As in other parts of Sacramento county, inventory in Rosemont seems to be drying up. We’ll have to wait and see if another wave of foreclosures upsets this lowering of inventory or if we can finally heave a sign of relief. Inventory is lower than it was last month, especially for foreclosures. Take a look: we are currently at 3.2 months of inventory if you base it on the average for the last year of sales and 2.6 months if you base it on the last six months of sales. Compare that with last month’s numbers of 4 months and 3.1 months respectively. Foreclosure sales only have inventory of approximately one month!

This is surprising considering total unit volume sales are up a mere 50% year over year. As has been the case for a while now, distress sales make up the major chunk of all homes sold. 62.5% of all sales are now foreclosures, while 10.4% are short sales. Short sales have enjoyed a 400% increase year over year. While the process is slow and drawn out, there seems to be some hope for short sales now. Only 27% homes sold are non-distressed. In spite of suffering a decline of 13.3% in sales year over year, non-distressed sales have almost doubled since last month.

Price data is also slightly better than last month as well, but a far cry from last year. The average price per square foot in Rosemont has fallen 25% year over year, from $173.10 to $130.13, slightly better than last month’s $128.16. Average sales price has fallen 27.4% year over year, from $258,045 to $187,331, again better than $177,780 which was November’s average sales price but nothing to write home about.

Median price is at $190,000, higher than November’s $170,000.

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