Archive for 2009

Natomas Real Estate Market Update: July 2009

Natomas had been posting some impressive numbers for sales recently and perhaps that was because of all the new homes or relatively new homes that were in foreclosure. Home buyers were impressed with the size and the lack of repairs they had to make and those homes were bought rather quickly. In July, that pace has slowed. Foreclosure sales fell by 40% this month year over year going from 157 homes sold to just 94 this July. Short sales gained ground however with 150% increase in sales. Non-distressed sales remained in keeping with last July at 35 sales. Overall unit volume fell by 20.8% year over year.

Average price per square foot is now at $107.93 – that’s an 18.8% drop year over year from a high of $132.93. Average sales price also suffered a decline of 21% year over year to rest at $192,117. Median sales price is currently at $190,000.

Inventory in Natomas is at 3.6 months based on the last year of sales and 3.7 months based on the last six months of sales. Foreclosure inventory is at 0.5 months.

Florin Real Estate Market Update: July 2009

Unit volume in the Florin area is down by 24% year over year and yet 127 homes sold this month. The slowdown has been mainly foreclosure sales like elsewhere in Sacramento county. REOs fell by 39.6% year over year. Or to put another way, just 81 foreclosures sold this month as compared with 134 last July. 20 short sales and 26 non-distressed homes also closed escrow. That’s an overall jump of 54% for short sales and 30% for non-distressed property. Distress sales are now 80% of all real estate sales as compared with 88% of all sales last July.

We have yet to see any of this bring price increases, however. Average price per square foot is currently hovering around the $100 mark at $99.36 – that’s a drop of 17% year over year. Average sales price fell 13.2% for the same period to rest at $166,680 from a high of $192,021 from a year ago. Median sales price is currently $155,000.

Florin has an active inventory os 2.7 months based on the last year of sales and 2.8 months based on the last six months of sales. Foreclosure inventory is at 0.4 months.

Rosemont Real Estate Market Update: July 2009

With foreclosure inventory down to 0.5 months, homebuyers in the Rosemont area have begun house hunting in other avenues – short sales and non-distressed homes. Foreclosure sales dropped 67.9% year over year while short sales gained 240% and non-distressed sales 52.6% for the same period. We might be seeing here a slow recovery, especially since non-distressed sales are now almost 50% of all total sales. Unit volume was down 20% year over year.

Average sold price per square foot was $125.39, down 12.3% from a high of $142.93 last July. Average sales price is currently $175,208 down 15.3% from last July’s $206,844. Median sales price sits at $170,500 down 14.6% for the same period. The average home sold in Rosemont was also 3.4% smaller this July than a year ago, so the more accurate statistics here are the average sold price per square foot.

Inventory is at 2.6 months based on the last year of sales and 2.7 months based on the last six months of sales.

Pocket Area Real Estate Market Update: July 2009

The Greenhaven or Pocket Area as it is fondly referred to has had an interesting month of real estate sales in July. Foreclosure sales have fallen by 22.2% but overall unit sales are higher by 3.4% year over year, partially because of the non-distressed sales in the area. 30 homes sold this month of which just 7 were foreclosures, 2 were short sales and 21 were non-distressed sales. This means 70% of all sales in Greenhaven are now non-distressed sales.

Average sold price per square foot is at $169.66 which is 11.7% lower than a year ago when it averages $192.13. Average sales price is $335,676, also lower – 13.6% exactly – than last July’s high of $388,500. Median sales price rests at $333,500 which is 8% lower year over year from last July’s $362,500.

Inventory in the 95831 zip code is at 4.5 months. Foreclosure inventory is at 1.1 months and 1.2 months depending on how you look at it.

Franklin – Freeport Real Estate Market Update

The area of Franklin / Freeport is still riding high on foreclosures even though they have fallen by 29.4% from year to year. 192 homes sold in the area of which 125 were foreclosures, 28 were short sales and 39 were non-distressed sales. Non-distressed sales are – interestingly enough – higher by 62.5% year over year. Unit volume fell 10.7% for the same period. Distress sales are now 80% of all sales as opposed to 90% of all sales from a year ago.

Average sold price per square foot is currently $87.20 which is a drop of 19.8% year over year from a high of $108.77. Average sales price is $123,285 – a drop of 20.4% year over year from $154,912. Median sales price currently rests at $111,000.

Inventory in the Franklin / Freeport area is at 2.2 months based on the last year of sales and 2.3 months based on the last six months of sales. Foreclosure inventory is at 0.3 months no matter how you look at it.

