Guest column by Klint Sheridan–
Last month a residential property on Watson Way in Citrus Heights sold for $700,000 — that’s more than twice the price of the average home sale in the city.
The property at 7619 Watson Wy. featured two houses and a “garage” with extra rooms and a family room. With a little imagination and elbow grease, there could have been three houses on the property.
Two acres of manicured land provided plenty of room to run. And a location that felt almost rural, but with Interstate 80 less than five minutes away and the Sunrise Mall less than 10 minutes away… it almost seemed too good to be true!
So what does this mean for the rest of Citrus Heights? Well, though it can be exciting to see a price like that if you’re a homeowner, and maybe a little nerve-racking if you’re an aspiring homeowner — all things considered, the property was unique and impressive, and came with a unique and impressive price tag.
From a realtor’s perspective, this single property probably won’t have that much of a ripple effect in the Citrus Heights real estate market.
Comparing last month to August last year, there are over 40% more homes on the market, taking a few extra days to sell at a 7% higher price point. This could suggest that there’s still plenty of interest in Citrus Heights homes, which is in line with the conversations I’m having with soon-to-be-homeowners.
Here’s the latest data on home sales in Citrus Heights:
In August 2018, Citrus Heights had 154 properties for sale, up from 129 in July, and 92 home sales. Those homes took 21 days, on average to sell, two more days, than July.
The average price of a home sold in August was $347k, up from $341k in July, and homes were selling for 99% of their original listing price, no change from July.
Klint Sheridan is a Sacramento-based realtor (BRE# 01995924) who focuses much of his efforts in and around Citrus Heights. He can be contacted at (916) 287-0777, or online at www.klintsheridan.com
