Sacramento Real Estate Blog

Well, well, well… it’s been a while since we looked at the real estate market in the Greenhaven or Pocket Area as it is sometimes referred to around here. This is the 95831 area code and during the happy real estate times, it was hard to find a house here that stayed on the market longer than a few days without multiple offers. Today the scenario looks quite a bit different but not hopeless.

Volume has not changed much year over year. 32 homes sold this June – almost the same as 31 last June. Foreclosure sales have fallen 33.3% while short sales have increased somewhat. Non-distressed home sales also remained almost the same – a 10.5% increase year over year. 65.6% of all homes sold in the pocket area are now non-distressed sales.

Average price per square foot rose slightly from $165.88 last June to rest at $167.71 this June. Homebuyers however bought homes markedly larger than they did last year. The average square footage of homes sold was 12.6% more year over year. Average sales price rose accordingly from $289,644 to $329,747 – a 13.8% increase. However, the more accurate number in terms of prices is the average sold price per square foot. Median sales price has also risen 11.2% from $272,000 to $302,500.

Inventory in Greenhaven is at 6.3 months.