The same number of homes that sold in January sold in February: 1658. The Arden Arcade real estate market seems not to change much month to month. But if you are considering buying a short sale, this might defnitely be the market for you. Unit volume is up year over year by 65%. 1237 foreclosures sold in the Arden Arcade area along with 175 short sales and 246 non-distressed homes. So 85% of homes sold here are now distress sales, which is never a good thing for home prices.

Average sold price per square foot is down 30% from a high of $162.17 to $113.57. The average sales price is down 34% year over year to rest at $180,757. Median price is also down 38% for the same period to $155,000.

Inventory is at 3.7 months based on the last 12 months of sales and 3.6 months based on the last six months of sales. Foreclosure inventory is at 1 month. Short sale inventory is going to take its sweet time drying up – in spite of its recent surge it is still at 20.5 and 17.5 months respectively.

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