Citrus Heights Real Estate Market
As was true of most areas in in Sacramento County, unit sales for Citrus Heights (95610 and 95621) in April showed a considerable improvement over sales last year. 102 units sold in April, a 73% increase over last year’s volume of 59 units. Of course, this upsurge in volume comes as a result of substantial price declines. At $148.61, this April’s average sold price pre square foot is down 28.6% from last year’s average of $208.15. The median price of $207,250 is down 26% from last year’s median of $280,000, and the average price has fallen 28.9%, to $208,495 in April of 2008.
Bank foreclosures accounted for 54.9% of all sales in April, while short sales accounted for only 3.9% of closed sales (even though they make up 46.5% of current inventory). There are currently 7.4 months of inventory in Citrus Heights, with less than two months of REO inventory. The expired to sold ratio is down to a very low 24.5%, compared to 72.9% last year.
