Foreclosures are drying up in East Sacramento. Year over year, we see a drop of 43% in foreclosure sales along with an increase in non-distressed sales of 35%. This has led to the tables turning from last June when 53% of all sales were distress sales to this June where 66% of all sales are now non-distressed. Overall unit volume is down by 4.7% for the same period.

For all this news however, prices haven’t fared that much better. Average price per square foot is currently $215.40 – a few dollars lower than last month and 6.8% lower year over year from a high of $231.12. Average sales price is $289,099 down 11.8% from last June’s high of $327,834. But the more accurate representation of the market is the average price per square foot since homes that sold this June were also 5.4% smaller. Median sales price is at $310,000.

Inventory in east Sacramento is at 3.7 months no matter how you look at it. Foreclosure inventory is at 0.6 months.

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