More home buyers seem to be gravitating towards non-distressed homes today than a year ago. Surprised? Well, at least that seems to be the case in Orangevale. Non-distressed homes sales have seen an 80% increase year over year, along with foreclosures and short sales. A total of 22 homes sold in Orangevale this January: 10 foreclosures, 3 short sales and the aforementioned 9 non-distressed homes. That’s an overall increase in sales year over year of 69.2%.

Incidentally, the average home sold in Orangevale this January is also 25% bigger than the home sold in January of 2008. The reason for this is perhaps the fallen prices. Average price per square foot is now 23% under last January’s $205.90. It is currently $158.70. Average sales price is down 4.7% year over year – but remember the more accurate measure is price per square foot. Average sales price is currently $290,434, down from $304,847 last January. Median price is down 2.1% from a high of $268,107 to $262,500 for the same period.

Inventory is at 5.3 months (based on the last 12 months of sales) and 5.2 months (based on the last six months of sales.)

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