Most homebuyers will agree that Land Park is a real estate market all unto its own. It does follow the general trend of Sacramento county but it is unique in its reluctance to absorb short sales month after month, year after year. This July, the decline in sales has been quite drastic and not just including short sales.

Real estate property sales dipped 51.9% in Land Park, with foreclosures dropping 75% and non-distressed sales falling 47.8% year over year. No short sales sold, as with last July. Overall, just 13 homes closed escrow – 12 non-distressed and 1 foreclosure sale.

Average sold price per square foot remained amazingly level. Currently $251.39 it fell just 2.3% year over year from a high of $257.41. Homebuyers however picked out bigger homes and bought on average homes 18% larger this July than they had last July. This affected average sales price which rose 15.3% year over year from $384,867 to $443,615. The more accurate figure here is of course the average price per square foot. Median sales price also rose this month, albeit at a smaller percentage of 8.1% from $370,000 to rest at $400,000.

Land Park currently has 8.2 months of inventory based on the last year of sales.

Some interesting changes year over year in the real estate landscape of Land Park – I’m glad I took a peek! 16 homes sold in the neighborhood liked by quite a few homebuyers. This number was 15.8% lower than it was a year ago in May. 3 of these sold homes were foreclosure sales, 2 were short sales and the rest 11 were non-distressed properties.

When dealing with such small numbers of sales, statistics can sometimes seem to jump very high and very low as we see with prices. Average price per square foot is now $274.63 up a whopping 29.8% year over year from a low of $211.64. Homebuyers for some reason also picked up homes 26.3% smaller than a year ago, a glaring difference that makes the average sales price (not based on price per square foot) a little inaccurate. It is now $378,125 down 4.3% year over year from $395,126. Median sales price is now $349,750 down 9.2% for the same period.

Land Park has an overall inventory of 6.2 months based on the last year of sales and 7 months based on the last six months of sales. Foreclosure inventory still hovers around 3 months, one of the largest in Sacramento county.

Most sales in the Land Park area continue to be focused in the non-distressed category of homes, a good sign in this time of turmoil in the real estate market. A total of 18 homes sold this month, an overall unit volume increase of 38.5% year over year. Of these 18, 15 were non-distressed sales and just 1 was a foreclosure while 2 were short sales. This means all the increase in the sales was from the non-distressed sales category, although with the 2 short sales, the statistics show that they doubled from year over year!

Average price per square foot is now $258.99 in Land Park, a 7.9% decline year over year from a high of $281.09 last March. Average sales price fell 3.7% for the same period from $393,931 to rest at $379,400. Median sales price at the same time however increased by almost 10% from $335,000 to $367,500 for the same period.

Inventory in Land Park is at 4.9 months based on the last year of sales and 5.5 months based on the last six months of sales. Foreclosure inventory continues to remain at between 2 and 3.5 months while the same short sale inventory remains steady at 12 homes on the market.

Just 9 homes sold in the Land Park area of Sacramento county this month, an overall unit volume decrease of 35.7% year over year. The majority of homes sold however were non-distressed: 7 non-distressed to be exact for 1 foreclosure and just 1 short sale that closed escrow this month. For an area with already limited real estate sales that Land Park is, this was an overall decline of 50% for both foreclosure sales and short sales and a decline of 30% for non-distressed homes year over year.

Average sold price per square foot is now $247.63 which is an 8.4% drop from last February’s average sales price per square foot of $270.37. Homebuyers on average bought homes 10% larger than a year ago. Average sales price is now $391,722 which is almost the same as it was a year ago when it was $388,850. Median sales price is now $330,000.

Inventory in Land Park is now at 3.4 months based on the last year of sales and 3.7 months based on the last six months of sales. Foreclosure inventory remains fairly high in this area of Sacramento – 2.5 months based on the last year of sales and 3.8 months based on the last six months of sales.

Just 7 homes sold in the Land Park area following the wake of recovering real estate prices. This was an overall drop in unit volume of 22.2% year over year. With number of homes sold being so small, statistics get grossly exaggerated so it is important to mention that 6 of the homes were non-distressed sales and 1 was a short sale. No foreclosures sold this month.

Average price per square foot is now $290.07 – an 11.8% increase year over year. Average sales price rests at $382,857 which is 4% higher than it was last January but most homebuyers also bought homes on average 7% smaller so the more accurate figure is the average price per square foot. Median sales price is currently $399,000.

