The Carmichael real estate market waited until January to change – quite dramatically – in fact. While the rest of the local real estate markets of Sacramento county seem to be stabilizing slowly, Carmichael just posted double digit declines in both average sales price as well as unit volume.

In unit volume we see declines in all categories. Foreclosure sales fell 23.8%, short sales fell 20% and non-distressed sales fell 25% year over year. Overall unit volume also declined 23.7% for the same period. Average price per square foot fell 10.7% year over year. Average sale price is now $278,583 which is 12.4% lower than it was a year ago. Median sales price is now $240,000.

Inventory in Carmichael is at 5.7 months based on the last year of sales and 5.8 months based on the last six months of sales. Foreclosure inventory is around 2 months. Short sale inventory which is the main cause of worry for most people is at 22 months.

Comments are closed.