Sacramento’s Pocket Area Real Estate Market

Posted by John Lockwood on July 31st, 2008

June was a good month for Sacramento’s Pocket Area (95831), with a combination of strong sales volume and low inventory.  Of course there’s the usual background of a declining market to talk about, but the Pocket’s June numbers compare favorably with the county as a whole.

In June, the average home sold in the Pocket area for $355,027, down 8.8% from last year’s average of $389,110.  Sold price per square foot fell more sharply, down 16.3% from last year’s $221.95, to an average of $185.82 per square foot this year.  Some 54.3% of all sales in the Pocket area were non-distressed in June, compared to 25% for the county at large.

Even though the Pocket area has held its value well from June to June, it still posted a respectable 59.1% increase in sales volume from year to year.  Of course, the Pocket area is not all that huge, so statistical significance is low.

The other good news for the Pocket area is that there are only 3.9 months of non-distressed inventory, and only 3.7 months of inventory overall.

The tables below give more information on the Pocket area.

Unit Volume Data

Units Sold June, 2007 June, 2008 Change
Foreclosures Sold 1 10 900.0%
(% of total units) 4.5% 28.6%  
Short Sales Sold 0 6 N/A
(% of total units) 0.0% 17.1%  
Non-distressed Sold 21 19 -9.5%
(% of total units) 95.5% 54.3%  
Total 22 35 59.1%

Price Data

Prices June, 2007 June, 2008 Change
Sold Price / Square Foot $221.95 $185.82 -16.3%
Average List Price $396,683 $367,621 -7.3%
Average Sale Price $389,110 $355,027 -8.8%

Inventory (Based on 12 months of prior sales)

Sale Type Average Sales Per Month Active Months of Inventory
All Sales 23 95 4.0
Foreclosures 5 14 2.8
Short Sales 1 19 16.3
Nondistressed 17 62 3.6

Inventory (Based on 6 months of prior sales)

Sale Type Average Sales Per Month Active Months of Inventory
All Sales 25 95 3.7
Foreclosures 7 14 1.8
Short Sales 2 19 9.5
Nondistressed 16 62 3.9