Like many established neighborhoods, Sacramento’s Pocket Area is a one that has been less hard hit by foreclosures than other areas in Sacramento County.  As a result, price declines have been moderate in this area, but we’ve yet to see a recovery from last year’s sales numbers in terms of the number of units sold.

This year’s average home in the Pocket area fetched $352,207, down 12.8% from last year’s average of $403,729.  Sold price per square foot fell just slightly more, 14.2%, from $231.39 in May of 2007 to $198.47 in May of 2008.  While short sales and foreclosures comprised 72% of sales overall in Sacramento County, in the pocket area these sales made up only 43% of sales.  Unlike the rest of the county, where unit volume rose more than 70% in May, in the Pocket area unit volume fell by 36% from May to May, with 33 units selling last May compared to only 21 this May.  Nevertheless, active inventory in the Pocket area is currently low at 4.4 months, compared to 8.3 months overall for Sacramento County.

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