30 homes sold in the area of Foothill Farms this month, an overall unit volume decrease of 16.7% year over year. Foreclosures have been drying up for a while and we are beginning to see the green shoots of a possible recovery, at least locally. Although 14 of the sold homes were still foreclosures, 8 non-distressed homes also sold as compared with none last February. Short sales also gained ground with 8 closed escrows as compared with 2 last February.

Average price per square foot is now $97.86 which is 10.1% higher than it was a year ago from $88.85. Average sales price in Foothill Farms is now $117,088 which is 16.4% higher year over year. Last February it was $100,601. Median sales price currently rests at $124,250.

Inventory in Foothill Farms is at 4.1 months based on the last year of sales and 4.4 months based on the last six months of sales. Foreclosure inventory is around 1.5 months. Short sale inventory still hovers around a year.

With foreclosure sales drying up many homebuyers have begun to consider other areas of real estate that still offer discounts like short sales and some non-distressed property, but that doesn’t seem to be the case in Foothill Farms. Just 41 homes sold in the area, which is a unit volume decline of 34% year over year. Last September, 62 homes had sold. Foreclosure sales by themselves fell by 54% without any corresponding rise in short sales (that went from 5 sales to 8 sales) and non-distressed homes (that went from 7 to 10). Even so, now non-distressed home sales to distressed home sales are at a ratio of 1:4 as compared with 1:10 from a year ago.

Average price per square foot is now hovering around the $100 mark at $102.84, down 13.1% from a year ago when it was $118.30. Average sales price is at $124,676 down 13% as well from a high of $143,339 from a year ago. Median sales price is now $126,000.

Inventory is at 2.3 months based on the last year of sales and 2.5 months based on the last six months of sales.

A total of 42 homes sold in the Foothill Farms area of Sacramento county this May. And a closer look at the numbers reveals that this May has not been much different from last May when 41 homes sold in all. Perhaps the only difference is that foreclosure sales fell by about 12% and short sales doubled. So even though the total ratio of distressed to non-distressed sales remains at approximately 9:1, homebuyers have shifted their attention from foreclosures to short sales.

Prices haven’t fared any better, either. Average price per square foot is currently at $99.63 which is 21% lower year over year from $126.06. Average sales price has also tumbled 20.7% for the same period. It is currently at $118,531 from a high of $118,531 a year ago. The median sale price is at $130,000.

Inventory in Foothill Farms is at 2.8 months based on the last twelve months of sales and 3.2 months based on the last six months of sales. Foreclosure inventory is at 0.5 months and 0.6 months respectively.