This has not been a fantastic month for Arden-Arcade on any count. Unit volume has fallen along with price. A total of 81 homes sold in the month of August in the area, which was a unit volume drop of about 21.4% year over year. Foreclosure sales fell by 34.1% and non-distressed property sales also fell by 31%. The only real winners were short sales which gained 250% year over year!

Average sold price per square foot is now $141.84 which is 27.2% under last August’s price per square foot measure. And other numbers aren’t comforting either: the average home that sold for $271,781 last August can today not even hit the $200,000 mark. Average sales price in the area today is $194,537, which is 28.4% lower year over year. Median sales price is now at $165,000.

Inventory in Arden-Arcade is now at 5.1 months based on the last year of sales and 5 months based on the last six months of sales. Foreclosure inventory is at 0.7 months and 0.8 months respectively.

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