Sacramento Real Estate Blog

A curious thing is happening all over Sacramento county - homes that are selling are smaller, much smaller and Orangevale is no exception. Homes sold in this November in Orangevale were almost 16% smaller than the houses sold last November. Is this because they are mostly owned by investors? Or are we just beginning to see the culture of downsizing? We’ll have to see.

Meanwhile, non-distressed homes have dropped in sales. 50% less sold this November over the last, while foreclosure sales were up 183%. 76.9% of all home sales in Orangevale are now distress sales. Overall sales are up by 36.8% - no surprise there.

Another statistic which is not a surprise is the decline in prices. While price per square foot has remained almost the same as last month’s $162.84 to rest at $165.97 this month, the average sales price of a home has dropped 34.3% since last November. The number however is still higher than last month’s average sale price of $258,607. It is currently $260,706. The median sale price has dropped 31.8% over last November’s $340,000 to rest at $232,000.

Inventory is at 5.6 months based on the last year of sales and 4.7 months based on the last 6 months of sales.