1761 homes sold this month in Sacramento county and unit volume is very close to last year’s sales in the month of May – in fact we’re down only by 5.5%. So if it wasn’t for the short sale inventory still lagging by about a year, I would be feeling pretty about the Sacramento real estate market.

In the various categories, 644 foreclosures sold this month, which is a drop of 43.7% year over year and 421 short sales also closed escrow which is a 56.5% increase for the same period. 696 non-distressed homes sold this month for an increase of 54.3% year over year. Almost 40% of all homes sold are now non-distressed sales over 25% last year at this time.

Average price per square foot is now $125.55, which is a 7.4% increase year over year from $116.86 last May. Average sale price rose to $207,162 from $191,938 last May. That is a 7.9% increase in prices year over year. Median price also increased year over year by 5.9% from $170,000 to rest at $180,000 this May.

Inventory in Sacramento county is at 4.5 months based on the last year of sales and 4.8 months based on the last six month of sales. Foreclosure inventory is at 1.5 months and short sale inventory is still relatively high at right around a year.

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