Inventory is at 3.2 months based on the last year of sales and at 3.5 months based on the last six months of sales. There are just 5 foreclosures (2.4 months of inventory) and 12 short sales (10.3 months of inventory) currently left on the market of the distress sales.

Homeowners (and home sellers, I suppose as well) in the Land Park area have quite a bit to smile about and can afford to feel a little optimistic. Whereas in other areas of Sacramento county September has been a bit of a slow month, Land Park seems to be doing better than elsewhere. Unit volume was higher in Land Park by 28.6% year over year and it also included two short sales! Land Park has been in the past averse to getting rid of its short sale inventory so we hope this is a step in the right direction. 2 foreclosures and 14 non-distressed properties also sold. Homebuyers in the area have always seemed to prefer non-distressed homes over distressed, an important fact that gives Land Park its relative stability.

Speaking of stability, average price per square foot rose from last month’s $255.80 to $273.63. It is still 4% under last September’s $284.63 however. Average sales price is currently at $347,018 down 9.3% year over year from a high of $382,786 but since homebuyers bought homes 6% smaller on average this year over last year, the more accurate number here is the price per square foot. Median sales price is now at $319,062.50.

Inventory is at 4.9 months based on the last year of sales and 4.3 months based on the last six months of sales.

Land Park is a lot like downtown Sacramento in that it is such a small community that any little changes in sales and prices reflect a huge difference when we start to look at the statistical data for it. One thing however has not changed in this equation: homebuyers are definitely not interested in short sales in the area. There have been since last year 17 short sales consistently on the market and the average has been 1 sale in the last year and no sales in the last six months!

Unit volume suffered a decline this month by 45% year over year – just 11 homes sold this August as compared with 20 last August. Of these, 1 was a foreclosure (signaling a 75% drop) and 10 were non-distressed properties (corresponding to a 33.3% drop year over year.)

Average sold price per square foot is now $255.80 in Land Park which is 17.2% lower than last August’s sale price of $308.98. Average sales price climbed over the $400,000 mark this month: it is now $403,889 which is still however 14.2% lower year over year when compared with last August’s $470,625. Median price is $360,000.

Inventory is at 5 months based on the last year of sales and 4.5 months based on the last six months of sales. Foreclosure inventory is at 0.4 months no matter how you look at it.

Land Park looks like a normal healthy real estate market this month and the price gains from month to month have been pretty impressive. Even sales of homes have not suffered as a result. 22 homes sold this month in Land Park of which 18 were non-distressed sales, 3 were foreclosures and 1 was a short sale. Unit volume is up year over year by 46.7% while foreclosures are down 25% for the same period. Non-distressed sales gained a huge 63.6% over last June.

The price per square foot has recovered from last month: it is now $260.57 but has not yet reached the heights of last June when it was $305.89. That’s a 14.8% decline in value. Meanwhile homebuyers afforded themselves 9% bigger homes on average than last June. Average sales price is now 7.5% under last June’s high of $395,093. It is currently $365,514. Median sales price is 5% higher than last year at $367,500.

Inventory is at 4.7 months based on the last 12 months of sales and 4.8 months based on the last 6 months of sales.

Land Park is a lot like downtown Sacramento in that the smallest change in every home sale counts toward big changes in the overall real estate market for the area. There has been no change in unit volume year over year – 19 homes sold in Land Park this May as they did last May. However, 1 more foreclosure sale and 1 more short sale closed escrow as compared with last May.

Average sold price per square foot is currently at $211.64, about 29.4% lower than it was last month. Also interesting is the fact that on average homes sold in Land Park this May are 45.2% bigger than they were last May! So, with that in mind the average sales price can be misleading when it shows a gain of 2.6% year over year. It is currently $395,126 as compared with $385,126. Median price is $385,000. Again, remember the average sold price per square foot is the most accurate measure in this case.

Inventory is at 4.8 months based on the last 12 months of sales and 4.9 months based on the last 6 months of sales.

The majority of sales in Land Park are still non-distressed sales. Perhaps that’s because there just aren’t that many foreclosures and short sales on the market. While that should spell good news for prices, Land Park continues to remain sluggish.

