Since I’ve met quite a few home buyers from Sacramento interested in buying a vacation home in the Pollock Pines area, I feel the need to include a market update on the real estate goings-on uphill. So here it is!

You probably know this already, but it’s not a bad time to buy a home in this area if you can tolerate snow. 6 foreclosures sold this October in Pollock Pines, which is a sizeable number when you consider the total population here of about 5000 people. More than two-thirds of all home sales here are now distress sales and non-distressed sales make up only 30% of all homes sold. There are currently 26 foreclosures on the market, so second-home buyers… here’s your sign!

Average sales price has declined 10.6% over last October’s high of $277,143. It is now at $247,678. Sold price per square foot has dropped 28.8% from $191.89 to $136.56 for the same period. Why the huge discrepancy in the statistical data? Because the bargain hunters are now able to buy bigger homes! The average home sold is now 25.6% bigger than last October!

Based on the last year of sales, inventory is 13.1 months and based on the last 6 months of sales, inventory is at 12.5 months. So, Sacramentans, put on your snow shoes and head uphill! (Actually, you might want to hold off on the chains, it isn’t snowing yet.)

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