Does real estate have “fun facts” — or is it just arcane trivia?   Well, either way:  did you know that — along with downtown — East Sacramento boasts the highest sold price per square foot of any local area, including Granite Bay and El Dorado Hills?

Up until recently, this fairly pricey community seemed immune to the price erosion in the rest of the area.  In the last few months, however, we’ve sometimes had to report price drops for East Sac.

In July, for example, the average sold price per square foot in East Sac was $324.61, down 12.5% from last July’s average of $370.84.  This year’s average East Sac home was about 1557 square feet in size and sold for $505,656.  This average selling price was down 7.3% from last July’s average of $545,422.

With homes in East Sacramento selling for more than twice the price of homes in surrounding communities, demand for homes in East Sac has slackened from last year, with unit volume down 33.3%.  While most areas have seen huge demand and falling inventory fueled by bargain foreclosure prices, East Sac’s inventory has actually risen over time.

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