Sacramento Real Estate Blog

Real estate sales in Orangevale seem to have picked up over last month as well as year over year. A total of 33 homes sold in Orangevale this month, of which 22 or 66.7% were foreclosure sales, 6 or 18.2% were short sales and 5 or 15.2% were non-distressed sales. Year over year, overall unit volume is up by 37.5% no doubt fueled by foreclosures and low prices. Foreclosure sales are up 57.1% year over year while short sales are up 100%. Non distressed properties are down 28.6% year over year.

When bargains and foreclosures abound, prices always take a hit. Average price per square foot is now $134.43 down 23.8% year over year from a high of $176.32. Average sales price is down 20.7% for the same period from $261,436 to $207,237. The median sales price is down 20% to hit $193,000.

Inventory based on the last 12 months of sales is at 4.8 months and based on the last six months of sales is at 5.6 months. Foreclosure inventory is at 2.2 months.