Rosemont Market Update: November 2008
Rosemont continues to be a favorite amongst real estate buyers this November as well. This area close to the river and conveniently located close to highway 50 encompasses the 95826 and 95827 zip codes.
For Rosemont, unit sales are up 147.8% higher than they were last year for the same period, with foreclosure sales up 300%. 86% of all homes sold are now distress sales - that is 40 foreclosures and 9 short sales sold in the month of November. Compare that with only 8 non-distressed properties selling this last month.
Sold price per square foot has fallen 27.2% for the same period. The decline has been sharp, from $176.10 to $128.16. Average sales price has also fallen in tandem with the price per square foot: from $241,713 for a home in Rosemont last November to $177,780 this last month. Median sales price also tumbled 30% - from $244,000 to $170,000.
Inventory remains the same as last month: 4 months based on the last year of sales and 3.1 months based on the last six months of real estate sales.
