Sacramento County Real Estate Update: July 2010
If you’re not really interested in real estate and market updates right now, you are in the majority. Definitely a large number of people have lost interest in real estate, including, it seems homebuyers.
Overall unit volume dropped 23.9% year over year in Sacramento county. 1433 homes sold this July over 1883 last July. Foreclosure sales fell 40.4% while non-distressed sales dropped 15.3% for the same period. Short sales on the other hand rose 10% year over year, but not enough to make up for the downward push on home sales.
Prices seem to have stabilized - at least for now. Average sold price per square foot is now $122.47, which is 1.3% higher than it was last July when it was $120.93. Average sales price rose 4.4% in Sacramento county up from $196,323 to rest at $204,995. Median sales price remained unchanged year over year at $175,000.
Inventory in Sacramento county is currently at 4.5 months. Foreclosure inventory is at 1.4 months.
