As in most areas, residential sales in Citrus Heights in January were down slightly from last year. Perhaps because of the large number of good starter homes in this area, however, inventory is not quite as high as we’ve seen elsewhere.

68 homes sold in January, down 28% from last January’s 94. The average sale prcie was $325,159, or 98.7% of the average list price of $329,517. The median sale price was $331,500.

Surprisingly, appreciation on a cost per square foot basis was somewhat lower than expected, at 6.5%. (My gut feel is that appreciation is usually lower on the higher priced homes, but in this instance it looks like I’m off).

The expired to sold ratio has increased dramatically over the year, as we’ve seen in other areas. Last January it was 6.4%, and this January it was 82.4%. There are 4.93 months of homes in inventory.

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