Citrus Heights Real Estate Market Update: July 2009
When foreclosure inventory dips below 0.5 months, homebuyers turn their attention to short sales. In Citrus Heights, as elsewhere in Sacramento county, this is probably a good thing since based on the last year of sales, there is still 8.5 months of short sale inventory on the market. But more about that later.
A total of 103 homes sold this month in Citrus Heights, a unit volume drop of 10.4% year over year. Foreclosures dropped by 33.7% while short sales gained 300%! Non-distressed property sales also gained by an un-newsworthy 3.7% for the same period.
Average price per square foot is currently $119.23 a fall of 16.6% year over year from a high of $143.00. Average sales price is at $171,161 down 15.9% for the same period from $203,616. Median sales price rests at $165,000.
Inventory in Citrus Heights is at 2 months based on the last 12 months of sales and 2.1 months based on the last 6 months of sales.
