As we reflect on the past and look towards the future, it's fascinating to consider the journey of real estate in the greater Sacramento area over the last century. The numbers are truly remarkable - real estate has appreciated significantly, witnessing a growth of 100 times over the past 100 years. This photo found by real estate appraiser/analyst Ryan Lundquist (Sacramento Appraisal Blog), shows that in 1924 properties in Oak Park were selling around $4,000. It also shows that homes in North Sacramento were selling below $3,000. Both of these locations in Sacramento are now selling well over $400,000. A 100x appreciation for homeowners and generational owners proceeding.
This substantial appreciation can be attributed to various factors, including economic development, population growth, and the unique charm that Sacramento offers. As homeowners and future homeowners, it's essential to understand the historical context and appreciate the long-term value that real estate has provided in our community.
Looking ahead, one can't help but wonder about the potential benefits of real estate ownership in the coming century. While predicting the future is challenging, the historical trend suggests that real estate has been a solid investment over the long term. As homeowners, we may continue to see growth and opportunities for wealth creation through strategic property ownership.