28 Jun
Sacramento Rosemont Real Estate Market
Posted June 28th, 2008 | View Comments
Sales picked up somewhat in the Rosemont area of Sacramento in May. Fifty units sold in this area, up 19% from last year’s unit volume of 42 units. On a sold price per square foot basis, homes lost 25% of their value from May to May, with the average home fetching $204.55 in May of 2007 versus $153.38 in May of 2008.
This year’s average home sold for $205,083, down 31% from last year’s average of $296,469. Of the fifty homes that sold in the Rosemont area in May, 21 of them (42%) were non-distressed, 14% were short sales, and 44% were bank foreclosures.
Compared to Sacramento County as a whole, Rosemont experienced less sharp price declines and a lower rate of foreclosures. Also, Rosemont currently has 6.5 months of inventory, compared to a county-wide average of 8.3 months.
Our Market Data summary for Rosemont (95826, 95827) for May is below:
Unit Volume Data
| Units Sold | May, 2007 | May, 2008 | Change | |
| Foreclosures Sold | 7 | 22 | 214.29% | |
| (% of total units) | 16.67% | 44.00% | ||
| Short Sales Sold | 1 | 7 | 600.00% | |
| (% of total units) | 2.38% | 14.00% | ||
| Non-distressed Sold | 34 | 21 | -38.24% | |
| (% of total units) | 80.95% | 42.00% | ||
| Total | 42 | 50 | 19.05% | |
Price Data
| Prices | May, 2007 | May, 2008 | Change | |
| Sold Price / Square Foot | $204.55 | $153.38 | -25.01% | |
| Average List Price | $301,698 | $210,387 | -30.27% | |
| Average Sale Price | $296,469 | $205,083 | -30.82% | |
Inventory
| Sold Last 12 Months | Active | Months of Inventory |
| 414 | 224 | 6.5 |
