I’ve heard that nothing is ever happening in downtown Sacramento and although I haven’t been there to see the nightlife in a while now, I must admit that on the real estate front, downtown Sacramento is always pretty exciting. Due to the low number of homes sold there and the variety of homes itself in the area, the real estate statistics for downtown Sacramento always seem to be very exciting.

Here’s a snapshot of what I mean: 3 foreclosures sold this month, that’s UP from none last March. 5 non-distressed homes also sold – that’s DOWN from last March’s 8. But the overall sales remain the same: 8. Thus year over year, we see no difference in sales. However, the average home sold was 36.3% bigger than last year at the same time. Yes, you read that right. 36.3% bigger – that’s almost 500 square feet!

Sold price per square foot no doubt is helping with affordability. Currently the average sold price per square foot is $212.20, down 29% year over year from a high of $299.03. Average sales price is $393,000, dipping just 3% year over year from a high of $406,313. Median sales price is at $334,000.

Inventory is at 5.8 months (based on the last 12 months of sales) and 7.6 months (based on the last 6 months of sales).

Comments are closed.