This market update covers the zip codes 95841, 95821, 95864, and 95825.  This area saw much fewer foreclosures than the Sacramento County average, yet still experienced steep price drops.  94 units sold in Arden Arcade in 2008, up 10.6% from last year’s volume of 85 units.  37.2% of this year’s crop were REOs, 6.4% were short sales, and 56.4% were non-distressed — comparing favorably to Sacramento County, where only 28.6% of the properties sold were non-distressed.

The average home sold in Arden / Arcade Creek for $299,109 in May, down 32.3% from last year’s average of $422,108.  Sold price per square foot fell 27.9% over the period, from $246.71 in May of 2007 to $177.90 in May of 2008.

Inventory in Arden/Arcade is slightly better than the county-wide average, at 7.5 months.

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