An unhurried lifestyle and an unhurried real estate market. These seem to be the hallmarks of Pollock Pines, or maybe it was just all the snow around December. Whatever the case, the real estate market up here is lackadaisical at best. A mere 8 homes sold this month: 3 forecloures and 5 non-distressed homes! Yes, this is one of the rare areas where non-distressed homes are preferred by buyers over foreclosure sales as evidenced by the numbers! Unit volume was down however by 33.3% year over year.

Sold price per square foot is unchanged over last month, but we do see a drop of 19.5% when compared with last year at the same time: from $171.97 to $138.50. Average sales price has fallen 21.3% for the same period – where last year it was $305,125 today it is $240,200. (This in however higher than last month’s average sales price of $224,273.) Median sales price has seen a drop of 20% from $292,500 to $232,799. (Again, better than last month’s $210,000.)

Inventory is at 11.8 and 12 months based respectively on the last 12 months and 6 months of sales. Yes, it’s an unhurried marketplace all right.

If you’re missing a white Christmas in Sacramento, maybe it’s time to head uphill. Here at 4000 feet, there is a lot of snow – and undiscovered real estate – to be found. Pollock Pines seems to be just now getting around to catching up with the rest of the foreclosure markets. It posted a unit volume increase of 57% but that was no thanks to the non-distressed sales. Only 1 non-distressed home sold in November in Pollock Pines. 90% of home sales were foreclosures and short sales.

But the inventory is far from gone: there are currently 29 foreclosures and 14 short sales on the market. With home sales averaging about 10 – 11 a month, we still have overall inventory at 12.6 months (based on the last 12 months of sales) and 11.8 months (based on the last 6 months of sales.) However, foreclosures only make up 6.2 months and 5.8 months of inventory for the same periods.

Of course, the reason foreclosures are such great sales is the price. Sold price per square foot has fallen 32.1% year over year. From its high of $203.87 last November, it now rests at $138.53. The average sales price has fallen 41.5% – from $383,271 to $224,273 for the same period. Median sales price has also fallen 43.2% from $370,000 last November. It is currently $210,000.

Since I’ve met quite a few home buyers from Sacramento interested in buying a vacation home in the Pollock Pines area, I feel the need to include a market update on the real estate goings-on uphill. So here it is!

You probably know this already, but it’s not a bad time to buy a home in this area if you can tolerate snow. 6 foreclosures sold this October in Pollock Pines, which is a sizeable number when you consider the total population here of about 5000 people. More than two-thirds of all home sales here are now distress sales and non-distressed sales make up only 30% of all homes sold. There are currently 26 foreclosures on the market, so second-home buyers… here’s your sign!

Average sales price has declined 10.6% over last October’s high of $277,143. It is now at $247,678. Sold price per square foot has dropped 28.8% from $191.89 to $136.56 for the same period. Why the huge discrepancy in the statistical data? Because the bargain hunters are now able to buy bigger homes! The average home sold is now 25.6% bigger than last October!

Based on the last year of sales, inventory is 13.1 months and based on the last 6 months of sales, inventory is at 12.5 months. So, Sacramentans, put on your snow shoes and head uphill! (Actually, you might want to hold off on the chains, it isn’t snowing yet.)