Real Estate Market Update - Sacramento Arden / Arcade Creek Area
Sacramento’s Arden / Arcade Creek area posted deep losses in value from July to July, with only a moderate increase in volume to show for it. This July the average home sold for $234,387, down 45.8% from last year’s average of $432,437. Since this year’s home was substantially smaller than last year, some of that drop is an artifact of smaller homes being sold. On a sold price per square foot basis, Arden Arcade lost 35.4% of it’s value from July to July, starting at $264.50 per square foot last July and coming in at $170.97 this July.
60.4% of the homes that sold in July were foreclosures, while short sales accounted for another 8.8% of sales. Unit volume is up 4.6% from last year in July.
