As the Land Park area of Sacramento continues its slow real estate recovery which seemed to have begun last month, we see a drop in sales. A total of 13 homes sold in the area this month, which is a unit volume decrease of 31.6% year over year. Only 1 foreclosure and 1 short sale closed escrow this month along with 11 non-distressed properties. Land Park is one of those areas that has a relatively low number of foreclosures and distress sales and could be the first to begin a recovery.

Average price per square foot in Land Park is also higher than last month’s $270. It is currently at $281.09, still lower however than last year’s (at the same time) sold price per square foot of $300.49. Average sales price is 13% lower year over year to rest at $393,931 from a high of $452,468. Median price is at $335,000.

Inventory is at 4 months based on the last year of sales and 4.2 months based on the last six months of sales. Foreclosure inventory is at about half a month.

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