Where is the bottom in real estate prices for Galt? That seems to be question on everyone’s mind that lives there, or intends to buy there, I suppose, but there are no easy answers. Prices, along with sales, have been falling in Galt unlike other places where prices and sales have an inverse relationship.

Unit volume was 17% lower year over year: 39 homes sold this month in Galt as compared with 47 last July. Foreclosure sales fell by 31.4% and short sales by 50% year over year. However, non-distressed sales gained ground by 175% for the same period.

Average sold price per square foot is 24.3% lower than it was a year ago, currently $105.72 down from $139.68. Average sales price is 26% lower – coming from a high of $217,349 to rest at $160,973. Median sales price is $150,000.

Inventory in Galt is at 3.3 months based on the last year of sales and 3.4 months based on the last six months of prior sales. Foreclosure inventory is under a month.

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