East Sacramento Real Estate Market Update: July 2010
More price stability but lesser people shopping for a home. As elsewhere in Sacramento county, the same mantra is true for East Sacramento as well. Just 30 homes sold in the East Sac area, an overall unit volume decrease of 34.8% year over year. The most marked change was in the category of foreclosure sales which fell by 50% year over year followed by non-distressed sales which fell 36.4% for the same period. Short sales remained fairly stable.
Not only were home buyers not looking a lot, the closed escrows seem to suggest that they were also interested in smaller homes. The average home sold in East Sacramento was 11.1% smaller this July than last July. This fact is reflected in the average sales price which fell 7.8% year over year from a high of $290,946 to rest at $268,335. The more accurate figure is the average price per square foot which rose 3.8% year over year from $212.07 to $220.07. Median sales price fell 2.7% for the same period. It is currently $253,000.
East Sacramento is just shy of 6 months of real estate inventory.
