Forecast for the Sacramento Real Estate Market in the Second Half of 2024

The forecast for the Sacramento real estate market in the second half of 2024 is based on the analysis of the provided data. Here are some key insights and projections:

Median Sales Price

The median sales price in Sacramento is expected to continue to rise in the second half of 2024, with some zip codes seeing significant increases. The top 5 zip codes with the highest median sales prices are:

1. 95837: $2,195,000

2. 95830: $1,081,000

3. 95819: $785,000

4. 95818: $782,500

5. 95864: $775,000

Change in Median Close Price

The change in median close price over April 2024 ranges from -0.2877 to 0.6246, with a mean of 0.045. The top 5 zip codes with the highest positive change are:

1. 95814: 62.46%

2. 95811: 24.19%

3. 95831: 32.77%

4. 95821: 8.19%

5. 95820: 0.24%

Total Sales

The total sales in Sacramento are expected to increase in the second half of 2024, with some zip codes seeing significant increases. The top 5 zip codes with the highest total sales are:

1. 95757: 62

2. 95630: 75

3. 95835: 44

4. 95823: 39

5. 95822: 36

Average Price per Square Foot

The average price per square foot in Sacramento is expected to continue to rise in the second half of 2024, with some zip codes seeing significant increases. The top 5 zip codes with the highest average price per square foot are:

1. 95837: $641.63

2. 95830: $422.43

3. 95819: $592.05

4. 95818: $537.90

5. 95817: $480.70

Conclusion

The Sacramento real estate market is expected to continue to grow in the second half of 2024, with rising median sales prices, increasing total sales, and growing average prices per square foot. However, the market may experience some fluctuations due to various economic and demographic factors.

FAQs:

1. Q: What is the current median sales price in the Sacramento housing market?
   A: The current median sales price in the Sacramento housing market varies by zip code, but the overall median sales price is around $602,205.

2. Q: Which zip codes in Sacramento have the highest median sales prices?
   A: The top 5 zip codes with the highest median sales prices in Sacramento are 

1. 95837 

2. 95830 

3. 95819 

4. 95818 

5. 95864

3. Q: What is the forecast for the Sacramento real estate market in the second half of 2024?
   A: The forecast for the Sacramento real estate market in the second half of 2024 is expected to continue to grow, with rising median sales prices, increasing total sales, and growing average prices per square foot.

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