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.

Unit volume in the Florin area is down by 24% year over year and yet 127 homes sold this month. The slowdown has been mainly foreclosure sales like elsewhere in Sacramento county. REOs fell by 39.6% year over year. Or to put another way, just 81 foreclosures sold this month as compared with 134 last July. 20 short sales and 26 non-distressed homes also closed escrow. That’s an overall jump of 54% for short sales and 30% for non-distressed property. Distress sales are now 80% of all real estate sales as compared with 88% of all sales last July.

We have yet to see any of this bring price increases, however. Average price per square foot is currently hovering around the $100 mark at $99.36 – that’s a drop of 17% year over year. Average sales price fell 13.2% for the same period to rest at $166,680 from a high of $192,021 from a year ago. Median sales price is currently $155,000.

Florin has an active inventory os 2.7 months based on the last year of sales and 2.8 months based on the last six months of sales. Foreclosure inventory is at 0.4 months.

Here’s a trend I am beginning to see: as soon as foreclosure inventory hits the half month mark or so, unit volume begins to fall. I’ve been seeing it all over Sacramento county local markets and Florin is no exception. A total of 138 homes sold this month of which more than 80% were distress sales. But foreclosure sales still fell by 21.4%. Short sales on the other hand gained ground by 83.3% year over year. Non-distressed sales were also up by 20% for the same period.

Average price per square foot is currently $102.28 – that’s a decline of 20.2% year over year from a high of $128.24. The average home sold was also interestingly enough 8% smaller year over year. Average sales price currently sits at $164,616 from a high of $224,126 – a drop of 26.6% year over year. Median price rests at $150,000.

Overall inventory in Florin is at 2.5 months based on the last year of sales and 2.7 months based on the last six months of sales. Foreclosure inventory is at 0.4 months and 0.5 months respectively.

… And the sales continue! Florin must be our most dependable area for real estate sales, beating even Elder Creek and Fruitridge! 132 homes sold in the area this May, incidentally the same as last May! The difference is that 14.3% less foreclosure sales closed escrow and 143% more short sales did! Non-distressed sales are also up by about 46.2%. An indication that price increases are to follow? Maybe.

For now however, prices are still falling albeit at a slower pace. The current sold price per square foot is at $100.60 – 19.6% less than last May. The average sales price is now $163,166 also 15.7% lower year over year. Median sales price is $148,500.

Inventory in Florin is at 2.6 months whether you consider the last 12 months or the last 6 months as an average, pointing to the stability of sales in this market. Foreclosure inventory is at 0.4 months and 0.5 months respectively.

If you want to see a hot sales market for real estate, look no further than Florin. We have a 364.5% unit volume increase year over year, the famous “Florin Maul” John referred to a while ago. Well, it doesn’t seem like the maul is over yet. Someone buying Florin homes as Christmas gifts? There has been a 521% increase in foreclosures sold over last November. Yes, you read that right. It isn’t a typo. 118 foreclosures and 14 short sales sold in Florin over the month of November. Compare that with just 12 non-distressed homes sold – the same number by the way – as last November.

Any surprise that prices are lower? Sold price per square foot has fallen 30.1% from $153.68 last November to $107.36. Average sales price has fallen 32.4% – from $269,932 to $182,420 for the same period. Median sales price has also fallen 37.3% from $255,000 to $159,975 year over year.

To get another idea of how fast homes are selling in Florin, here’s another nugget: there are 190 foreclosures on the market and they only make up 1.4 months of inventory! As for the rest, we are currently at 4.8 months of inventory (based on the last 12 months of sales) and 3.6 months based on the last 6 months of real estate sales.