For the first time this year, we are seeing a slowdown in the Orangevale real estate market. 37 homes sold this June, about 5% lower than last June and the biggest change has occurred, as elsewhere, in the foreclosure sales. Foreclosures have dropped 16.7% year over year, while short sales gained 50% for the same period. There has been no change in the non-distressed sales. So for the first time in a long time in Orangevale, non-distressed property sales have inched past distress sales! 51.4% of all homes sold are now non-distressed sales.

This change reflects itself in average sold price per square foot as well. Prices headed up month over month by about $10 but they were still 14.7% under prices from a year ago. Average price per square foot is currently $152.66 down from a high of $179.00 last June. Average sales price is $261,605 which is 7.6% lower year over year from a high of $283,032. Median sales price is currently $206,000.

Inventory in Orangevale is at 4 months based on the last year of sales and 3.9 months based on the last six months of sales. Foreclosure inventory is under a month.

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