Sacramento Real Estate Blog

Although foreclosure sales have slowed down in Galt as elsewhere in Sacramento county, they remain the majority of homes sold. 52% of all homes sold in the Galt area are now foreclosures - a better percentage some would argue than a year ago when 3 out of 4 homes sold were foreclosures.

25 homes sold in the area in December - 13 of which were REOs, 8 were short sales and 4 were non-distressed sales. That’s a drop of 43.5% of foreclosure sales, a 60% increase in short sales and a 100% increase in non-distressed sales. Overall unit volume however fell by 16.7% year over year.

Average sold price per square foot is now $109.70 which is 13.6% under last December’s high of $127.01. Average sales price fell by 11.1% year over year from a high of $199,143 to $177,000 today. Median sales price is currently $155,000.

Inventory in Galt is now at 3.4 months based on the last year of sales and 3.9 months based on the last six months of sales. Foreclosure inventory is at 1.2 months and 1.5 months respectively.