Sacramento’s Arden / Arcade Creek area consists of the zip codes 95821, 95825, 95841, and 958864.  Although this area has certainly been hit hard by the downturn, Arden / Arcade Creek has fewer foreclosures than the countywide average, and thus has experienced a less dramatic price decline.  As we’ve seen in most areas we’ve studied, the flip side of that fact is that Arden / Arcade has seen a more moderate recovery in unit volume. 

Getting into the specifics, the average home sold in Arden / Arcade Creek for $287,475 in June, down 28.1% from last year’s average of $399,847.  On a sold price per square foot basis, prices fell less sharply (21.3%), and averaging $195.77 in June of 2008.  Bank foreclosures currently make up 22.8% of active inventory, but accounted for 48.6% of all sales in June.  Short sales, which make up 27.3% of inventory, accounted for only 3.8% of June sales.  Non-distressed sales made up 47.6% of sales in June, and comprise 49.9% of inventory.

The twelve month running average for sales in Arden / Arcade Creek is 64 homes per month.  June is usually a heavy sales month.  105 homes sold this month, up 16.7% from last June’s sales.  There are 6.8 months of inventory in Arden / Arcade Creek.

Unit Volume Data

 

Units Sold	June, 2007		June, 2008	Change
Foreclosures Sold	7		51	628.6%
(% of total units)	7.8%		48.6%
Short Sales Sold	1		4	300.0%
(% of total units)	1.1%		3.8%
Non-distressed Sold	82		50	-39.0%
(% of total units)	91.1%		47.6%
Total	90		105	16.7%

Price Data

 

Prices	June, 2007		June, 2008	Change
Sold Price / Square Foot	$248.71		$195.77	-21.3%
Average List Price	$413,125		$298,029	-27.9%
Average Sale Price	$399,847		$287,475	-28.1%

Inventory (Based on 12 months of prior sales)

 

Sale Type	Average Sales Per Month	Active	Months of Inventory
All Sales	64	465	7.3
Foreclosures	20	106	5.3
Short Sales	2	127	46.2
Nondistressed	39	232	5.9

Inventory (Based on 6 months of prior sales)

 

Sale Type	Average Sales Per Month	Active	Months of Inventory
All Sales	68	465	6.8
Foreclosures	30	106	3.5
Short Sales	3	127	36.3
Nondistressed	34	232	6.7

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