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Sacramento housing and rental prices rising amid national inflation trends

Sacramento County's median sales price is at $510,000, an increase of 15.6% from October 2020, according to the Sacramento Association of Realtors.

SACRAMENTO, Calif. — As inflation ushers in higher prices of gas, food and other necessities across the country, Sacramento area home and rental costs are also rising. 

According to the Sacramento Association of Realtors, the median home sales price in the county increased to nearly $510,000 in October, about a 15.6% rise from October 2020, where the price was $439,950.

At an open house in Sacramento's East Tahoe Park neighborhood, Waste Route Manager Keith Filson said the three-bedroom, one-and-a-half-bath home was just the kind of place he was looking for with his wife. 

"We basically want a simple house — it's just the wife and [me] — and we want a dog," Filson said. 

But the home, listed at $409,000, has already received multiple offers, and Filson said he knows he would likely need to offer well above the asking price. 

"Houses are selling really quickly. Immediately," said Realtor Pierce Plam. "We put this one on the market maybe four days ago. We got an offer the very first day, a few hours after it hit the market," he said.

For now, Filson said he will continue renting. But rental prices are also on the rise. 

According to the November 2021 Sacramento Rent Report from Apartment List, Sacramento rents increased 14.4% compared with the same time last year. 

"A couple of decades ago, we’d be doing a lot better situation with our current careers," Filson said. "It’s just the state of the world right now I guess."


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