A total of 13 homes sold in the area in the month of April of which 2 were foreclosures and 11 were non-distressed homes. Overall unit volume is down 13.3% overall year over year. Foreclosure sales remain the same, but non-distressed home sales fell 15.4% for the same period.

Sold price per square foot is currently at $231.12 which is down 16.6% from a year ago. The high last April was $277.22. Average sales price in April is $340,900 down 12% from last April’s $387,633. Median sales price is now $350,000. Homebuyers as a result have afforded on average 5.5% bigger homes year over year.

Inventory is at 4.5 months based on the last 12 months of sales and 4.9 months based on the last six months of sales.

As the Land Park area of Sacramento continues its slow real estate recovery which seemed to have begun last month, we see a drop in sales. A total of 13 homes sold in the area this month, which is a unit volume decrease of 31.6% year over year. Only 1 foreclosure and 1 short sale closed escrow this month along with 11 non-distressed properties. Land Park is one of those areas that has a relatively low number of foreclosures and distress sales and could be the first to begin a recovery.

Average price per square foot in Land Park is also higher than last month’s $270. It is currently at $281.09, still lower however than last year’s (at the same time) sold price per square foot of $300.49. Average sales price is 13% lower year over year to rest at $393,931 from a high of $452,468. Median price is at $335,000.

Inventory is at 4 months based on the last year of sales and 4.2 months based on the last six months of sales. Foreclosure inventory is at about half a month.

As I struggle to spell “February” just right on this keyboard before a full cup of coffee, the real estate market in the Land Park area of Sacramento is showing some slow signs of recovery in prices. Unfortunately, when the rest of Sacramento is still declining, this recovery could either be short-lived or will translate in a unit volume decline locally as more buyers head to other parts to buy homes. That is potentially what we are seeing in Land Park.

Unit volume is down 46.2% year over year. Foreclosure sales are down 50% and so are non-distressed home sales. A total of 14 homes sold this month: 10 non-distressed coupled with 2 foreclosure sales and 2 short sales.

The average sold price per square foot is beginning to hover again around $270, which speaks of the stability of Land Park as a local real estate market. It dipped slightly over the last few months under that mark and is currently at $270.37. That is however a decline of 12% year over year from a high of $308.05. Average sales price is at $388,850 – also a decline of 14% year over year from $454,096 but looking better than last month’s $358,050. Median sales price tells the same story – it is currently at $367,500 which is better than last month’s $340,000 but still when compared with last year’s number at $404,400 has dropped 9.1%.

Inventory is at 3.8 months based on the last year of sales and 4.2 months based on the last six months of sales.

After a prolific month in December 2008, the real estate market in Land Park seems to be taking a breather this month. We see a year over year decline in foreclosures and non-distressed sales and an overall decline in sales volume by 52.6% in January in this much coveted Sacramento neighborhood. The good news is that non-distressed sales still continue to sell – more than the foreclosure sales. 1 foreclosure, 2 short sales and 6 non-distressed homes sold this month in Land Park: a total of 9 homes.

Average sold price per square foot, which had been increasing month after month, suffered a decline this month. It is currently at $259.43, down 2.8% year over year from last January’s $266.92. (Last month it was $271.77) Average sales price also suffered a decline of 14.1% year over year from $428,387 to $368,050. I would go with the more accurate sold price per square foot this month however since the average home sold was also 10% smaller! Median sales price fell 27% year over year from $465,900 to rest at $340,000.

Inventory is at 3.6 months based on the last year of sales and 4 months based on the last 6 months of sales.

There is much to cheer about in Sacramento’s Land Park. While in most other areas of Sacramento county, foreclosure sales are definitely in the driver’s seat, hurtling prices into a downward spiral, here in Land Park, real estate prices, while a little soft are holding their own. Non-distressed sales still make up 80% of all sales in the market, while foreclosure sales and short sales each take 10% of the sales pie. Here’s another surprise: not only are non-distressed sales the majority of all sales, they have also enjoyed a year over year increase by about 78%! Add to that a couple of foreclosure sales and short sales and you have a year over year increase in sales by 100%!

Last month I reported an increase in sold price per square foot. This month, I’m happy to report the same good news. Sold price per square foot is now at $271.77, higher than last month’s $269.44, which was higher than October’s $250.87! However, year over year, that is still a decline of $13.4%. Last year, the sold price per square foot was at $313.75.

