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Luxury Home Prices in Sacramento Continue to Spike

 
Luxury Home Prices in Sacramento Continue to Spike
Posted Wednesday, February 12th 2014 @ 6am

Sacramento's real estate market is evening out, except when it comes to luxury homes.

Overall home prices spiked over much of 2013, and analysts expect them to rise another 5 percent to 7 percent this year.

That's for your average place -- a middle class family or first-time owner -- homes at a higher price point follow behind a bit, and they're doing that now.

"The Bay Area market's just gone crazy," said James O'Brien, the ReMax President in Northern California.

"What we've seen, is first, the lead be from the Bay Area and then movement to this direction," O'Brien said. 

He says some buyers are getting priced out and they're looking here. January's luxury home prices were up 17 percent from a year before.

Sales in Tahoe are also rebounding.

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