With the relatively low number of foreclosures in the Greenhaven area we had initially thought that the popular “pocket area” of Sacramento county would recover relatively quickly from the fall of real estate prices. However, with an eye to the short sales, the enthusiasm has been careful. And rightfully so. Unit volume increased in the Greenhaven area year over year by 33.3% even though foreclosure sales fell by 25%.

There was no huge corresponding increase in short sales and non-distressed sales however, both of which did see some increase in sales. The short sale sweep we are waiting for has not yet arrived in Greenhaven and so prices continue to hover around the $160 – $170 per square foot mark.

Currently average price per square foot is $164.53 down 9.4% year over year from $181.63. Average sales price now sits at $286,146 down 15.6% year over year but since homebuyers bought homes on average 7% smaller than last October, the more accurate figure is price per square foot. Median sales price is now at $282,500.

Inventory is at 5.4 months based on the last year of sales and 4.5 months based on the last six months of sales.

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