Arden-Arcade Real Estate Market Update: February 2010
The Arden-Arcade area of Sacramento seems to be showing signs of stability. Overall sales and prices are almost unchanged year over year, an almost flat line on the graph. 62 homes sold overall this month as compared with 61 last February. That is a 1.6% increase year over year. Foreclosure sales fell 26.7% year over year while non-distressed home sales gained 40%. Short sales were largely unchanged. Almost 1 out of 2 homes sold is now non-distressed, a marked improvement over last February where 1 out of 3 homes sold was non-distressed.
Average price per square foot remains almost unchanged year over year at $137.68 which is a small increase of 0.4%. Average sales price has fallen 4.8% to reach a low of $182,097 down from $191,189 last February. Median sales price rests at $155,300.
Inventory is at 5.8 months based on the last year of sales and 6.1 months based on the last six months of sales. Short sale inventory however is still relatively high at 18.8 months and 17.6 months respectively.
