The real estate market in East Sacramento rallied somewhat in June.  The average home sold in East Sac in June for $574,158, up 8.2% over last year’s average of $530,568.  Sold price per square foot was down 10.3%, however, from $373.14 in June of 2007 to $334.79 in June of 2008.   The news is not all grim, however, since June’s figure has increased since May, when sold price per square foot came in at $299.79.

Non-distressed sales continued to predominate in East Sac, accounting for 77.8% of all sales in June.  In active inventory, short sales and foreclosures make up about 11% of the 97 available homes in East Sacramento.

East Sacramento is not a huge area, so few homes sell in the best of times.  However, unit sales are definitely down this year, with eighteen homes selling in June versus 19 the year before.  Moreover, average sales over the last six months have been more sluggish than over the last year, at thirteen units on average versus sixteen, respectively.  Inventory, which was low when we reported on it last year, is now up to about 7.1 months.

Related Articles:

East Sacramento Real Estate Market (Update for May 2008)

First Quarter 2008 East Sacramento Real Estate Market

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