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Sentinel staff report–
As home prices continue an upward trend, another trend is also noticeable: homes on one half of Citrus Heights have consistently been selling for nearly $50,000 more than homes on the other side.
Zip code-level home sale data for May 2021 published by The Sacramento Bee last month showed home sales averaging $425,000 in the 95621 zip code, which covers the western half of the city, while the eastern side of the city in the 95610 zip code fetched a median price of $472,000 — a difference of $47,000.
The price difference between the two zip codes has followed a consistent trend over the past year, with both zip codes seeing median home sale prices increase by 23-24% compared to a year ago.
So what’s behind the difference in median home prices in Citrus Heights?
Ryan Lundquist, a certified residential appraiser who runs the Sacramento Appraisal Blog, told The Sentinel in an email that homes sold in both zip codes have been around the same age, making the year built not a factor in the price difference. Square footage differences, however, appear to play a key role.
“[S]ales in 95610 are actually larger in size by almost two hundred square feet,” Lundquist said in an email Wednesday. “In other words, sales on average are 13.9% larger in size, so it makes sense to see higher prices as buyers typically pay more for larger homes.”
Although buyers paid more overall for homes in the 95610 zip code, Lundquist said buyers interestingly tended to pay more over list price in the 95621 zip code. He said over the past few months, the average price paid over list price was $20,000 in the western side of Citrus Heights while the average paid over list was $15,500 in the eastern side.
Area real estate broker Beth Moran also noted larger homes in the 95610 zip code as a factor and said housing in the less-expensive 95621 zip code tended to have been originally built for lower income workers at McClellan Air Force Base.
She also said closer proximity to outdoor recreation like Folsom Lake is a likely factor for the 95610 zip code fetching higher prices.
See the latest home sales: Housing Market: What’s happening with home sales in Citrus Heights?
Want to share your thoughts on home prices in Citrus Heights? Submit a guest column or letter to the editor: click here.
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