Fruitridge Real Estate Market Update: July 2009

If you were surprised when the average price per square foot in the Fruitridge / Elder Creek area fell to under $100 you’re going to be horrified to read that average price per square foot is currently $81.87 a square foot.

Fueled by perhaps these low prices, unit volume has surged to 12.8% higher than last July. 106 homes sold this July in the are and the majority are still foreclosure sales. Short sales are also beginning to pick up. Foreclosure sales fell by 19% year over year however and non-distressed gained 141.7%. Short sales gained 333.3% year over year and emerged as the winner.

Average sales price is now $88,370 which is 20.6% lower than it was last July from a high of $111,361. Median sales price is at $69,450 – believe it or not – which is 31.2% lower year over year! The average home sold was incidentally 4% smaller this July as compared with last July.

Inventory is at 2.2 months based on the last year of sales and 2.3 months based on the last six months of sales. Foreclosure inventory is at 0.4 months no matter how you look at it.

Downtown Sacramento Real Estate Market Update: July 2009

The downtown Sacramento market was mostly unchanged from last July. Some minor changes have shown up however. As I have mentioned before, it is harder to draw inferences from the changes in this market because one little difference swings the statistics this way and that. With that said, let’s jump right into it.

10 homes sold in the area in July, as compared with 11 last July. Of these were 2 foreclosure sales, 1 short sale and 7 non-distressed homes. It’s safe to say that more non-distressed homes sell in downtown Sacramento than foreclosures, and it’s rare that foreclosures come on the market at all. Currently, there are 2 foreclosures on the real estate market.

Average price per square foot currently rests at $241.82 which is 19% under last July’s high of $298.19. Interestingly enough the average home sold was also 19.3% smaller than it was last July! Average sales price currently is $301,400 down 34.6% year over year from $460,809. Median sales price rests at $265,000.

Inventory in downtown Sacramento is at 8.1 months based on the last year of sales and 8.5 months based on the last six months.

Arden-Arcade Real Estate Market Update: July 2009

Much like East Sacramento, Arden-Arcade has shown an uptick in sales this month. Overall unit volume was up by 14.3% even though foreclosure sales fell by 14.5%. The biggest winners were short sales which gained 87.5% year over year. Non-distressed homes also gained 50% for the same period. A total of 104 homes sold in the area this July as compared with 91 last July.

40.4% of all sales are now non-distressed while foreclosures take 45.2% of the sales pie and short sales 14.4% of the overall sales in Arden-Arcade.

Average sold price per square foot was $138.94 down 18.7% year over year from a high of $170.97. Average sales price was $193,720 down 17.4% from last July’s $234,387. Median sales price rests at $162,500 down 14.5% year over year from $190,000.

Inventory is at 5.1 months based on the last year of sales and 5.3 months based on the last six months of sales. Foreclosure inventory is at 0.8 months and 0.9 months respectively.

East Sacramento Real Estate Market Update: July 2009

A renewed interest in homes in East Sacramento has buoyed the sales market there. Overall unit volume was 12.2% higher than it was last July even when foreclosure sales fell by 16.7% year over year. Non-distressed properties sales gained by 27% for the same period. There was no change in short sales. Now 72% of all sales are non-distressed sales, higher than last July’s number of 63% of all sales.

Average sold price per square foot has yet to recover however. It is currently $212.07 which is 11.5% lower year over year from a high of $239.55. Average sales price is now $290,946 down 5.1% from last July’s $306,459. Median price rests at $260,000. However, since homes sold this July were also 7.2% bigger on average, the more accurate figure here is the average sold price per square foot.

inventory in east Sacramento is at 3.9 months based on the last year of sales and 3.7 months based on the last six months of sales. Foreclosure inventory is at 0.6 months.

Rancho Cordova Real Estate Market Update: July 2009

Sales of homes in Rancho Cordova have all but come to a grinding halt, or so it seems when you take a look at the statistics. Overall unit sales are down by almost a third year over year, foreclosure sales are down 41% for the same period and homebuyers are also not taking any particular interest in non-distressed sales either. Those are down also by a third year over year. Short sales gained ground a little bit, but that’s a negligible amount when you see that instead of 3 short sales last July, there were 4 this July.

The conditions then are ripe for falling prices. Average price per square foot is inching slowly toward the $100 mark. Currently it is $106.52 per square foot. That is 17% under last July’s high of $128.28. Average sales price has fallen from $329,138 last July to $278,563 this July. Median sales price currently rests at$284,990.

