Citrus Heights Real Estate Market Update: April 2009
As we have seen elsewhere, as soon as the foreclosure inventory begins to show signs of bottoming out, so do home sales in many areas. Citrus Heights is no exception to the rule. A total of 87 homes sold in the month of April and overall unit volume suffered 16.3% year over year. Foreclosure sales themselves are down 10% year over year, while short sales have gained 275% for the same period. Non-distressed sales are also down 52.4% for the same period.
Average price per square foot is now $119.86. That’s a 19.4% drop from last April’s high of $148.77. The average sales price in April is $175,550 which is 15.7% lower than a year ago. Median sales price is down 17.5% for the same period. It is currently $170,000 down from $206,000.
Inventory in Citrus Heights is at 3.3 months based on the last 12 months of sales and 3.7 months based on the last 6 months of sales. Foreclosure inventory is at 0.6 months and 0.7 months respectively.
