Real Estate Market Report for Sacramento, El Dorado and Placer County

I'm sure you're shuttling back and forth now reading market reports over at Sacramento Home as well as here, but I thought to get an overall idea of the real estate market, I would put up the statistics for all three counties combined right here. 2233 homes sold this August in the tri-county area as compared with 2630 last August. This points to a unit volume drop of 15.1% year over year. The hardest hit seem to be foreclosure sales with a 37.4% drop! Short sales in the meanwhile seem to be filling the gap with a 63.7% increase year over year. Non-distressed sales have remained mostly unchanged year over year with a 5.4% increase. Still, the overall market looks healthier with 37.4% of all sales now being non-distressed as compared with 30.2% last August.

Average sold price per square foot is now $127.69, down 15% from last August's $150.34. Average sales price rests at $226,416 also down 15.1% year over year from a high of $266,563. Median sales price in the tri-county area is currently $201,000. That's down 14.5% from $235,000 last August.

Inventory is at 4.1 months regardless of whether you're looking at the last year of sales or the last six months. Foreclosure inventory is hovering around the 0.6 month mark. Short sales have gained traction in the last few months but they still have a long way to go with 15.6 months of inventory based on the last 12 months of sales and 13.5 months based on the last six months.