Fair Oaks homes declined in value over the last year, but not as rapidly as in the rest of Sacramento County.  The average Fair Oaks home sold in July for $174.22, down 21.9% from last year’s average of $222.96.  At the same time, this year’s average home was smaller than last, so the drop in average sale price was greater, 35.4%, with the average home this July selling for $307,838 versus $476,462 last July. 

Demand in Fair Oaks was stronger this year than last, with unit sales increasing 70.4% from 27 units selling in 2007 to 46 units in July of 2008.  Of these 46 units, twenty-two were non-distressed sales (47.8%), 5 (10.9%) were short sales, and 19 (41.3%) were bank foreclosures.  Fair Oaks inventory is slightly higher than the county-wide average, with 5.8 months in inventory at present.