21 homes sold in the Rancho Cordova area this month. It was an overall unit volume increase of 23.5% a bit of a shock since foreclosure sales have fallen 27.3% year over year. Short sales meanwhile have increased from just 2 last February to 7 this month. Non-distressed sales also increased 50% for the same period. The majority of homes sold in the area of Rancho Cordova are still distress sales at a ratio of 5 distressed homes to 2 non-distressed.

Average sold price per square foot remains the same or almost the same as last year at $117.43. Last February, it was $116.82. However, homebuyers bought homes on average 14.2% smaller this February than they did the last. Average sales price thus has correspondingly fallen to $262,828 – a 13.7% decline from a year ago when it was $304,723. Median sales price now rests at $262,000.

Inventory in Rancho Cordova is at 6 months based on the last year of sales and 6.2 months based on the last six months of sales. Forelosure inventory is still at about a month and a half.

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