Sacramento Real Estate Blog

The total number of homes is mostly unchanged year over year for Carmichael, although the real estate landscape has changed a little. Foreclosure sales for instance have fallen 44% for the same period. Short sales have not changed at all - 9 seems to be the magic number for October sales last year as well as this one. The biggest change seems to be in non-distressed property sales: 32 homes sold this October, a 45.5% increase over last October’s sales.

The ratio of distressed to non-distressed property sales is now almost 2:3, as compared with 3:2 last October. A good reversal for those of us hoping for price increases and a return to normalcy in the Sacramento real estate marketplace soon.

Average price per square foot for now remains depressed at $161.51 which is 10% under last October’s $179.19. Average sales price is now $249,022 down 24.8% year over year from a high of $331,229. Median sales price is now $220,000. But take the average sales price with a grain of salt because the average home sold was also 16.6% smaller than a year ago.

Inventory is at 6.1 months based on the last year of sales and 5.4 months based on the last six months of sales.