Saturday, May 28, 2011

Update On Our Street

A number of houses on our street in Elk Grove have been listing as short sales lately, and I get the feeling the wheels are being greased on the foreclosure machine. One neighbor of ours just listed their house as a short sale after receiving a Notice of Default last month. Turns out they hadn't made a payment in 30 months! The house originally "sold" in early 2008 for around $300K, and is now pending for under $220K. The real stunner is when I ran older sales for our neighborhood, I found an identical house that sold in 1990 at the height of the previous bubble, for, you guessed it, $220K! That's 21 years with negative appreciation!

Sacramento Regional Real Estate Trends for May 28, 2011

Summary Of Changes for Sacramento County

 
Week of 2011-05-28
Since 2011-05-21
Since 2010-05-29
Direction
#
%
Direction
#
%
Inventory
7347
Down
-116
-1.60%
Down
-224
-3%
Median Asking Price
$159500
Up
$250
0.200%
Down
-$20500
-11.4%
Average Asking Price
$196684
Up
$1399
0.700%
Down
-$26713
-12%
Average Asking Price Per SQFT
$117
Steady
$0
0%
Down
-$16
-12%
SIT Inventory
3335
Down
-80
-2.29%
Down
-104
-3%
FIT Inventory
460
Down
-23
-4.79%
Down
-97
-17.3%
New Listings
764
Down
-129
-14.3%
Down
-138
-15.2%
Price Drops
565
Up
21
3.899%
Up
95
20.20%
Price Increases
54
Up
26
92.90%
Up
11
25.60%

Four County Inventory Levels

Inventory on 2011-05-28: 11257



Asking Price Levels



Price Inventory Levels



Asking Price Distribution



Troubled Inventory Levels



Flipper Market Share



Sellers In Trouble Market Share



Sellers In Trouble Days Since Last Sale



Asking Price Average Percent Loss