With its picturesque natural surroundings, excellent schools, and proximity to Sacramento, Granite Bay has become a sought-after locale for many and offers a great balance of urban energy and suburban tranquility. However, for those who are seeking one of the beautiful luxury homes for sale in the area, it’s essential for potential buyers to understand the real cost of living in Granite Bay. Beyond the sticker price of a home, other factors, from utilities to dining options and more, can significantly impact your overall budget. So, as you think through a move to Granite Bay, take a look at the financial and lifestyle considerations that come with investing in this prestigious community.
In this guide, we'll walk you through the average home prices, utilities and transit costs, grocery options, and salary expectations in the area. An investment in Granite Bay is an investment in a truly incredible place to call home, so get out your calculator and find out whether buying a home in Granite Bay will be the right move for you.
Granite Bay home prices
Home prices in Granite Bay sit well above the national average and can range from $500,000 to just under $20,000,000. As of the most recent data from the California Association of Realtors, the median price of Granite Bay homes currently sits at $900,000, which is more than twice the median price of homes nationwide — but for good reason.
Homes for sale in Granite Bay are spacious and beautiful, featuring plenty of amenities and impressive architectural elements. With stunning, modern designs and state-of-the-art features, it’s no wonder why these properties quickly come off the market and command high prices.
Though homes are upscale and in high demand in Granite Bay, potential buyers should also keep in mind that prices have been on the decline in recent months as the market has cooled off. While the most sought-after homes still sell for over listing price, the average home can be negotiated down, with approximately 55% of active listings experiencing a price reduction in recent months. That said, work with your Granite Bay real estate agent to devise a competitive offer letter for the home you fall in love with.
Utilities and transit
In terms of transit, Granite Bay is a relatively car-dependent community. While there are some public transit options available, they may not be as convenient or efficient as owning a car. The average cost of gas in Granite Bay is currently around $4.50 per gallon, which is slightly higher than the national average, and car owners should take into account the expense of car insurance as well. In California, the average annual cost of full car insurance coverage is around $2,291.
Groceries and dining
Dining out in Granite Bay can be a bit pricier, as the area is known for its upscale restaurants and fine dining establishments. At higher-end spots like Farmhaus or Hawks, guests can expect to pay around $50 per person plus drinks, while more casual eateries like the Habit Burger Grill and Bernardos are perfect for those wanting to save a little extra cash.
Average salary in Granite Bay
Find your forever home in Granite Bay
When you decide to step into the local market, work with a real estate team that understands the unique trends in the Granite Bay real estate scene and can help you find the right property to meet your budget. Boutique Real Estate is a trusted and experienced agency with a deep understanding of the Granite Bay community and everything it has to offer. By teaming up with Boutique Real Estate, you can be confident that you'll receive personalized service and support at every turn. So why wait? Contact Boutique Real Estate today.
*Header photo courtesy of Shutterstock