If real estate sales are what you want in Sacramento county, this month’s market snapshot should make you pretty happy. If price increases are what you’re after, you might be want to stop reading right now. Oh well. Nobody said I was the Florence Nightingale of real estate. (What? Did I just say that? I knew I needed to get rid of this laptop – sometimes it talks on its own!)

Anyway, enough jokes. Let’s get down to the numbers: A total of 1836 homes sold in the month of March. The foreclosures alone outpaced the overall unit sales of last year at this time and that isn’t something to shake a finger at. Total sales last March were 1216. Foreclosures this March were 1296 or 80 more than the total inventory sales. 220 short sales also sold in March of 2009 along with 320 non-distressed homes. 83% of all sales are now distress sales.

Foreclosure sales are up year over year by about 74.4%. Short sales are the clear winner in terms of gaining the most amount – 189.5% over last year and non-distressed sales are down 19.4% for the same period.

The average sold price per square foot is currently at $112.70 which is 27% under last year’s price for March ($154.24). The average sales price has also tumbled 30.5% from a high of $261,337 to $181,685 currently. Median price has dropped 35% to $160,000.

Inventory numbers look better than they did last year as well as last month. Inventory has shrunk further to 3.5 months (based on average sales of the last 12 months) and 3.6 (based on average sales of the last 6 months). Forelosure inventory is now at 0.9 months.

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