Sacramento Real Estate Blog

A total of 99 homes sold this March in the area of Elder Creek and Fruitridge for a total unit volume increase year over year of 86.8%. Foreclosures alone have jumped in sales by 131% and short sales by 250% while non-distressed sales have dropped by 40%. Of the 99 sold homes, 83 were foreclosure sales, 7 were short sales and 9 were non-distressed homes.

90% of all homes that sell are now distress sales with only 9.1% being non-distressed. Foreclosure sales take the major chunk of the sales pie at 83.8% of sales and short sales are the remaining 7.1%. We are beginning to see a marked increase in short sales.

Average price per square foot is now at $68.87 down 41% from $116.55 year over year. The average sales price is $79,254 down 42.2% from $137,187 for the same period. Median price is currently at $58,000.

Inventory is at 2.9 months based on the last year of sales and 2.6 months based on the last six months of sales.