Rancho Cordova still has 4.4 months of inventory left to clear up based on the last year of sales. Based on the last six months, this inventory grows to 4.7 months. Foreclosure inventory remains at 0.8 months no matter how you look at it.

Orangevale Real Estate Market Update: July 2009

25 homes sold in Orangevale this month, as compared with 32 last July. That’s a drop in unit volume by 22% overall year over year and the biggest drop has been in foreclosure sales: 54% lesser homes sold year over year in the REO market, but whereas in other places that has been countered by renewed buyer interest in non-distressed sales, the same has not happened in Orangevale. Non-distressed sales fell along with foreclosures, albeit at a slower pace: just 12.5% lower year over year. Short sales gained by 67%.

Sold price per square foot now averages at $145.72 down 27% year over year from a high of $198.80. Average sales price is currently $235,200 down 31% from last July’s $339,875. Median sales price is $210,000, also down 28% from last July.

Inventory in Orangevale is at 4.3 months based on the last year of sales and 4 months based on the last six months of sales. Foreclosure inventory is at 1.1 months and 1 month respectively.

North Highlands Real Estate Market Update: July 2009

Where can you buy real estate in Sacramento county for the amazing price of under $100 per square foot? The answer has to be North Highlands. But the more amazing part is that prices have recently fallen even further. Average sold price per square foot here is currently $87.62 which is a 9% price drop year over year from $96.32 last July. Average sales price is currently $96,376, which is a 10.2% drop from last July’s $107,267. Median sales price rests at $95,000.

In spite of the low prices, just 59 homes sold in the area, a unit volume drop of 11.9% year over year. Foreclosure sales fell by 52.5% while short sales gained by 1000% (which is to say that for 1 foreclosure last July, 11 sold this July.) Non-distressed sales gained by 186% for the same period. A third of the sales are now non-distressed sales.

Inventory is at 2.5 months based on the last year of sales and 2.9 months based on the last six months of sales.

Galt Real Estate Market Update: July 2009

Where is the bottom in real estate prices for Galt? That seems to be question on everyone’s mind that lives there, or intends to buy there, I suppose, but there are no easy answers. Prices, along with sales, have been falling in Galt unlike other places where prices and sales have an inverse relationship.

Unit volume was 17% lower year over year: 39 homes sold this month in Galt as compared with 47 last July. Foreclosure sales fell by 31.4% and short sales by 50% year over year. However, non-distressed sales gained ground by 175% for the same period.

Average sold price per square foot is 24.3% lower than it was a year ago, currently $105.72 down from $139.68. Average sales price is 26% lower – coming from a high of $217,349 to rest at $160,973. Median sales price is $150,000.

Inventory in Galt is at 3.3 months based on the last year of sales and 3.4 months based on the last six months of prior sales. Foreclosure inventory is under a month.

Fair Oaks Real Estate Market Update: July 2009

Even though there seems to be a lack of homebuyer interest in the Fair Oaks real estate market, there seems to be hope for the overall housing market in general. Why do I say that? Because average sales prices are falling in single digits year over year instead of the general free fall we have been seeing them in for a while now.

A total of 33 homes sold this month in Fair Oaks, a unit volume drop of 25% year over year. That drop includes a 5.3% fall in foreclosure sales and a 55% fall in non-distressed sales. Short sales gained by 20%.

Average sold price per square foot is currently $153.94 – that is a 12.3% fall year over year. Average sales price rests at $288,803 which is 6.4% under last July’s average sales price. Median sales price rests at $250,000.

Inventory in Fair Oaks is at 5.5 months based on the last year of sales and 6.1 months based on the last six months of sales, pointing to the slowdown in the real estate sales market, at least in this part of Sacramento county.

Citrus Heights Real Estate Market Update: July 2009

When foreclosure inventory dips below 0.5 months, homebuyers turn their attention to short sales. In Citrus Heights, as elsewhere in Sacramento county, this is probably a good thing since based on the last year of sales, there is still 8.5 months of short sale inventory on the market. But more about that later.

A total of 103 homes sold this month in Citrus Heights, a unit volume drop of 10.4% year over year. Foreclosures dropped by 33.7% while short sales gained 300%! Non-distressed property sales also gained by an un-newsworthy 3.7% for the same period.

