Sacramento Real Estate Blog

If you’re missing a white Christmas in Sacramento, maybe it’s time to head uphill. Here at 4000 feet, there is a lot of snow - and undiscovered real estate - to be found. Pollock Pines seems to be just now getting around to catching up with the rest of the foreclosure markets. It posted a unit volume increase of 57% but that was no thanks to the non-distressed sales. Only 1 non-distressed home sold in November in Pollock Pines. 90% of home sales were foreclosures and short sales.

But the inventory is far from gone: there are currently 29 foreclosures and 14 short sales on the market. With home sales averaging about 10 - 11 a month, we still have overall inventory at 12.6 months (based on the last 12 months of sales) and 11.8 months (based on the last 6 months of sales.) However, foreclosures only make up 6.2 months and 5.8 months of inventory for the same periods.

Of course, the reason foreclosures are such great sales is the price. Sold price per square foot has fallen 32.1% year over year. From its high of $203.87 last November, it now rests at $138.53. The average sales price has fallen 41.5% - from $383,271 to $224,273 for the same period. Median sales price has also fallen 43.2% from $370,000 last November. It is currently $210,000.