From a lackadaisical August in Arden-Arcade we come to a September that did better than expected by most in terms of real estate sales and prices. 90 homes sold in the area and we see a unit volume increase of 11.1% year over year. Not bad considering that foreclosure sales fell by 21.7% for the same period. Short sales gained 120% and non-distressed sales were also up by 43.3% however. This brings us closer to the balance between distressed and non-distressed property to about 50-50.

Average sold price per square foot is a little higher than it was last month at $144.95. Last month it was $141.84. Nothing to celebrate yet however because year over year it is still a decline of 13.6% from a high of $167.78. Interestingly enough, homebuyers also bought homes on average 15% bigger this September than they did the last. Average sales price thus shows only the smallest amount of decline year over year (falsely so) from $227,954 to $227,004. Median sales price currently rests at $181,500.

Inventory in Arden-Arcade is at 5.5 months based on the last year of sales and 5.1 months based on the last six months of sales.

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