Sacramento Real Estate Blog

The Pocket Area (zip code 95831) in Sacramento, also called Greenhaven is managing to hold its own against the tide of foreclosures. We have yet to see how this will carry out into 2009, but it seemed like almost all of 2008, it has managed to keep its head above the water. December was less than great for the area, but unlike other parts of Sacramento county, Greenhaven still showed an increase in its non-distressed sales year over year, albeit by a small number - 17%. Foreclosure sales showed a 100% increase year over year and 1 short sale also sold in the month of December. Unit volume is still up 40% year over year. So a mixture of good and bad news.

The bad news, of course, is on the price front. Sold price per square foot has fallen 11.6% year over year from $192.44 last December to $170.20 this year. The average sale price as dropped $388,800 to $306,362 for the same period - a drop of 21.2%. However, sold price per square foot is a more accurante measure considering the average home sold was also 11% smaller than last year. Median sale price is 19% lower year over year. It fell from $370,000 to rest at $300,000.

Inventory is at 3.6 months based on the last 12 months of sales and 3.8 months based on the last 6 months of sales.