Sacramento Real Estate Blog

Antelope’s real estate market is one where a large number of short sales and foreclosures are driving prices down. Our foreclosure list puts Antelope at number six in our unfortunate hit parade of high foreclosure areas. Between them, short sales and foreclosures make up slightly more than half of the available inventory in Antelope. There are 500 active listings in Antelope at present, of which 103 (20.6%) are bank owned, and 150 (30%) are short sales.

In August, the average home sold in Antelope fetched $302,588, 18.3% less than last year’s average of $370,212. Some of that difference was size related, with this year’s home coming in 5.5% smaller. The average sold price per square foot dropped somewhat less, therefore, 13.5%, from $215.24 last August to $186.09 this August. The median price was down 16.9%, from $361,200 last year to $300,000 this year. Units sold were down from last year’s 62 units to 46 units this year, a 25.8% drop.

Interestingly, though short sales in inventory outnumber bank owned properties, when you look at what sold, the numbers are reversed. Though bank owned properties (REOs) make up 20.6% of the inventory currently, they represent 32.6% of the sales in August. Conversely, short sales make up 30% of active inventory, yet accounted for only 10.9% of the sales in August.

This difference is not surprising given the price discrepancy. Looking at the current list price in Antelope, homes that aren’t short sales or foreclosures average $200.41 per square foot, while short sales are priced 9% less at 182.42 per square foot. REOs are priced even lower, 15.0% less, at $170.43 per square foot. In addition, most agents probably feel that REO sales are a bit less problematic, so to the (limited) extent that buyer choices reflect our opinions, that may have something to do with this as well.

To view current REO properties in Antelope, click here. We do not yet have short sale listings available yet directly on our web site (except mixed in with other listings), however please feel free to contact us if you’re interested in listings from this (or any other) custom search. To view all Antelope listings, click here. We’ll have short sale listings coming soon and will post links when they’re up.