Downtown Sacramento is a market unto its own and even though we follow it every month, it’s hard to track a trend because the amount of data is so small. Every little change seems magnified as a result. Nonetheless, here are the details.

A total of 14 homes sold this June as homebuyers showed some renewed interest. Foreclosures were the hardest hit in terms of sales however – just 1 REO sold this June as compared with 6 last June, a year over year drop of 83.3%. 2 short sales sold this month as well along with 11 non-distressed properties. Unit volume was down 30% year over year.

Average price per square foot currently stands at $272.48 which is 14.6% under last June’s $319.09. Average sales price actually shows a positive jump of 4.5% going from $383,732 last June to $401,089 this June. However, we can safely call that an anomaly since the average home sold was also 22.4% bigger! Median sales price is $384,500.

Inventory is at 8 months based on the last year of sales and 9.5 months based on the last six months of sales. Foreclosure inventory is at 1.6 months and 1.8 months respectively.

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