Fair Oaks is a beautiful, established community in Sacramento, commanding higher than average prices.  The foreclosure rate here, though not trivial, is lower than the Sacramento County average.  As a result, though prices have taken less of a dive here than elsewhere in Sacramento County, inventory is somewhat high.

This June, the average home sold in Fair Oaks for $187.93 per square foot, down 18.6% from the average of $230.91 in June of 2006.  The average home that sold in Fair Oaks in June listed for $345,991, and sold for $335,736.  The selling price average was down 19.7% from last year’s $418,091.

Though the county-wide combined average for the sale of short sales and foreclosures was 75% in June, in Fair Oaks that figure was only 57.6% (45.5% REOs and 12.1% Short Sales).

With prices falling less dramatically in Fair Oaks, inventory is somewhat higher than average at 7.4 months.

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