Rosemont Real Estate Market Update: June 2010
62 homes sold in the area of Rosemont this past month, an overall unit volume increase of 19.2% year over year. Unlike elsewhere in Sacramento county where foreclosure sales have been falling, Rosemont shows an increase in foreclosure sales year over year - an increase of 38.1% to be exact. Short sales remained largely unchanged year over year as well as non-distressed sales. Roughly 1 out of every 3 homes sold is a non-distressed sale.
Average price per square foot increased by 1% year over year, another indicator that the real estate market might finally be leveling off. Average price per square foot is currently $120.42 up from $119.19 last June. Average sales price rose 3% for the same period from $164,227 last June to rest at $169,101. Median sales price dropped a little - 3.5% from $171,050 to $165,000.
Inventory in Rosemont is currently at 5.5 months (based on the last year of sales). Foreclosure inventory is currently at 3.1 months while short sale inventory remains high at 14.3 months. Nondistressed inventory is at 3.3 months.
