Sales of homes in Rancho Cordova have all but come to a grinding halt, or so it seems when you take a look at the statistics. Overall unit sales are down by almost a third year over year, foreclosure sales are down 41% for the same period and homebuyers are also not taking any particular interest in non-distressed sales either. Those are down also by a third year over year. Short sales gained ground a little bit, but that’s a negligible amount when you see that instead of 3 short sales last July, there were 4 this July.

The conditions then are ripe for falling prices. Average price per square foot is inching slowly toward the $100 mark. Currently it is $106.52 per square foot. That is 17% under last July’s high of $128.28. Average sales price has fallen from $329,138 last July to $278,563 this July. Median sales price currently rests at$284,990.

Rancho Cordova still has 4.4 months of inventory left to clear up based on the last year of sales. Based on the last six months, this inventory grows to 4.7 months. Foreclosure inventory remains at 0.8 months no matter how you look at it.

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