103 homes sold in the city of Citrus Heights this month as compared with 101 last September keeping the unit volume almost the same. Within the individual categories though we see some marked differences that suggest this market might be heading toward some stabilization. For instance, foreclosure sales fell 29.4% year over year while both short sales and non-distressed property sales gained momentum. Non-distressed property sales rose by 135.7% brining the ratio of distressed to non-distressed home sales to 3:1 from almost 10:1 a year ago.

In terms of price data, the news is not as encouraging however. Current price per square foot is now $122.60, a drop of 12% year over year from a high of $138.96 a year ago. Average sales price in Citrus Heights is now $171,897 down 9% from $188,785 a year ago. Median sales price is now $165,000.

Inventory in Citrus Heights is at 2.1 months based on the last year of sales and 2 months based on the last six months of sales. Foreclosure inventory remains at 0.5 months.

Comments are closed.