Sacramento county is a mixed bag of news this month. The bad news is that prices still show a decline year over year. The good news is that the price declines are a lot smaller than they were a few months ago. In another piece of good news, REO inventory seems to be drying up and homebuyers are beginning to get interested in the non-distressed market as well.

A total of 1667 homes sold in Sacramento county this month, which included 774 REOs, 310 short sales and 583 non-distressed homes. This brings the percentage of non-distressed sales to 35% as compared with barely 20% from a year ago. Bank-owned home sales have fallen 48.3% for the same period while short sales have risen inversely to that by about 39% year over year. These are all good signs for a recovering market. Unfortunately unit volume seems to have suffered a blow: 22.3% less homes sold this month as compared with last September.

Average price per square foot is now at $121.09 which is 7% lower than it was a year ago when it was $130.22. Average sales price is now under $200,000 at $199,489, also a fall of 4.1% from last September’s high of $208,117. Median sales price for Sacramento county now rests at $175,000.

Inventory is consistently at 3.4 months whether we consider the last six months of sales or twelve. Foreclosure inventory remains at 0.5 months.

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