Fair Oaks continued to enjoy strong demand in August, yet with homeowners losing less of the value of their homes than in other areas of Sacramento County.  Fifty-four homes sold in Fair Oaks in August, besting last August’s volume of forty-one units by 31.7%.  Bank foreclosures and short sales made up 59.3% of all sales in August, and comprise 41% of active inventory. 

The average home that sold in Fair Oaks in August was 1831 square feet in size, and sold for $333,816.  This sale price is down 12.2% from last year’s average of $380,000.  Sold price per square foot fell 16.5% from August to August, from $218.27 in August of 2007 to $182.30 in August of 2008.  The median selling price in Fair Oaks fell 12.6% from year to year, from $334,000 in August of 2007 to $292,000 in August of 2008.

Inventory in Fair Oaks is slightly higher than other areas of Sacramento at 6 months, but is much lower than last year.

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