As elsewhere, the slowdown continues in the Rancho Cordova real estate market. 25 homes sold in the area this June as compared with 32 last June. That’s a drop of 22% year over year. Hardest hit were non-distressed properties and foreclosure sales. Non-distressed sales were down 56.3% year over year and foreclosure sales were down 7.1% for the same period. Short sales gained ground by 150%.

Average sold price per square foot is currently $109.79 in Rancho Cordova. That is 15.8% under last year’s price per square foot of $130.47. Average sales price is $294,509 – 10.1% lower than last June’s $327,636. But the more accurate measure here is the price per square foot because the average home sold was also 6.8% bigger this June than it was last June. Median sales price is currently $280,000.

Inventory is at 3.8 months based on the last year of sales and 4.2 months based on the last six months of sales. Foreclosure inventory is at 0.6 months no matter how you look at it.

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