Real estate in Downtown Sacramento (95814 and 95816) continued to command top dollar in May, with sold price per square foot running more than twice as high as the county-wide average, though this year’s crop of homes was much smaller overall than last year’s.  Sold price per square foot was at $319.09 in June, down only .4% from last year’s average of $320.50.  On average, however, this year’s crop of homes was much smaller, with the result that the average selling price fell some 21.5%, from $488,553 last year to $383,732 this year.

70% of the homes that sold in downtown were non-distressed sales.  No short sales sold in either year, but this June, six of the twenty sales were bank foreclosures.  In active inventory, 78% of homes are non-distressed, 5% are REOs, and 17% are being offered as short sales.

Unit Volume in Downtown Sacramento

Units Sold	June, 2007		June, 2008	Change
Foreclosures Sold	0		6	N/A
(% of total units)	0.0%		30.0%
Short Sales Sold	0		0	N/A
(% of total units)	0.0%		0.0%
Non-distressed Sold	18		14	-22.2%
(% of total units)	100.0%		70.0%
Total	18		20	11.1%

Home Prices in Downtown Sacramento

Prices	June, 2007		June, 2008	Change
Sold Price / Square Foot	$320.50		$319.09	-0.4%
Average List Price	$501,272		$393,705	-21.5%
Average Sale Price	$488,553		$383,732	-21.5%

Inventory (Based on 12 months of prior sales)

Sale Type	Average Sales Per Month	Active	Months of Inventory
All Sales	13	100	7.2
Foreclosures	1	5	3.0
Short Sales	0	17	68.0
Nondistressed	11	78	6.7

Inventory (Based on 6 months of prior sales)

Sale Type	Average Sales Per Month	Active	Months of Inventory
All Sales	13	100	7.2
Foreclosures	2	5	2.1
Short Sales	0	17	51.0
Nondistressed	1

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