The area made up of North Sacramento and Del Paso Heights (95815 and 95838) is an one that has been clobbered hard by the market downturn.  Homes in these areas have lost about a half of their value in a single year, with foreclosures making up almost all the sales.

The flip side of that?  Buyers are seeing bargains, bargains, bargains, pushing unit volume up to more than twice last year’s figure.

This May’s average sold price per square foot of $99.77 in North Sacramento / Del Paso Heights is down 48.9% from last year’s average of $195.40.  The average sale price has fallen 55.9% during this time, from $271,082 in May of 2007 to $119,104 in May of 2008.

Unit volume has cranked up dramatically in May, with 97 units selling this may versus 40 last may, an increase of 142%.  However, this development is too recent to make a serious dent in the inventory.  With only 44 units per month selling over the last year, inventory is currently very high at 13.3 months.

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