A total of 26 homes sold in Orangevale in February of this year: 15 foreclosure sales, 7 non-distressed and 4 short sales. While the majority of homes sold are still distressed properties, we do see a year over year increase in unit volume by 44.4%. Foreclosure sales are also up 87% and non-distressed sales are up 75%. The only group suffering a decline in sales are short sales: down by 33.3%.

Average sold price per square foot has not changed much since last month: it is currently $157.93, a decline of 21.2% year over year from a high of $200.53. We also see an average sales price decline of 18.7% for the same period to rest at $230,437. The average home in Orangevale would sell for $283,603 last year at the same time. The median sales price offers no hope either: it is currently at $199,500, a drop of 23% from last February’s $258,430.

Inventory in Orangevale is at 5.1 months (based on the last year of sales) and 5.8 months (based on the last six months of sales) pointing to a slowdown just recently in sales. We will have to see if this slowdown is a result of the winter months or will stick around through the summer.

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