East Sacramento Real Estate Market Update: June 2010
Homebuyers didn’t seem as interested in buying houses in East Sacramento this month as they usually are. Just 28 homes sold in the entire month of June in the area as compared with 41 a year ago. That’s a unit volume decrease of 31.7% year over year. Foreclosures alone fell 66.7% year over year in sales followed by non-distressed sales which fell 22.2% for the same period. Short sales remained mostly unchanged in number as last June – 3 this June as compared with 2 the last.
Average price per square foot is now $230.61, which is now up 7.1% year over year from $215.40. Homebuyers still preferred houses on average 2.5%. However, average sales price remained above the $300,000 mark at $301,693. That was an overall increase year over year of 4.4% from $289,099. Median sales price is currently $291,000 down 6.1% for the same period from the high of $310,000.
Inventory in East Sacramento is at 5 and a half months. Foreclosure inventory still hovers around 2 months.
