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By Mike Hazlip—
Despite the housing market cooling off in recent months as interest rates sharply rise, one local realtor is confident his latest listing will break a sale price record in Citrus Heights with an asking price over $1 million.
Realtor Ben Bondaruk told The Sentinel in a phone call Tuesday he has seen a lot of interest in the home at 8047 Holly Dr., despite the record-setting price tag. Bondaruk said he has two to three showings for the home each day.
The million-and-a-quarter price tag includes a 2,235-square-foot main house with four bedrooms and three bathrooms, along with another detached 1,196-square-foot guest house with three bedrooms and two bathrooms. The lot size is about one acre, according to a listing on on the real estate website, Trulia.com.
Additionally, the property features a two car garage, and a 680-square foot shot with 12-foot-high doors. The secondary dwelling also is powered by solar.
The property was built in 2020 and has been on the market for six days, according to the listing.
Real Estate Appraiser Ryan Lundquist told The Sentinel in an email that a million-dollar sale “has been a barrier that has never been broken in Citrus Heights until now.”
With one additional property pending at $1,049,000, Lundquist says the “million dollar club” will have more than one member in Citrus Heights if both properties close above the $1 million mark.
“This barrier speaks to how far prices have risen in the region, but it’s also about the type of product buyers are looking for,” Lundquist said.
Potential buyers are typically families who are looking for a property that offers space for one or more relatives, according to Bondaruk.
Lundquist says rising interest rates have had a cooling effect on the market, but the market is still competitive.
“For a while buyers were sprinting to the market to get in before rates rose, and it created an incredibly aggressive and frantic market during the beginning of the year,” Lundquist said. “But it seems now we are starting to really see the effect of higher rates where buyers just aren’t running at the same pace.”
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