Fair Oaks, California, Home Prices and Sales Activity (5/09)
By Sally Dunbar, Fair Oaks Realtor - Fair Oaks Homes for Sale
(Lyon Real Estate, Fair Oaks CA (Sacramento Area))
It's been a wild ride for homes sales in Fair Oaks, California, but for 2 months in a row we have had huge increases in the number of sales. Sales doubled in March over the preceeding month, from 18 to 38, then increased another 10% in April, to 41. And all the while inventory has been dropping to it's lowest numbers in over a year. With 42 pending sales out of the 132 homes on the market in Fair Oaks, that's roughly 1/3 of the homes selling in one month. Compare that to one year ago, when only 1/5th of the homes sold. But what effect have the increased sales had on the prices, you ask? April saw an overall increase in the average price per square foot from $143 to $149. That's down from a high of $194 last April. Remember, this is for all price ranges. In general, the lower pri...
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