The numbers for real estate sales in the Arden Arcade area of Sacramento would stay pretty much the same as last year if it wasn’t for the foreclosures. We see almost the same number of short sales year over year and almost the same number of non-distressed sales year over year: 7 over 4 and 22 over 19, respectively. What is vastly different in the real estate landscape this year is the number of foreclosure sales: 47 this year over a mere 20 last year at the same time.

So it is no wonder that overall sales are up this January by 76.7% year over year. A total of 76 homes sold in the month of January as compared with just 43 last January.

Another effect foreclosure sales have on real estate is that they push prices down. We definitely see that in Arden-Arcade. Average price per square foot is down from $194.21 to $144.40 currently – that’s a drop of 25.6% year over year. Average sales price is also down 29.7% year over year from $305,053 to $214,451. Median sales price is down to $143,500 – a drop of 40.2% for the same period.

Inventory in Arden Arcade is at 4.6 months based on the last year of sales and 4.4 months based on the last six months of sales.

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