Is it May showers that bring June flowers or June showers that dampen the real estate market? Well, it doesn’t look like the weather is to blame for the real estate market in Antelope, but the change in the REO inventory may have something to do with it!

Overall sales fell by 39% year over year in the 95843 zip code. Just 55 homes sold of which three quarters are still distress sales; but compare that with the fact that a year over more than 85% were distressed. Also, only 26 homes were foreclosure sales as compared with 67 last June. Foreclosure sales have dropped by 61.2% year over year while short sales gained 40% and non-distress sales gained 15.4% for the same period.

In terms of price per square foot, this did provide a boost. Sold price per square foot is currently at $114.38 higher than last month’s price but still 16.3% lower year over year. Average sales price is at $182,105, again 19% under last June’s high of $224,261. Median sales price is at $180,000.

Inventory is at 3.8 months based on the last year of sales and 4.5 months based on the last six months of sales. Foreclosure inventory is at 0.6 months and 0.8 months respectively.

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