Sacramento Real Estate Blog

If you want to see a hot sales market for real estate, look no further than Florin. We have a 364.5% unit volume increase year over year, the famous “Florin Maul” John referred to a while ago. Well, it doesn’t seem like the maul is over yet. Someone buying Florin homes as Christmas gifts? There has been a 521% increase in foreclosures sold over last November. Yes, you read that right. It isn’t a typo. 118 foreclosures and 14 short sales sold in Florin over the month of November. Compare that with just 12 non-distressed homes sold - the same number by the way - as last November.

Any surprise that prices are lower? Sold price per square foot has fallen 30.1% from $153.68 last November to $107.36. Average sales price has fallen 32.4% - from $269,932 to $182,420 for the same period. Median sales price has also fallen 37.3% from $255,000 to $159,975 year over year.

To get another idea of how fast homes are selling in Florin, here’s another nugget: there are 190 foreclosures on the market and they only make up 1.4 months of inventory! As for the rest, we are currently at 4.8 months of inventory (based on the last 12 months of sales) and 3.6 months based on the last 6 months of real estate sales.