The Churchill Downs area of Sacramento is the area in the zip code 95829.  Though no one calls it either of these names, you could think of it as East Florin Road, or South Rosemont.  Churchill Downs is an area where there are many homes built in the late 1980s and early 1990s.  (The average "year built" in our database is 1989).  Many of these homes show quite nicely, and the large number of foreclosures have brought a typically priced home in Churchill Downs down to the low to mid $200,000s.

The average home sold in Churchill Downs in August for $230,348, down 44.5% from last year’s average price of $230,348.  With this year’s crop being 13.7% smaller than last year’s, however, sold price per square foot fell somewhat less.  This year’s average was $135.31, down 32.4% from last year’s average sold price per square foot of $200.21.  The median sale price fell 34.5% from year to year, from $336,025 in August of 2007 to $220,000 in August of 2008.

With thirty-seven of forty-three sales being "bank repos", foreclosures made up 86% of all sales in August versus "only" 26.9% last August.  Short sales accounted for 4.7% of sales, while non-distressed sales made up 9.3% of sales.

Currently in inventory there are 184 homes in Churchill Downs — about five months of inventory based on the last six months of sales.

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