Average price per square foot is currently $119.23 a fall of 16.6% year over year from a high of $143.00. Average sales price is at $171,161 down 15.9% for the same period from $203,616. Median sales price rests at $165,000.

Inventory in Citrus Heights is at 2 months based on the last 12 months of sales and 2.1 months based on the last 6 months of sales.

Carmichael Real Estate Market Update: July 2009

We see the more robust side of the Carmichael real estate market here in July. Sales and prices were both up month to month and sales were a little higher year over year. Unit volume gained by 3.8% in Carmichael in the month of July and with no change year over year coming from the foreclosure market and a decrease in the short sales by 40% the increase in sales was borne purely by the non-distressed sales. We’ll have to see if this trend continues and converts into a recovery.

Sold price per square foot was slightly higher this month, currently $160.38 down 13.5% year over year. Homebuyers also afforded themselves homes bigger by 5.3% in general year over year. Average sales price is at $278,262 down 9% for the same period from a high of $305,353. Median sales price is at $232,050.

Inventory in Carmichael is at 5.9 months based on the last year of sales and 6 months based on the last 6 months of sales. Foreclosure inventory is at 0.9 months.

Antelope Real Estate Market Update: July 2009

A slow climb upwards? We’ll have to see. But one thing’s for certain: with the foreclosure sales drying up in Antelope, the stampede is definitely over. Unit volume fell by 15.7% year over year. Total real estate sales added up to just 75 of which the majority (42) are still REOs but these are quickly losing ground to short sales (17) and non-distressed properties (16). Foreclosure sales fell by 32.3% year over year while short sales gained 21% and non-distressed sales 23% for the same period.

Price per square foot inched up over last month, but are still 15.7% under last July. They are currently $116.43. Average sales price is $202,764 – 9% lower year over year. Median sales price currently rests at $197,100.

Inventory is at 3.9 months based on the last year of sales and 4.4 months based on the last six months of sales. Foreclosure inventory is at 0.5 months and 0.7 months respectively.

Elk Grove Real Estate Market Update: July 2009

Just 264 homes sold in Elk Grove this July as compared with 333 last July. That’s an inventory drop of almost 21% year over year. Foreclosures themselves fell by 45.4% in sales, a number yet to be beaten by any other area in Sacramento county. Elk Grove sales were fueled by foreclosure sales a year ago and now we’ll have to see if short sales do the same for it. Short sale inventory currently hovers around 14.8 months so there might be more pain to come. Year over year short sales have gained 46% and non-distressed 62.2%.

Average sold price per square foot is at $115.55 currently, a fall of 11.2% year over year. Average sales price is $244,430 – a drop of 9.6% for the same period. Median sales price for a home in Elk Grove is now $229,500. And if you think people are turning away from McMansions as they are usually referred to, think again. The average home sold in Elk Grove continues to be over 2000 square feet. In fact, this July the average home sold was 2% bigger than last year.

Inventory is at 3.2 months based on the last year of sales and 3.3 months based on the last six months of sales. Foreclosure inventory is at 0.5 months and 0.6 months respectively.

Folsom Real Estate Market Update: July 2009

A total of 76 homes sold in the Folsom area of Sacramento county in July. Not a terrific showing as unit volume fell by 13.6% year over year. Foreclosures gained however: a total of 25 foreclosed homes sold this July over just 16 last July, an overall increase of 56.3% year over year. Short sales – on the other hand – as well as non-distressed homes fell 22.2% and 30.2% respectively year over year.

Average sold price per square foot has not changed much since last month. It is currently $176.48 down 13.5% year over year from a high of $203.97. Average sales price is currently $365,587 down 16.6% from $438,247. Median sales price is $355,500. Interestingly enough, the average home sold this July was also 3.6% smaller than the average home sold last July, so the more accurate measure here is the average price per square foot.

Inventory in Folsom is at 5.5 months based on the last 12 months of sales and 5.1 months based on the last 6 months of sales. Foreclosure inventory is at 1.2 months no matter how you look at it.

El Dorado County Real Estate Market Update: July 2009

Whereas Sacramento county has (almost) exhausted its supply of foreclosure inventory, El Dorado county on the other hand seems to be just beginning to turn into a foreclosure market. It has taken a while for homebuyers to turn their attention to the REOs but it seems like they may finally be taking notice.

A total of 187 homes sold in the El Dorado county area this month of which 69 were foreclosures. Foreclosure sales have gained 64.3% year over year! Short sales gained also at 188.9% and non-distressed sales gained 18% for the same period. Overall, unit volume has gone up 45% in this part of California.

