Sacramento Real Estate Blog

The Carmichael real estate market seems to be on its first steps to recovery although the short sale inventory is a little disturbing to see. Among the more positive indicators are a unit volume increase year over year mainly in the non-distressed properties category: 28 homes sold as compared with just 13 last November amongst the non-distressed group. Short sales gained as well from 1 sale last November to 5 this November. Foreclosure sales were down 28.6% year over year as expected. Unit volume increased overall by 53.6% for the same period.

Average price per square foot increased 1.7% year over year from $169.97 to $172.77 currently. People also bought homes on average 3% bigger this year as compared to a year ago. Average sales price is now $284,066 which is 4.7% higher than it was last November when it was $271,386. Median sales price now rests at $240,000.

Inventory in Carmichael is at 6 months based on the last year of sales and 5.4 months based on the last six months of sales. The dreaded short sale inventory is at 18.8 months and 16.6 months respectively.