Prices have slipped again over last month and last year in Greenhaven, or “Pocket Area” as it is called by most people. This 95831 area which has been relatively stable through the real estate downturn affecting most of Sacramento county seems to be facing some problems now. It could be just the holidays, or something more serious and foreboding – I guess we won’t find out until next year.

Home sales are down over last November by 13% – foreclosure sales up by 225% and non-distressed sales down by 72% over last year. The majority of sales in November were distress sales, which is rare for this part of Sacramento: two-thirds of the homes sold were distressed and only a third were non-distressed.

Of course, this means prices fell. The price of an average home is 29.8% lower this November than it was last year at the same time. Prices have gone for $390,719 to $274,220. The “average home” however is also 14% smaller than last year. A more accurate measure, the sold price per square foot, is 18.8% lower than last year to rest at $161.88. Median price for a house in Greenhaven has fallen 25.2% from its high of $365,000 last year to rest at $273,200 this November.

Inventory is at 3.7 months (based on the last 12 months of sales) and 3.4 months (based on the last 6 months of sales.)

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