Orangevale Real Estate Market
The average home sold in Orangevale in August for $296,325, down 20.9% from last year’s average price of $374,508. Sold price per square foot was down 16.6%, from $214.62 in August of 2007 to $178.93 in August of 2008. Meantime, the median price fell 25.4% during the same period, from $340,000 in August of 2007 to $235,500 in August of 2008.
Foreclosures and short sales made up about one third of all sales in August of 2007 in Orangevale. In 2008, that number had increase to about two thirds. This August, demand for homes in Orangevale has been strong, with 87% more unit volume than at the same time last year. Forty-three homes sold in Orangevale in August of 2008 versus twenty-three a year ago.
There are 6.2 months of inventory in Orangevale, about half of which are short sales and foreclosures collectively.
