One of the hot spots for buyers in Sacramento is the Rosemont area (95826 and 95827).  More than twice as many homes sold this July (80 total) as a year ago in July (38 total).  Bank foreclosures accounted for 70% of all sales in July, with non-distressed homes making up 23.8% of sales.  As in most areas, the dismal bank acceptance rate of short sales meant that short sales came in dead last at 6.3% of sales even though they’re often priced very competitively indeed.

Sold price per square foot averaged $142.93 in July in Rosemont, down 33.1% from last July.  The average sale price was $206,844, down 34.6% from last year’s average of $316,313.

Needless to say, huge sales numbers help to fuel low inventory numbers.  Rosemont currently enjoys only four months of inventory, most of which are short sales.  There are currently 58 foreclosures, two foreclosures more than the 56 that sold last month.

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