Average sales price in Land Park has fallen 15% year over year – from a high of $461,150 to $391,750 today. Median sales price has also suffered a decline of 18.6% from $451,250 to 367,500 for the same period.

Inventory is lower again this month. Currently it is at 3.1 months (based on the last year of sales) and 3.4 months (based on the last 6 months of sales.)

There are parts of Sacramento county that seem to be recovering and Land Park is among them. The 12 short sales I mentioned last month still have not sold, so we’ll have to see if they end up causing this recovery to take longer to get here, but the numbers this month have been better than they have been in a long time. So Land Park residents, rejoice!

Sales slowed this November in Land Park. We have a unit volume drop of 50% over last November. In fact only 11 homes sold in the area: 2 foreclosures, 1 short sale and 8 non-distressed.

Sold price per square foot, while posting a drop of 19.2% over last year at the same time is still higher this month as compared with last month. Last November, it was $333.55. This November the sold price per suare foot averaged $269.44 – higher than October’s $250.87. This is not the only number that makes me happy this morning. The average price for a sold home has also recovered somewhat since last month: from $346,250 in October to $435,045 in November. It is still a drop of 12.3% year over year. Last November, the same home would have sold for $495,795. Median price, however has posted a year over year increase of 8.6% – no small number in this market. Last November’s median was $422,000 and this November, the best number is $458,500.

Inventory is also lower than last month, another sign of hope in Land Park. We are at 4.4 months based on the last year of sales and at 4.8 months based on the last six months of sales.

The Land Park real estate landscape has changed over the last year. And this is a textbook case on how foreclosures can affect house prices, so it’s well worth noting, even if you have no interest in buying a home any time soon and / or do not live in Land Park.

Last October saw no foreclosures in this well established community and no short sales. 100% of the houses sold in this area were non-distressed. Today, while the majority of houses sold are still non-distressed, it is a small majority: 54.5% of all home sales. The rest are foreclosures (27.3%) and short sales (18.2%)

And when almost half the homes sold in a community are foreclosures, prices reflect that reality. Price per square foot in Land Park have dropped 25.9% from $338.42 last October to $250.87 this month. The average home in Land Park sold for 26.1% lower this year – for $346,250. Last October, the same home would have sold for $468.750. Median sales price has also dropped from $412,500 to $318,000 for the same period – a drop of 22.9%

There are, unfortunately, 13 short sales on the market in Land Park, so we might see some pain just yet in this community. Overall inventory based on 12 months of sales is at 5 months and based on 6 months of prior sales is at 5.5 months.

Not much has happened in the Land Park area of Sacramento and that might be a good thing. While a year ago at the same time, there had been no foreclosures for sale and only one short sale, this year we see two foreclosures sold and no short sales. This is a good thing. Calm and quiet in a certain neighborhood – in terms of real estate, especially – might be just what we need for prices to stabilize.

Unfortunately for Land Park residents, the neighborhood is not completely immune to the rest of Sacramento county. Although the majority of properties that sell here are non-distressed (85.7%) the price per square foot has still fallen 18.7% over last September. It now stands at $284.63 per square foot. The average sales price is now $382,786 – a drop of 17.8% over last September’s average.

There might be some real opportunties for buyers looking for a bargain in Land Park in the short sale category if lenders are willing to work with the sellers. In a relatively stable neighborhood such as this, there are currently 12 short sales and 2 foreclosures listed. Inventory for all sales currently sits at 5 months.

Along with East Sacramento (95818) and downtown (95814, 95816), Sacramento’s Land Park area commands prices over $300 per square foot.  Until recently, the low foreclosure numbers in these areas had kept prices high.  What we’re seeing now (for the most part — Downtown being an exception this month) is that these areas have slowly falling prices and somewhat sluggish sales compared to last year.  In the case of Land Park, however, the declining sales have not yet seriously hurt the inventory figures, which are a comfortably low 4.2 months.  This is true even though the figure for unit sales in July (13 homes) is only half that of last year’s 26 units sold.

This year’s average home sold for far less than last year’s but because it was (on average) much smaller, most of that drop is an artifact of the difference in size.  Thus, average sold price fell 29.1%, while average sold price per square foot only fell 5.6%.  The average home sold this July in Land Park fetched $402,146, or $313.20 per square foot.

Bank foreclosures made up only about 8% of the sales in July.  Along with short sales they comprise about 20% of the active inventory in Land Park.