The downtown Sacramento market was mostly unchanged from last July. Some minor changes have shown up however. As I have mentioned before, it is harder to draw inferences from the changes in this market because one little difference swings the statistics this way and that. With that said, let’s jump right into it.

10 homes sold in the area in July, as compared with 11 last July. Of these were 2 foreclosure sales, 1 short sale and 7 non-distressed homes. It’s safe to say that more non-distressed homes sell in downtown Sacramento than foreclosures, and it’s rare that foreclosures come on the market at all. Currently, there are 2 foreclosures on the real estate market.

Average price per square foot currently rests at $241.82 which is 19% under last July’s high of $298.19. Interestingly enough the average home sold was also 19.3% smaller than it was last July! Average sales price currently is $301,400 down 34.6% year over year from $460,809. Median sales price rests at $265,000.

Inventory in downtown Sacramento is at 8.1 months based on the last year of sales and 8.5 months based on the last six months.

Comments are closed.