If you were surprised when the average price per square foot in the Fruitridge / Elder Creek area fell to under $100 you’re going to be horrified to read that average price per square foot is currently $81.87 a square foot.

Fueled by perhaps these low prices, unit volume has surged to 12.8% higher than last July. 106 homes sold this July in the are and the majority are still foreclosure sales. Short sales are also beginning to pick up. Foreclosure sales fell by 19% year over year however and non-distressed gained 141.7%. Short sales gained 333.3% year over year and emerged as the winner.

Average sales price is now $88,370 which is 20.6% lower than it was last July from a high of $111,361. Median sales price is at $69,450 – believe it or not – which is 31.2% lower year over year! The average home sold was incidentally 4% smaller this July as compared with last July.

Inventory is at 2.2 months based on the last year of sales and 2.3 months based on the last six months of sales. Foreclosure inventory is at 0.4 months no matter how you look at it.

Comments are closed.