With slightly fewer foreclosures than Sacramento County overall, Fair Oaks has seen prices erode somewhat less swiftly.  In that respect, it’s behaving much like Folsom or many areas in Placer County or El Dorado County.

In June, volume rose just slightly (3.1%) from last year.  This June, 42.4% of sales were non-distressed sales, versus 12.1% short sales and 45.5% REOs.  The average home sold for $345,991 in June, down 19.5% from last year’s average of $429,625.  On a sold price per square foot basis, Fair Oaks homes lost 18.6% of their value during this time, selling for $230.91 per square foot on average in June of 2007 versus $187.93 on average in June of 2008.

Inventory in Fair Oaks is rising over the last few months, and currently there are 7.5 months of inventory overall.

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