Another month with lower unit volume and higher prices. A total of 1562 homes sold in Sacramento county today – a unit volume decline of 18.2% year over year. That was compared with 1910 homes a year ago. The largest change in sales has been in the category of foreclosure sales, which recorded a 50.3% drop year over year. In fact, only 40% of all property sales are now REOs, down from 65.1% just a year ago. Short sales gained ground by 46% year over year while non-distressed properties also increased in sales by 39.2%.

April was another month of year over year price gains. Average sold price per square foot is now $123.14 – up 8.8% year over year and also higher than last month’s average price per square foot at $120.00. The average sized home in Sacramento county sold for 7.5% higher this April than it did last April setting the average sales price of real estate at $196,232. Median sales price is now $175,000 – up 13% year over year.

Inventory in Sacramento county is at 4.4 months based on the last twelve months of sales and 4.8 months based on the last six months of sales. Short sale inventory is – unfortunately for this budding real estate recovery – still over a year.

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