Sacramento Real Estate Blog

If Downtown Sacramento breaks is the exception that proves the rule about falling prices and increasing demand, then Antelope is one of many areas we can point to and say, "See, THAT’s the rule I meant!"

Homes in Antelope lost 21.5% of their (sold price per square foot) value from July of 2007 to July of 2008, with the average home fetching $175.99 per square foot last year and $138.07 per square foot this year.  With more demand for the smaller homes (no doubt a reflection of having more smaller sized homes in foreclosure), average sale price fell more dramatically, 35.3%, from $343,354 in July of 2007 to $222,219 in July of 2008.

Driving the declines were above average sales of foreclosures, with short sales and foreclosures accounting for 85.4% of all sales in Antelope, versus "only" 30% in July of 2007.  Buyers grabbing these opportunities in huge numbers, inflating unit sales 122.5% over last year, with 40 units selling in July of 2007 and 89 units selling in July of 2008.  As a result, currently there are only about 4-5 months of inventory in in Antelope