Sentinel staff report–
In March of this year, Citrus Heights officially joined the “seven figure club,” with that month marking the first time a residential property had sold over the million-dollar mark within the city limits, according to an area appraisal expert.
Although Citrus Heights has seen several homes hit the market with a list price over $1 million before, the sale this year of a property at 6858 Mariposa Avenue for $1.05 million marks the first successful close over one million, according to Sacramento area Real Estate Appraiser Ryan Lundquist.
In an email to The Sentinel on Tuesday, the appraiser noted the property had a main dwelling, an accessory unit, and a massive workshop, “so there was a reason it sold at such a lofty price point.” A description on Redfin.com shows the property sits on 1.2-acres and features a two-bed, two-bath main home constructed in 1915, along with a newer 892-square foot secondary home and a three-car garage with a landscaped yard and rock waterfall.
Lundquist said three active residential listings over the million-dollar mark in Citrus Heights, as of July 5. Another two are just shy of that, with prices at $999,000 and $997,500.
The newest million-dollar listing in Citrus Heights which hit the market on July 2, is located on 8500 Robie Way, near Twin Oaks Avenue on the northern border of Citrus Heights. The home features a 5,600-square-foot floor plan with eight bedrooms and four bathrooms, and sits on just under half-an-acre.
Lundquist said the home is “on the larger side of homes for Citrus Heights,” noting that less than half-a-percent of all sales in town have been above 3,000 square feet. Out of 30,000 sales in Citrus Heights since 1998, he said just 113 of them were over 3,000-square-feet in size.
Lundquist, who publishes regular commentary on the regional housing market at sacramentoappraisalblog.com, said higher-priced homes have been hitting the market “due to rampant price appreciation in recent years, and owners are also testing the market to see how much they can get.”
“The price ceiling in just about every area has been challenged over the past year, and in so many locations we have simply seen new price records,” Lundquist said. He also noted two other sales nearing the million-dollar mark in the city occurred in March, with homes closing at $971,000 and $971,500.
Prior to 2022, the appraiser said the highest residential sale ever in Citrus Heights was a property in 2005 for $900,000.
So what’s the future look like for homes over the million-dollar price in Citrus Heights? Lundquist says it’ll take time to find out, although the market in general has seen a sharp slowdown over the past month.
“[W]hat happens sometimes is listings will do nothing but sit instead of sell, or they will have a series of price reductions before buyers bite,” said Lundquist, adding that each listing over the million-dollar mark will have different distinctives. “Let’s remember though, that it’s not a record unless it actually sells.”
Related: More homes on market see price drops in Citrus Heights, region
Two other homes in Citrus Heights hoping to break the $1 million mark are on Sycamore Drive, at $1,299,000, and Holly Drive, for $1,250,000. Both offerings feature large lots, with the Sycamore Drive property at five bedrooms, three bathrooms, and over 4,000 square feet.
The Holly Drive property has been on the market for about 70 days, according to the listing. The Sycamore Drive home was re-listed June 9 after first being listed in November 2020 and a price change that same month. The listing was eventually removed December of that year, records show.
Sentinel staff report--
In March of this year, Citrus Heights officially joined the "seven figure club," with that month marking the first time a residential property had sold over the million-dollar mark within the city limits, according to an area appraisal expert.
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