Sacramento Real Estate Blog

As Sacramento home owners wait for a recovery, even a leveling off seems like good news lately. And if you own a home in Carmichael, you should be breathing a sigh of relief. We’re of course not over the real estate slump yet, but there seems to be some sort of end in sight, at least locally. Everything could change if the market does not absorb the short sales currently listed, but at least for now it seems like the long road to recovery has begun, even though it might be uphill.

53 homes sold this last month in Carmichael, almost the same number as last July when 55 homes had sold - that’s a unit volume drop of 3.6% year over year. Foreclosure sales fell 38% while the number of short sales doubled. Non-distressed sales remained almost the same. 64% of all homes sold are now non-distressed as compared with just 56% last year at this time.

Average price per square foot is now $171.24 - an increase year over year of 6.8%. Last July, it was $160.38. Average sales price rose 21.9% year over year - however homebuyers also bought homes on average 14% bigger, so keep in mind that the average price per square foot is the more accurate figure here. Average sales price in Carmichael is currently $339,313. Median sales price rose 14.2% and currently rests at $265,000.

Inventory in Carmichael is currently at 5.1 months.