Sacramento Real Estate Blog

Unit volume in the Florin area is down by 24% year over year and yet 127 homes sold this month. The slowdown has been mainly foreclosure sales like elsewhere in Sacramento county. REOs fell by 39.6% year over year. Or to put another way, just 81 foreclosures sold this month as compared with 134 last July. 20 short sales and 26 non-distressed homes also closed escrow. That’s an overall jump of 54% for short sales and 30% for non-distressed property. Distress sales are now 80% of all real estate sales as compared with 88% of all sales last July.

We have yet to see any of this bring price increases, however. Average price per square foot is currently hovering around the $100 mark at $99.36 - that’s a drop of 17% year over year. Average sales price fell 13.2% for the same period to rest at $166,680 from a high of $192,021 from a year ago. Median sales price is currently $155,000.

Florin has an active inventory os 2.7 months based on the last year of sales and 2.8 months based on the last six months of sales. Foreclosure inventory is at 0.4 months.