06 Nov
Rancho Cordova Real Estate Market
Posted November 6th, 2007 | View Comments
The other day we looked at the real estate market in Gold River, a popular subdivision in Rancho Cordova (95670 — see area map).
Today we take a look at the Rancho Cordova community to the south and west, Rancho Cordova 95742 (area map of 95742). In this article, we’ll be dealing with Rancho Cordova numbers strictly for this zip code, for October 2007 versus October 2006.
Only seven homes sold in Rancho Cordova in October, and on average, only seven homes sold per month during the last year. Thus, the 142 units in inventory currently make up a very large number indeed in terms of unsold inventory: 20.3 months.
The average home sold in Rancho Cordova in October for $305,812, down 9.5% from last year’s average of $337,769. With this year’s 1931 square foot home being 7.1% larger than the average last year, the average sold price per square foot dropped from $187.34 last year to $158.37 this year, a 15.5% decrease. The median selling price in October was $305,000, down 9.9% from last year’s median of $338,331.
Of the 142 homes currently in inventory, fifteen, or 10.6%, are foreclosures.
