Citrus Heights Real Estate Market Update: October 2009
98 homes sold in the area of Citrus Heights in the month of October signifying an overall unit volume drop of 17.6% year over year. Foreclosure sales by themselves dropped 52.4% for the same period while short sales rose 71.4% along with non-distressed sales which rose 62%. The total area taken up non-distressed sales has now gone from 17.6% to 34.7% year over year. 1 out of 3 homes sold are now non-distressed up from less than 2 out of 5 a year ago.
Average price per square foot is now $119.68 down 10.6% year over year from a high of $133.88. Average sales price is now $176,141 also down 10% from last October’s high of $195,709. Median sales price is $175,000.
Inventory in Citrus Heights is at 2 months based on the last twelve months of sales and 1.8 months based on the last six months of sales. Foreclosure inventory is at 0.5 months no matter how you look at it. Citrus Heights seems to also be absorbing its short sale inventory, albeit slowly. Based on the last year of sales, short sale inventory is at 7.2 months and based on the last six months of sales, it is at 5.6 months.
