Sacramento Real Estate Blog

We see the more robust side of the Carmichael real estate market here in July. Sales and prices were both up month to month and sales were a little higher year over year. Unit volume gained by 3.8% in Carmichael in the month of July and with no change year over year coming from the foreclosure market and a decrease in the short sales by 40% the increase in sales was borne purely by the non-distressed sales. We’ll have to see if this trend continues and converts into a recovery.

Sold price per square foot was slightly higher this month, currently $160.38 down 13.5% year over year. Homebuyers also afforded themselves homes bigger by 5.3% in general year over year. Average sales price is at $278,262 down 9% for the same period from a high of $305,353. Median sales price is at $232,050.

Inventory in Carmichael is at 5.9 months based on the last year of sales and 6 months based on the last 6 months of sales. Foreclosure inventory is at 0.9 months.