Real Estate News

Zillow: Sacramento-area home values, inventory on the rise

The second-quarter 2015 median home value in Sacramento area was $339,600, up 5.8 percent year-over-year, according to Seattle-based real estate data tracker Zillow.

The area’s median far surpassed the national median of $180,100, which was up 3.3 percent over the second quarter of 2014.

For perspective, San Francisco’s median home value in the second quarter was $753,500, up 11 percent in a year. In San Jose, it was a nation-leading $894,700, up 12.4 percent.

Zillow regularly tracks the 35 largest metro markets in the nation.

Zillow’s quarterly report noted that Sacramento-area home inventory was up 16.7 percent in the second quarter compared with last year. That was the fourth-largest annual percentage increase among all metro markets.

While Sacramento’s residential real estate market has been heating up of late, Zillow said the current median home value is nearly 25 percent below the peak of $442,300 reached in December 2005.

Sacramento also saw a year-over-year increase in the median rent for houses – $1,669 a month, up 6.6 percent over the second quarter of 2014.