Land Park is a lot like downtown Sacramento in that the smallest change in every home sale counts toward big changes in the overall real estate market for the area. There has been no change in unit volume year over year – 19 homes sold in Land Park this May as they did last May. However, 1 more foreclosure sale and 1 more short sale closed escrow as compared with last May.

Average sold price per square foot is currently at $211.64, about 29.4% lower than it was last month. Also interesting is the fact that on average homes sold in Land Park this May are 45.2% bigger than they were last May! So, with that in mind the average sales price can be misleading when it shows a gain of 2.6% year over year. It is currently $395,126 as compared with $385,126. Median price is $385,000. Again, remember the average sold price per square foot is the most accurate measure in this case.

Inventory is at 4.8 months based on the last 12 months of sales and 4.9 months based on the last 6 months of sales.

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