Sacramento Real Estate Blog

It’s the most wonderful time of the year… well, maybe not so much for real estate sellers. Bargain hunters have been out again, but maybe some have been taking a break with the holidays coming. Unit volume is up 99% over last year, down slightly from the last few months.

Foreclosure sales continue to dominate the real estate scene. 72.5% of all sales were foreclosures and 10.8% short sales. With distress sales making up the major chunk of the Sacramento real estate market, non-distressed home sales have fallen sharply - by about 39.5% over last November. Only 16.7% of the total Sacramento county real estate market is now made up of non-distressed home sales.

Prices have fallen yet again. Average price per square foot recovered slightly last month and this month took another fall. Sacramento county is now at $122.69 a square foot, a drop of 34.3% over last November. The average sale price has fallen 38.9% over last year as well, resting at $196,839 from last year’s high of $322,239. Median price has also fallen for the same period - here we see a fall of 40.3% year over year. Median price last November was $293,000 and is currently $175,000.

Interestingly enough, home buyers also bought homes about 7% smaller than last year. On average the sold homes’ square footage was 1604 as compared with 1725 last November.

Inventory in Sacramento county is at 4.8 months based on the last year of sales and 3.8 months based on the last 6 months of sales.