Citrus Heights Real Estate Market Update: June 2009
92 homes sold in the area of Citrus Heights this month, an overall unit volume drop of 23.3% year over year. That’s about 30 homes less than last June. And the biggest drop has been seen in the foreclosure market. Overall drop in sales of 37.5%. Foreclosure sales now make up just 48.9% of the total real estate sales in Citrus Heights while short sales have gained ground. A full 28.3% of all sales now are short sales. The rest 22.8% are non-distressed properties. Non-distressed sales have also fallen year over year however by 25%.
Average sales price per square foot is currently at $121.74 which is 15.4% lower than it was a year ago at a high of $143.87. The average sales price is $171,914, which is 18.8% lower year over year from a high of $211,824. However, keep in kind that the price per square foot is more accurate since the average home sold was also 4% smaller this June than it was last June. Median sales price is currently at $169,500 for Citrus Heights.
Real estate inventory is at 2.1 months based over the last year of sales and 2.2 months over the last six months of sales - an indication that sales have maintained their equilibrium in this area of the county as compared with others in Sacramento. Foreclosure inventory is at 0.4 months and 0.5 months respectively.
