Citrus Heights Real Estate
In May of 2008, the average home sold in Citrus Heights for $202,869, down 30.3% from May of 2007’s average selling price of $290,931. Sold price per square foot fell somewhat less sharply, 25.3%, from $204.81 in May of 2007 to $153.01 in May of 2008.
With average prices poised to drop below $200,000 (though remember this is for all residential units — including condos), Citrus Heights has seen a good resurgence in demand from year to year. This year’s unit sales volume of 92 homes is up 42.6% over last year’s volume of 65 homes. Although Sacramento County overall posted a higher unit volume increase of 74.7%, Citrus Heights boasts a lower inventory, at 6.2 months versus 8.3 for Sacramento County as a whole.
This year, of 92 units sold, short sales made up only 13%, while non-distressed sales accounted for 28.3%, and bank foreclosures accounted for 58.7% of all sales. The chart below shows how that compared to last year:
Citrus Heights Residential Real Estate Unit Volume
| Units Sold | May, 2007 | May, 2008 | Change | |
| Foreclosures Sold | 21 | 54 | 157.14% | |
| (% of total units) | 32.31% | 58.70% | ||
| Short Sales Sold | 3 | 12 | 300.00% | |
| (% of total units) | 4.62% | 13.04% | ||
| Non-distressed Sold | 41 | 26 | -36.59% | |
| (% of total units) | 63.08% | 28.26% | ||
| Total | 65 | 92 | 41.54% | |
