Greenhaven Real Estate Market Update: February 2009
Sales are beginning to slow in the Pocket Area of Sacramento also known as Greenhaven. This is the 95831 zip code that has been relatively stable in the midst of foreclosures and dropping prices elsewhere in Sacramento county. For the longest time, it looked like Greenhaven could be amongst the first to recover. If so, February has been a pretty bad month.
A total of 13 homes sold in February - 5 foreclosure sales and 8 non-distressed homes - a unit volume decrease by 28% year over year. No short sales sold this month and Greenhaven has a pretty number of short sales: 32 to be exact.
Price data hasn’t changed much over the last month. Average sold price per square foot is $166.37 - a drop of 7.3% year over year. Average sales price is $319,900. That is also a drop of 4.6% year over year from a high of $335,333. Median sales price however is up 1.2% year over year! It is currently at $324,000 from $320,000.
Inventory is at 4.4 months based on the last year of sales and 5.4 months based on the last six months of sales, pointing to the slowing sales in the market.
