Land Park is a lot like downtown Sacramento in that it is such a small community that any little changes in sales and prices reflect a huge difference when we start to look at the statistical data for it. One thing however has not changed in this equation: homebuyers are definitely not interested in short sales in the area. There have been since last year 17 short sales consistently on the market and the average has been 1 sale in the last year and no sales in the last six months!

Unit volume suffered a decline this month by 45% year over year – just 11 homes sold this August as compared with 20 last August. Of these, 1 was a foreclosure (signaling a 75% drop) and 10 were non-distressed properties (corresponding to a 33.3% drop year over year.)

Average sold price per square foot is now $255.80 in Land Park which is 17.2% lower than last August’s sale price of $308.98. Average sales price climbed over the $400,000 mark this month: it is now $403,889 which is still however 14.2% lower year over year when compared with last August’s $470,625. Median price is $360,000.

Inventory is at 5 months based on the last year of sales and 4.5 months based on the last six months of sales. Foreclosure inventory is at 0.4 months no matter how you look at it.

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