Homeowners in Fair Oaks can breathe a sigh of relief. Sales are up year over year and at least some seasonal price relief is being seen. A total of 33 homes sold this June, up 3.1% year over year. Meanwhile, foreclosure sales have fallen 40% for the same period and short sales have gained 100%. Non-distressed sales are also up 23.1%. Good news overall.

Average sold price per square foot has recovered from last month’s drop to $163.78. It still is 13.2% under last June’s high of $188.70. Average sales price for a house in Fair Oaks is currently $288,042, down 15% year over year from $338,416 but better than last month’s average of $278,519. Median sales price is at $241,000.

Inventory in Fair Oaks points toward the recent slowdown in sales we saw over winter: based on the last 12 months of sales, it is at 5.4 months but if you consider the last six months of sales, inventory is at 6.3 months. Foreclosure inventory is at 1.2 months and 1.5 months respectively.

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