53 homes sold in the area of Carmichael this last month, an overall unit volume increase of 43.2% year over year. Of these, 14 were foreclosure sales, 8 were short sales and 31 were non-distressed homes. Non-distressed home sales have jumped 82.4% year over year, a statistical detail that would have been good news except for the short sale inventory that remains steady at 20+ months. 1 out of 2 homes sold are now non-distressed sales.

Average price per square foot is now $151.31 which is a 5% decline year over year from $159.33 last May. Home buyers asa result afforded themselves homes on average 10% larger than they did last May. Average sales price seems to have increased from $279,950 to $291,331 – a 4.1% increase but keep in mind that the average price per square foot gives a more accurate picture. Median sales price is fairly stable at $240,000. Last May it was $236,659.

Overall inventory in Carmichael is at 6.3 months. Foreclosure inventory is at 2.2 months and short sale inventory as previously mentioned is at 20.3 months.

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