Sold price per square foot however has fallen again as always happens when there is a big surge in foreclosure purchases. Average sold price per square foot currently rests at $153.88 – that’s a 19.4% drop year over year. Average sale price is currently $358,725, which implies a 16.7% fall for the same period. Median sales price in El Dorado county is $337,750 for the month of July, a fall from last July of 10.6%.

Inventory, even with all the homebuyer interest, is at 10.1 months based on the last year of sales and 9.7 months based on the last 6 months of sales. Foreclosure inventory is at 2.1 months and 2 months respectively.

Sacramento County Real Estate Market Update: July 2009

After the hot foreclosure market of last year, this summer seems – in comparison – quiet and lackadaisical. A total of 1883 homes sold this July, a number close to the June homes sold. 50% of these sales are still REOs; however, the change is remarkable. Foreclosures have fallen 36.4% year over year. Short sales have gained ground by 75.6% and non-distressed sales by 30% but even that surge is not enough to make up for the unit volume shortfall of 12.5% year over year.

Sold price per square foot remained around the $120 mark where it was in June giving evidence to the argument that the market may have bottomed out after all. Currently average sold price per square foot is at $120.93. Average sales price has fallen 14% year over year from a high of $228,312 to rest at $196,323. Median sales price is currently at $175,000.

Inventory also continues to hover around the 3 month mark. Total inventory is at 3.3 months based on the last year of sales and 3.4 months based on the last six months of sales. Foreclosure inventory is at 0.5 months and 0.6 months respectively.

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Greenhaven (Pocket Area) Real Estate Market Update: June 2009

The real estate market in Greenhaven or the “Pocket Area” as it is fondly called has all but come to a halt. Even though unit volume has only fallen by 11.4% which is much less significant a number than other communities in Sacramento county, Greenhaven sees a drop in all categories we have been following. Foreclosure sales fell 10% and short sales also fell, but a much larger 50% over last June. Non-distressed sales reported no gain or loss in terms of sales numbers. They continue to inch upward however and now make up 61.3% of the sales pie as compared with 54% last June.

Average price per square foot in this 95831 area is now $165.88 down 10.7% from last June’s price of $185.82. Average sales price is at $289,644 down 18.4% from $355,027 year over year. Median sales price in Greenhaven currently rests at $272,000 also 18.8% lower year over year.

Inventory is at 4.9 months based on the last year of sales and 5.5 months based on the last six months of sales. Foreclosure inventory is at a little more than a month.

Rosemont Real Estate Market Update: June 2009

When foreclosures dry up, homebuyers’ interests are peeked by short sales and finally non-distressed sales. Since the entire real estate market is depressed anyway, there are some bargains to be found in non-distressed sales as well. And that’s exactly what has happened with Rosemont. The 95826 area has suffered a 20% decline in unit volume year over year but that’s largely due to foreclosure sales falling 48.8% year over year. Short sales gained 100% and non-distressed also gained 10.5% for the same period. 52 homes sold in all.

Average price per square foot is now $119.19 down 14.6% year over year from $139.62. Average sales price fell 16.7% below last June’s price of $197,066. It is currently $164,227. Median sales price is at $171,050.

Inventory is at 2.5 months based on the last year of sales and 2.8 months based on the last six months of sales. Foreclosure inventory is at 0.5 months and 0.6 months respectively.

Natomas Real Estate Market Update: June 2009

With a renewed interest in short sales in Natomas, sales are beginning to slow in the foreclosure and non-distressed sectors of real estate sales. A total of 161 homes sold in the area this month of which 105 were foreclosure sales, 24 were short sales and 32 were non-distressed sales. Which means foreclosures have tumbled 28% and non-distressed 22% while short sales have gained 50% in sales year over year.

Average sold price per square foot currently rests at $112.14 down 17% year over year from $134.97. Average sales price has followed the same curve and is now at $204,195 down 18.7% year over year. Median sales price rests at $200,000.

Inventory in Natomas is at 3.3 months based on the last 12 months of sales and 3.5 months based on the last 6 months of sales. Foreclosure inventory has dipped significantly and is currently at 0.5 months and 0.6 months respectively.

Land Park Real Estate Market Update: June 2009

Land Park looks like a normal healthy real estate market this month and the price gains from month to month have been pretty impressive. Even sales of homes have not suffered as a result. 22 homes sold this month in Land Park of which 18 were non-distressed sales, 3 were foreclosures and 1 was a short sale. Unit volume is up year over year by 46.7% while foreclosures are down 25% for the same period. Non-distressed sales gained a huge 63.6% over last June.

