Sacramento Real Estate Blog

Sacramento’s Pocket Area (95831) has held its value better than the Sacramento County average, with fewer foreclosures.  That said, the area has still declined in value in the 2007-2008 period.

In July, the average home sold in the Pocket area for $388,500, up 4.5% from last year’s average sale price of $371,716.  This increase reflected a larger average sized home, however, so the net result in terms of price per square foot was a decline of 16.9% over the same period, from an average of $231.25 in July of 2007 to $192.13 in July of 2008.

Short sales and foreclosures together make up only about enough inventory for 1.5 months of sales in the Pocket area.  Overall, there are only 3.3 months of inventory in this area.

Non-distressed sales accounted for 65.5% of all the sales in July, with the one closed short sale accounting for a measly 3.4% of the 29 total units that sold, and foreclosures making up the remaining 31%.