Sacramento Real Estate Blog

Prices changed very little over the year in Sacramento’s desirable Land Park area, with the sold price per square foot falling only one half of one per cent from August to August.  In August of 2007, twenty-four homes sold at an average of $312.15 per square foot, while this August, 19 homes sold, averaging $310.57 per square foot.  To be sure, this year the average home was  slightly smaller than last year, a fact which pushed the average sale price down 8.8% over the year, from $524,625 in August of 2007 to $478,689.  Similarly, the median sale price fell 10.4%, from $524,500 in August of 2007 to $470,000 in August of 2008.

Foreclosures and short sales make up about 19.7% of available homes at present in Land Park, a number that’s large by 2005 standards but far less than the average in Sacramento County.  In terms of August sales, they accounted for 26.3% of all sales.

One thing we’re seeing in Land Park that’s unusual for Sacramento County is that the average number of sales has actually gone down in recent months, rather than up.  Be that as it may, Land Park still enjoys fairly low inventory at 4.0 months.