Friday, December 4, 2020

Median Home Price in Vancouver higher than Sacramento, CA

According to real estate giant, Zillow, the Median home price for Sacramento, CA was $378k as of December 1, 2020. They show Vancouver, WA at $385k. Sacramento County, CA stands at $417k compared to Clark County, WA at $412k. 

It should be noted that Sacramento is well under the California statewide median which is $599k. But Vancouver is also lower than the Washington statewide median of $451k. Clark County has been a great opportunity for homeowners with median prices climbing faster than most of California which may be why cities like Sacramento are now less expensive for homes than we are. 

There are a number of reasons this has happened and median pricing is not always directly translated across states or even large regions. But Sacramento used to be notably more expensive than Vancouver and now they are a tad less. All of this shows that demand for real estate in SW Washington continues to be strong and people will continue to seek an opportunity to own rather than rent. It also could mean fewer Californians will move here. Most of the people living in the Central Valley areas in California can't afford to move here.

This is why I worked so hard to help people buy homes back in 2010-2012. Many buyers were nervous, having just witnessed a severe market downturn. Prices were depressed from the rotten economy and everyone of the dozens of people I sold homes to, made a fortune when things turned around. Even in the last couple of years with higher prices the market has provided equity gains for home buyers.

Real estate continues to be a very important part of the American dream.

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