We see the more robust side of the Carmichael real estate market here in July. Sales and prices were both up month to month and sales were a little higher year over year. Unit volume gained by 3.8% in Carmichael in the month of July and with no change year over year coming from the foreclosure market and a decrease in the short sales by 40% the increase in sales was borne purely by the non-distressed sales. We’ll have to see if this trend continues and converts into a recovery.

Sold price per square foot was slightly higher this month, currently $160.38 down 13.5% year over year. Homebuyers also afforded themselves homes bigger by 5.3% in general year over year. Average sales price is at $278,262 down 9% for the same period from a high of $305,353. Median sales price is at $232,050.

Inventory in Carmichael is at 5.9 months based on the last year of sales and 6 months based on the last 6 months of sales. Foreclosure inventory is at 0.9 months.

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