Gold River Real Estate
Gold River, California is an upscale neighborhood / subdivision in Rancho Cordova (95670). Wikipedia says it’s often “mistakenly” considered part of Rancho Cordova, but given that the County of Sacramento doesn’t list it as a separate community, I think I’ll have to defer to the county on this one. (Someone let Andrew Keen know that Wikipedia was wrong again.)
Gold River real estate provides another excellent example and case study of the fact that real estate is a highly local phenomenon, since many of its numbers are atypical for Sacramento County.
For example, recently I reported that overall in Sacramento County in October, just over one third of the homes that sold were bank owned. In Gold River, in contrast, none of the homes sold in October were bank owned. In fact, no foreclosures have sold all year in Gold River, or last year either. However there are two foreclosures currently in inventory — this is 5% of the inventory, compared to approximately 20% of the active inventory county-wide.
No doubt in part because sellers don’t have to compete with banks, Gold River has kept its value fairly well during 2007. In the first ten months of 2007, seventy-one units sold in Gold River, down only 6.6% from the first ten months of 2006. Gold River homes lost only 6.6% of their value (sold price per square foot). The median sale price in Gold River dropped from $537,500 in Jan-Oct 2006, to $499,000 during the same period in 2007, a decrease of 7.2%. The average selling price fell 4.4%, from $545,041 in 2006 to $521,156. Unlike the rest of the county, where the average discount from the list price is approximately 4%, the average discount from list price in Gold River was only 2.4%.
Compared to the rest of Sacramento county, Gold River is getting through the downturn in the market rather well.
Here are currently available Gold River homes. If you have any questions about these listings, let us know!
