Rancho Cordova Real Estate Report – June 2010

This is your Rancho Cordova/Gold River Real Estate Report for June 2010. This monthly report will cover key housing statistics such as the number of homes on the market, pending sales and list price/actual sold price.  Other market metrics will include average price per square foot, current inventory levels and median home prices.  Each month this real estate market report will provide the latest figures for the Rancho Cordova/Gold River real estate markets.

Number of Homes Sold vs. Pending:

According to the June 2010 Trendgraphix report from Lyon Real Estate there were 153 homes for sale in the Rancho Cordova area at the end of May 2010. This represents an upward 23.4% change from the previous month. Pending sales where at 64 for May which is 32.6% lower than the previous month. There were 67 sold properties in the area which was up from 52 sold properties in the previous month.

Average Price per Square Foot:

The average square foot price for homes in the Rancho Cordova/Gold River area is $133. This represented a slight 0.6% uptick from the previous month at $132. At this time last year we have seen the average price per square foot rise by 3.3%

Average Days on the Market & Sales Price vs. List Price:

In May the average days on the market equaled 67 days for the Rancho Cordova/Gold River Area. This is up 11.7% from the previous month which had seen homes on the market for 60 days. Homes have been selling on average of 96% of the asking price.

Average Price of Homes for Sale vs. Sold:

The average price of homes for sale in May equaled $242,000. Homes that actually sold equaled an average sales price of $221,000. These figures are are down 2.4% and 1.3% respectively in comparison.

Inventory:

Still considered a buyer’s market with 2.3 months of inventory showing for the end of May. Inventory is down 4.2 % in comparison to the previous month of 2.4 months.

Median Home Price:

The median Home price for Rancho Cordova is $187,000. This is down 6.5% from the previous month which showed a median of $200,000

Distressed Properties at a Glance:

Short Sales- The average square foot price for short sales through the month of May was $124. There was 2.8 months of short sale inventory on the market through the month of May. Short sales are selling on average at 97% of list price.

Bank Owned Properties (REO)- The average square foot price for bank owned properties through the month of May was $116. There was 1.6 months of bank owned inventory on the market through the month of May. Bank owned properties are selling on average at 93% of list price.

For free Market Reports, Home Value Analysis or Home Listings please contact Jim at: www.sacrealestatereports.com or (916) 601-0500. Jim Hamilton is a licensed broker associate with Lyon Real Estate. DRE #01871309. Data supplied by Trendgraphix, a licensed data source copyrighted by Lyon Real Estate.

Disclosures:* All reports are published June 2010, based on data available at the end of May 2010. All reports presented are based on data supplied by the Sacramento, El Dorado, Placer, and Yolo Association of Realtor, Nevada County Association of Realtor or their MLSs. Neither the Associations nor their MLSs guarantee or are in anyway responsible for its accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

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Posted by Jim Hamilton on Jun 17 2010. Filed under Gold River, Sponsored. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.