Sacramento Real Estate Blog

In August we noted looked at South Land Park / Greenhaven real estate market and declared this market still fairly strong — that opinion is unchanged based on September’s numbers. In September of 2005, 43 residential units were sold at an average price of $500,111, or 99.6% of the average list price of $502,117. Unit volume was down somewhat from September of 2004′s 57 units, and days on market were up but not alarming so — 24 days this year on average versus 20 days last year.

As in so many other areas we’ve looked at, the overall higher square footage this year means we have to adjust our raw appreciation numbers. On the face of it, homes are worth 38.8% more in Land Park this September than last, but because last year’s home was only — on average, again — 84% as big as this year’s, a more realistic, adjusted number for appreciation is 16.5% from September to September.

Overall, real estate in Land Park is still selling well. The market is cooler than last year, but not alarmingly so.