East Sacramento Real Estate Market
Several months ago the East Sacramento (95819) market was holding its own quite nicely compared to the rest of Sacramento County. In April and May, however, East Sac started to take a share in some of the depressing news, with prices falling and inventory rising to almost the six month mark.
The average home sold in East Sac in May for $299.79 per square foot, down 16.3% from last year’s average of $358.29. The average sale price fell less sharply, 6.1%, from $488,908 in May of 2007 to $458,834 in May of 2008.
In both years, total distressed sales (REOs plus short sales) were one sale — less than 10% of the total.
Unit volume is down this year 38.5% in East Sac, from 26 units last May to 16 units in May of 2008. Inventory has been creeping up, but is still fairly low at only 5.8 months.