The price per square foot has recovered from last month: it is now $260.57 but has not yet reached the heights of last June when it was $305.89. That’s a 14.8% decline in value. Meanwhile homebuyers afforded themselves 9% bigger homes on average than last June. Average sales price is now 7.5% under last June’s high of $395,093. It is currently $365,514. Median sales price is 5% higher than last year at $367,500.

Inventory is at 4.7 months based on the last 12 months of sales and 4.8 months based on the last 6 months of sales.

Florin Real Estate Market Update: June 2009

Here’s a trend I am beginning to see: as soon as foreclosure inventory hits the half month mark or so, unit volume begins to fall. I’ve been seeing it all over Sacramento county local markets and Florin is no exception. A total of 138 homes sold this month of which more than 80% were distress sales. But foreclosure sales still fell by 21.4%. Short sales on the other hand gained ground by 83.3% year over year. Non-distressed sales were also up by 20% for the same period.

Average price per square foot is currently $102.28 – that’s a decline of 20.2% year over year from a high of $128.24. The average home sold was also interestingly enough 8% smaller year over year. Average sales price currently sits at $164,616 from a high of $224,126 – a drop of 26.6% year over year. Median price rests at $150,000.

Overall inventory in Florin is at 2.5 months based on the last year of sales and 2.7 months based on the last six months of sales. Foreclosure inventory is at 0.4 months and 0.5 months respectively.

Fruitridge Real Estate Market Update: June 2009

For the first time this year, real estate sales in the Elder Creek and Fruitridge areas were down year over year. Unit volume is currently down 15.6%. It comes as no surprise when we see foreclosure inventory beginning to dry up. It was down 17.1% year over year while non-distressed sales are also down 33.3% for the same period. Only short sales have gained 200% year over year.

A total of 76 homes sold in the area of which 58 (or 76.3% of all sales) were foreclosed properties, 6 were short sales (7.9% of all sales) and 12 were non-distressed properties (15.8% of all sales.)

Average price per square foot is at an unbelievable $70.64, a drop of 35% year over year. Average sales price is $82,677, also a big fall from last June’s average sales price of $125,967. Median sales price currently sits at $72,500.

Inventory is at 2.2 months based on the last year of sales and 2.3 months based on the last six months of sales. Foreclosure inventory is at 0.3 months.

Downtown Sacramento Real Estate Market: June 2009

Downtown Sacramento is a market unto its own and even though we follow it every month, it’s hard to track a trend because the amount of data is so small. Every little change seems magnified as a result. Nonetheless, here are the details.

A total of 14 homes sold this June as homebuyers showed some renewed interest. Foreclosures were the hardest hit in terms of sales however – just 1 REO sold this June as compared with 6 last June, a year over year drop of 83.3%. 2 short sales sold this month as well along with 11 non-distressed properties. Unit volume was down 30% year over year.

Average price per square foot currently stands at $272.48 which is 14.6% under last June’s $319.09. Average sales price actually shows a positive jump of 4.5% going from $383,732 last June to $401,089 this June. However, we can safely call that an anomaly since the average home sold was also 22.4% bigger! Median sales price is $384,500.

Inventory is at 8 months based on the last year of sales and 9.5 months based on the last six months of sales. Foreclosure inventory is at 1.6 months and 1.8 months respectively.

Arden-Arcade Real Estate Market Update: June 2009

Sales are now neatly balanced between distressed and non-distressed sales in the Arden-Arcade area. A total of 96 homes sold in the area of which 34 were foreclosures, 13 were short sales and 49 were non-distressed sales. Year over year, this represents a drop of 33.3% in foreclosure sales and 2% in non-distressed sales. Short sales on the other hand gained 225% year over year. Overall unit volume is down 8.6%.

Average sold price per square foot fell again since last month, unlike elsewhere in Sacramento county where we have seen it rise. It is currently $160.47 down 18% year over year from a high of $195.77. Average sales price peaked this month at $240,974 – down 16.2% from last June’s high of $287,475. Median sales price shows a 1% increase year over year from $200,000 to $201,920.

Inventory is at 5.2 months based on the last 12 months of sales and 5.5 months based on the last 6 months of sales. Foreclosure inventory is at 1.1 months and 1.2 months respectively.