It’s something that has drastically changed. It’s something that is new to the people that search for homes. Sacramento can no longer be viewed as the valley town that it was some years ago. It’s now a modern city. Further evidence of this claim is that authors have reported that the capital region of the city has the 13th highest share of expensive homes in the country. The prices for these houses is counted in terms of millions. The evidence collected was published after a thorough study. Lending Tree Company got the opportunity to analyze the value of these houses in the 50 most extensive areas in June. The firm later ranked them in percentages of seven digits homes in the largest market. The firm was surprised to find a west coast tilt.
The leading cities nationally, according to the study, are San Jose and its neighbor San Francisco. The next in the list was Los Angeles, New York, San Diego and then Seattle. Sacramento was ranked behind Portland and Austin. A local estate analyst said that the results were quite predictable and that it was not a surprise for him that Sacramento was highly ranked. He repeatedly ranked California as a magical state. He said that the list was all a California affair. Dean Wehrli admitted that there is something special about the coastal state. Six-figure homes nationally are still extremely uncommon. Sacramento is not a coastal destination. However, it was highly ranked because it is a leading destination for Bay Area immigrants.
With those few remarks, there are no multimillion dollar houses around every corner in the City of Sacramento. It’s a relief that that has not yet happened. According to Lending Tree, only 1.7% of all Sacramento homes are worth more than a million dollars. This was nowhere the percentages of the Bay Area. In San Jose, 54 % of all the homes are more than $1 dollars. In San Francisco, 44% of the homes are worth more than a million dollars. New York grabbed the fourth position with only 12% of the homes having being built with more than a million dollars. A real-estate agent in Sacramento noted that it might be useful to view the Sacramento percentage in a reverse perspective. She said that 98.3% of the homes are not multi-million dollars. However, the multi-million homes are going to increase, but they are not yet dominant in the real estate market.