Real Estate News

Lyon: Sacramento home inventory down, but sales up in third quarter

A bi-level home on Armour Court, offered by Lyon Real Estate for $749,000, is pictured in June.
A bi-level home on Armour Court, offered by Lyon Real Estate for $749,000, is pictured in June.

While home inventory was down from last year, closed escrows in the Sacramento region gained in the third quarter compared with year-ago totals, according to Lyon Real Estate.

Lyon said available inventory in the quarter that ended Sept. 30 was 11 percent lower than last year, but closed escrows increased by more than 11 percent. New open escrows or pending sales were up 17 percent, which Lyon said was a likely sign of strong fourth-quarter closing numbers to come.

The median sales price for September was $326,000, about 6 percent higher than the year-ago median.

Lyon’s figures were based on data from the Sacramento-based real estate tracking firm Trendgraphix Inc.

Mark Glover: 916-321-1184, @markhglover

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