Sacramento County Real Estate Market Update: December 2009
Home prices are up year over year second month in a row! And look, I wasn’t here to report it on the third of the month, that is, as soon as I found out. But as John eloquently informed you, by copying an announcement from my Facebook page, I had a baby boy last month and am just now getting a handle on work around here. Therefore the long silence. Anyway, let’s back to real estate.
Every category but foreclosure sales gained in sales year over year. That includes short sales and non-distressed property. So the market might be limping toward some sort of a recovery after all. Foreclosure sales fell 54.2% year over year while short sales gained 89.5% and non-distressed homes also gained 62.6% for the same period. Overall unit volume fell by 19.1% with a total of 1548 homes sold in Sacramento county.
Average sold price per square foot is not at $122.94 which is 1.9% higher year over year and average sales price sits at $206,634 which is 7.2% higher than last December’s price of $192,829. Median sales price is now $180,000.
Sacramento county has 3.5 months of inventory based on real estate sales over the last year and 3.7 months of inventory based on sales of the last six months.
