” Lundquist said. “When looking at all sales in the market, we are missing over 30% from the pre-2020 normal since so many sellers and buyers have been sitting back, but above $2 million has seen robust volume that is almost exactly what it was in 2021.”
Home is a ‘rarity’
He noted that the price point for these high-end homes represents less than 1% of all sales in the region, “so we have to keep things in context that 99% of the market is not at this level,” Lundquist added.
In the Sacramento area, a $7 million home remains a “rarity,” Lundquist noted. “But there is no mistaking we’ve been seeing more higher-priced deals coming together as an appetite for luxury real estate has been growing.”
The median price for a home in the four-county region — Sacramento, Placer, El Dorado and Yolo counties — stands at $589,000, according to Lundquist; that’s nearly three hundred thousand less than the median for California ($869,000), according to Redfin.
Dameri, who represented both buyer and seller, also painted a picture of a robust luxury home market above the $3 million or $3.5 million price point.
“There’s a threshold,” she said. “I just sold another property in Serrano Estates for $3 million that set a record for price per square foot.”
For McCauley’s estate at 100 Rock Lane in El Dorado Hills, the rare, unobstructed views of Folsom Lake alone might have been worth the hefty price tag. A jaw-dropping infinity pool is the apex of the property’s amenities, giving the impression that you could swim over the edge into Folsom Lake.
But the luxury compound offers much more than that for the money: The list of unparalleled features, sophisticated touches and exquisite details is long. There’s scraped white oak wood floors, an open gourmet kitchen with a back kitchen for food prep, floor-to-ceiling stone fireplaces, huge disappearing walls of glass, 24-foot ceilings, a Dolby-sound home theater with a bar, a sizable indoor gym, a large game room and a private spa area with an oversized sauna, steam shower and massage table.
Every room has a lake view
Every room opens to the outside and offers lake views. The home also presents clear views of the downtown Sacramento skyline.
The 10-acre grounds comprise meticulously landscaped lawns and gardens, tennis and pickleball court, a fire pit and outdoor fireplace, solar field, gas station, walking trails, a barn and chicken coop, a vineyard and a luxury guest house.
The buyer, who has a family with three young children, discovered the property through a Sacramento Bee article, Dameri said. He owns two acres with lake views nearby, but purchasing the finished estate seemed to be a better choice than building on his own land.
“To build on their property would have taken probably another three or four years, and it probably would have cost about six or seven million (dollars),” Dameri said. “So, they saw this home and they’re like, ‘Oh my gosh,’ and came to see it.”
The estate is perhaps the crown jewel in a triumvirate of luxury real estate communities in the region: Loomis, Granite Bay and El Dorado Hills.
When it comes to homes commanding at least $4 million since 2021, 41% of properties have been sold in Loomis, 21% in Granite Bay and 14% in El Dorado Hills, according to Lundquist.
Sacramento County has seen 10% of the homes sold above $4 million.
This story was originally published December 9, 2024 at 12:47 PM.
