Florin Real Estate Market Update: September 2009
We are beginning to see inventory dwindle but not as fast as some of us would like. And with foreclosure inventory at less than a month consistently, homebuyers everywhere are beginning to take more of an interest in short sales and non-distressed property. The real estate market needs this, of course, to recover. But short sales have 16.4 months of inventory in Florin based on the last year of sales and 14 months based on the last six months, so if anything is still going to be dragging down the market, it’s this!
Unit volume fell 31% year over year in sales from 169 homes sold to 117 homes. Perhaps the biggest gain was non-distressed property that rose 141.7% in sales year over year! Short sales also have gained in sales - 64.3% year over year. Foreclosure sales fell by 54.5% which comes as no surprise.
Sold price per square foot is now $100.87 in Florin, down 11.3% from a high of $113.72 from a year ago. Average sales price is at $165,199 down 8.8% from $181,084 a year ago. Median sales price is currently $150,000.
