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This Citrus Heights home sold for over $600k, a sale price once unheard of

Citrus Heights, Home sale
A home on the 7300 block of Cross Drive recently sold for over $600,000. // Bethany Reeves

Bethany Reeves contributed to this story–
Home sale prices in Citrus Heights don’t usually tick over the half-million dollar mark. But that’s been changing.

Recently, a home on Cross Drive sold for $625,000, making it one of the most expensive single-family home sales in Citrus Heights in 2018.

The gated property at 7342 Cross Drive rests on a third-of-an-acre lot and is part of a quiet suburban neighborhood off Oak Avenue, with a 15-mile-per-hour posted speed limit. Built in 2006, the home features a 4,202-square-feet floor plan, with a total of six bedrooms and 4.5 bathrooms, with two full master suites.

The buyer declined to comment for this story, but Greg Poulos of Residential Brokerage, who listed and sold the home, said it fetched a higher price due to it being significantly larger in size than the average home in Citrus Heights. He also said home prices in general are on the rise.

Citing recent housing data, the Granite Bay-based realtor said housing prices in Citrus Heights have seen a 7.4% rise since July 2017, and a total 20% rise since July 2016. Prices per square foot also increased by 10% in the last month alone, from roughly $200 to $220 per square foot.

From 2016: Here’s the most expensive home sold this year in Citrus Heights

By contrast, in 2016, the most expensive single-family home sale in the city was a 3,466-square-feet home on Wachtel Way that sold for $556,000 — about twice the average selling price of homes in Citrus Heights that year. The home was built in 1985 and featured five bedrooms, four full bathrooms, an attached 1,000-square-feet garage, a pool, and rested on two acres of land.

According to the most recent data from Trulia, which tracks real estate and housing trends, the average home sale price in Citrus Heights is currently around $330,000 — just under the peak average of $349,000 in 2005. Home prices began to drop in 2006, with a steep decline in 2007-08. Average home sale prices hit a rock bottom of $140,000 in Citrus Heights in mid-2011, but have steadily increased year by year.

Depending on the area of Citrus Heights, $330,000 now buys a home owner about 1,500 square feet of living space, with 3-4 bedrooms and two bathrooms.

Currently, Trulia shows 14 homes are listed above the half-million dollar mark in Citrus Heights. The most expensive listing is a 2,600-square-foot five bedroom, three bathroom home listed at $695,000, located just off Antelope Road on Orange Drive.

Related:  New projects will likely bring hundreds of new homes, units to Citrus Heights

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