Monday, June 6, 2016

Neighborhood Profile: Sierra Oaks in Sacramento

Sierra Oaks at a glance:
From University Avenue to Scrips Drive and Rio del Ora Lane to Latham Drive, perhaps no other neighborhood in Sacramento offers as much privacy and exclusivity as Sierra Oaks, while at the same time being in the midst of fine amenities and conveniences, and such an easy drive to the Sacramento grid.

Sierra Oaks is clearly a clearly defined neighborhood encompassing only .393 square miles, stretching between Watt Avenue to the east and Howe Avenue to the north, and Fair Oaks Boulevard to the south and bordering the American River to the north. Including parts of the 95825 and 95864 zip codes, Sierra Oaks does have a significant population of 5,542 residents with a population density of 13,287 people per square mile, a huge increase from Sacramento’s 4.937 people per square mile. The residents of Sierra Oaks also tend to be more distinguished and established than in other neighborhoods, with a median age of 50.0 years, compared to Sacramento’s 33.0-year median.

Luxury real estate in Sierra Oaks:
Sierra Oaks only has 1,250 single-family homes within its confines, reinforcing its reputation as offering some of the most desirable and highest-quality real estate in all of Sacramento. Home styles vary from ranches from yesteryear, California-modern dwellings, palatial estates, garden-like compounds, and plenty of comfortable single family homes, mostly built in the 1930s, 40s and 50s.

The median home price is approximately $582,951 in Sierra Oaks – almost 60% higher than the Sacramento median - with homes selling for over a million dollars frequently. Home prices have appreciated a generous 41% over the last 5 years in Sierra Oaks, and 15.4% from May 2015 to May 2016.

Homes in Sierra Oaks sell for top dollar these days, thanks to the neighborhood’s desirability, quality, and high demand. In fact, homes in Sierra Oaks now sell for 99.5% of list price, and 70% of all homes for sale in that area will be in contract within 8 days. With a 34.1% decrease in homes for sale since last May, it’s no wonder why the few homes remaining are selling, and for the upper echelon of price ranges.

Parks, rivers, and plenty of nature:
For nature lovers and outdoor enthusiasts, Sierra Oaks offers far more than just upscale shopping and fine dining. The neighborhood is home to the well-kept Oak Meadow Park, University Park, and offers easy accesses the American River Parkway for joggers, bicyclists, and people who want to swim or boat on the river. The exclusive Rio del Oro Racquet Club is also located in Sierra Oaks, with 24 tennis courts, five pools, and plenty of fitness amenities. But homeowners and residents don’t need to look far to enjoy nature and the wildlife, with plenty of mature trees that house the occasional wild turkey, deer, and a host of bird species.

Affluence and employment in Sierra Oaks:
Sierra Oaks remains one of the most refined neighborhoods in metro Sacramento, with a median household income of approximately $91,141, compared to a $48,034 median income in greater Sacramento. Sierra Oaks enjoys a reputation as a financially conservative and stable area with a strong tax base, as evidenced by the fact that only 58% of Sierra Oaks homeowners have a mortgage, compared to 75% in the rest of Sacramento. The percentage of working adults who are doctors or in the healthcare profession is about three times that of Sacramento, and those who work in arts, design, and media outpace those in Sacramento by four-to-one.

Notable sons and daughters:
Last year, the Sacramento Business Journal wrote a profile piece on Jeff Randle, political strategist and President of Randle Communications, who is a Sierra Oaks resident. The Capitol Weekly's annual Top 100 also included two accomplished Sierra Oaks residents: Donna Lucas, President and CEO of Lucas Public Affairs and former chief of staff to Maria Shriver, and Kevin Sloat, principal and founder of Sloat Higgins Jensen and Associates, a political lobbying firm, and Sacramento Kings ambassador.

Fine (and fun) dining in Sierra Oaks:
Sierra Oaks boasts some of the most celebrated restaurants and best dining experiences in all of Sacramento. Residents and visitors love close-by neighborhood eateries like Banderas, Piatti, Ettore’s European Bakery, Zinfandell Grill, Miyagi Bar and Sushi, CafĂ© Bernardo, Roxy Restaurant and Bar, Fins Market & Grill and the ever-popular Jack’s Urban Eats.

High end shopping:
Discerning shopaholics leave the pedestrian and crowded Arden Mall behind and come over to Sierra Oaks, where they can browse among the prestigious shopping areas at Loehmann’s Plaza and Pavilions Shopping Center. But even if you’re not buying something from a storied boutique like William Glen, you can sit outside with friends to enjoy a cappuccino or a glass of Merlot while people watching. 

A first-rate school system:
Sierra Oaks focus on academic excellence, with the Sierra Oaks School and Country Day School are both regularly honored as two of the top educational institutions in all of California. Thanks to the affluence of its residents, 72.2% of children in Sierra Oaks attend private schools, compared to only 8.4% in the rest of Sacramento.

Sierra Oak’s strong community:
The Sierra Oaks Neighborhood Association, or SONA, is a non-profit community group with the mission of enhancing the livability and ensuring the quality of life for all residents. According to Melinda Eppler of the Sierra Oaks Neighborhood Association, “The homes have a great deal of charm, refined architecture, quality building and mature trees. There's pride of ownership. People maintain their property. It's an exclusive area and highly desirable."

It sounds like Sierra Oaks is a great place to consider purchasing a home – or take advantage by selling your house at the high point of the market if you live there already!

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