Real estate sales in the Arden-Arcade area have picked up since we last took in a look in February of this year but we have yet to see if this is because of the summer/spring bounce in sales or it is sustainable over the year. 88 homes sold in the month of May, an overall increase in sales by 22.2% year over year. Foreclosure sales on the other hand fell by 25%. Short sales jumped 260% (they went from 5 to 18) and non-distressed home sales increased 31.4% year over year. 1 out of 2 homes sold are now non-distressed.

Average price per square foot fell slightly by 6.1% year over year. It currently rests at $164.12 down from a high of $174.73. Average sales price followed the same trajectory to settle at $251,671 from a high of $268,815 last May. That’s a decline of 6.4% year over year. Meanwhile, median sales price gained a miniscule 1% from $179,000 to $180,750.

Overall inventory hovers around 6 to 7 months in the Arden-Arcade area, foreclosure inventory around 2 to 3 months.

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