Home sale prices in 95818 ZIP code highest in county per square foot

Home sale prices in the 95818 ZIP code that includes most of Curtis Park were the most expensive per square foot in Sacramento County in the latest report by the Sacramento Association of Realtors.

The 19 homes in the area that sold in April averaged $515 per square foot for 1,367 square feet, the Realtors group reported. In addition to most of Curtis Park, the 95818 ZIP code includes parts of the Land Park, Newton Booth and Poverty Ridge neighborhoods. The median sale price in the area was $645,000.

All but one of the other top areas for price per square foot were in older city neighborhoods to the north and east of Curtis Park – Downtown, Midtown, East Sac and Oak Park/Elmhurst. The lone exception was Walnut Grove.

“The average dollar per square foot for a zip code is a function of how many homes sold in the zip code, their size and price,” explained Curtis Park Realtor Larry Easterling. “The smaller a home typically sells for a higher dollar per square foot and those numbers can vary greatly. The April 95818 sales included a 1,049-square-foot home that sold for $614.87 a square foot on the high end and a 1,261-square-foot home that sold for $366.77 on the low end.”

The sales price rankings per square foot were not the same as the overall price rankings. The top two median sale prices in the county – $918,000 in rural Wilton and $825,000 in Rancho Murieta – were for homes more than double the square footage of the average homes that sold in the 95818 ZIP code.

Also, the cheapest price per square foot – $248 in Rancho Cordova – was in a ZIP code where the median sale price in April was $580,000, far above the county median price of $489,500. The average home that sold in that Rancho Cordova ZIP code was 2,467 square feet.

“The numbers do show a strong trend of price increases as the combination of low interest rates and an influx of out-of-area buyers vie for our limited inventory,” Easterling said. “On the upside, we are not seeing the creative financing options used during the last bubble. The buyers who are buying now are fully qualified to do so.”

Of the 1,540 homes that sold in the county in April, the majority of sale prices were between $450,000 and $749,000. More than 93% of the homes were on the market less than 30 days.

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