Rancho Cordova Real Estate Report – July 2010

This is your Rancho Cordova/Gold River Real Estate Report for July 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 July 2010 Trendgraphix report from Lyon Real Estate there were 69 active homes for sale in the Rancho Cordova area at the end of June 2010. This represents a downward 4.2% change from the previous month. Pending sales where at 26 for June which is 62.5% higher than the previous month. There were 20 active sold properties in the area which was down from 29 sold properties in the previous month.

Average Price per Square Foot:

The average square foot price for active homes in the Rancho Cordova area is $149. This represented a slight 0.9% reduction from the previous month at $150. At this time last year we have seen the average price per square foot decline by 13%.

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

In June the average days on the market for active homes equaled 48 days for the Rancho Cordova area. This is down 2% from the previous month which had seen active homes on the market for 49 days. Active homes have been selling on average of 96% of the asking price.

Average Price of Homes for Sale vs. Sold:

The average price of active homes for sale in June equaled $290,000. Homes that actually sold equaled an average sales price of $223,000. These figures are are down 4.6% and 17.7% respectively in comparison.

Inventory:

Still considered a buyer’s market with 3.5 months of active home inventory showing for the end of June. Inventory is up 39% in comparison to the previous month of 2.5 months.

Median Home Price:

The median active home price sold for Rancho Cordova was $193,000. This is down 2% from the previous month which showed an active median home price sold of $197,000.

Distressed Properties at a Glance:

Short Sales – The average square foot price for Short Sales through the month of June was $117. There was 3.3 months of short sale inventory on the market through the month of June. Short sales are selling on average at 97% of list price.

Bank Owned Properties (REO) – The average square foot price for bank owned properties (REO) through the month of June was $114. There was 2.2 months of bank owned inventory on the market through the month of June. Bank owned properties are selling on average at 95% 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 July 2010, based on data available at the end of June 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 Jul 20 2010. Filed under Business, Gold River, Media, Photos, Sponsored. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.