Fair Oaks Real Estate
Fair Oaks continued to enjoy strong demand in August, yet with homeowners losing less of the value of their homes than in other areas of Sacramento County. Fifty-four homes sold in Fair Oaks in August, besting last August’s volume of forty-one units by 31.7%. Bank foreclosures and short sales made up 59.3% of all sales in August, and comprise 41% of active inventory.
The average home that sold in Fair Oaks in August was 1831 square feet in size, and sold for $333,816. This sale price is down 12.2% from last year’s average of $380,000. Sold price per square foot fell 16.5% from August to August, from $218.27 in August of 2007 to $182.30 in August of 2008. The median selling price in Fair Oaks fell 12.6% from year to year, from $334,000 in August of 2007 to $292,000 in August of 2008.
Inventory in Fair Oaks is slightly higher than other areas of Sacramento at 6 months, but is much lower than last year.
