Forsesthill is a small town in Placer County, with few units selling every month. The small sample size tends to throw off statistical generalizations you might want to make. Nevertheless, let’s take a look at the numbers we do have and see how Foresthill is doing in the first quarter of 2008.

Seven units sold during this quarter, at an average sale price of $292,071, down from eleven units last year at an average sale price of $393,000. This looks like a very dramatic drop in price on the face of it, until you realize that this year’s crop of homes was almost 25% smaller than last year’s. The net result is that sold price per square foot fell only 13.6%.

There are forty-nine homes currently for sale through the MLS in Foresthill. Of these, two are bank foreclosures (4.1%) and five are short sales (10.2%). This year of the seven homes that closed, two were foreclosures (28.6%).

With fifty-three homes selling yearly in Foresthill, the forty-nine available homes means that there is 11.1 months of unsold inventory.