The California housing market has gone from bust to boom, and Sacramento leads the nation in home value growth.
But the capital city is not the only one registering big gains, and many market experts are saying that now is the best time to purchase a home.
Realtor Doug Eatough of ZipRealty has been busy showing off a Carmichael home in a market that?s become red hot.
"Sacramento got hit really badly in this recession and is coming back rather quickly," Eatough told KCRA 3. "I?ve seen a huge increase in median prices."
In fact, the Sacramento metropolitan area leads the nation in home value gains over the past 12 months, up nearly 30 percent in the latest Zillow report, but even higher in the newest survey from ZipRealty, which shows a 42 percent gain.
The new median price is now $235,000 in Sacramento, where the percentage gain is greater than the Bay Area, which registered a 38 percent rise, with median home values now at $620,000.
Home values are up 34 percent in the city of Modesto, with a median home price of $165,500, while home values in the city of Stockton rose 31 percent, with a median price of $160,000.
And in West Sacramento, new homes under construction at Ironworks are in high demand.
"The activity is frenetic," said Marty Atkinson, the community sales manager for Ironworks.
Atkinson told KCRA 3 that all 42 remaining units will be sold out by September, at prices $50,000 higher than last year.
Source: http://feedproxy.google.com/~r/kcra/local/~3/2yLNPfGW2XU/index.html
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