Sacramento Real Estate Blog

With prices falling in Carmichael and throughout the rest of Sacramento County, buyers took advantage of bargains this year and generally purchased more homes this year than last.  In Carmichael, volume was up 26.3% over last year, with 48 homes selling in September versus 38 last September.

The average sold price per square foot in Carmichael fell 21.9% from year to year, from $224.79 in September of 2007 to $175.55 in 2008.  This is about $45.00 per square foot more than the county-wide average.  The average home sold for $304,816 in September, down 19.1% from last September’s average of $377,007.  The median home selling price fell 23.1%, from $357,500 in September of 2007 to $275,000 in September of 2008.

37.5% of the sales in Carmichael in September were non-distressed sales.  Another 47.9% were foreclosures, and 14.6% were short sales.  That 14.6% figure is another good example of how the number of short sales getting approved seems to have increased somewhat lately, perhaps as banks begin to get a feel for just how much money they can lose by going all the way to foreclosure.