Perhaps the banks are finally getting a grasp on the seriousness of the real estate downturn and are beginning to accept short sales now. That definitely seems to be the case in Lincoln anyway. We are seeing a 367% increase in short sales year over year along with a 58% increase in foreclosure sales. Non-distressed home sales suffered a decline of 22.2% year over year. Overall unit volume is up by 35%. 61.3% of all sales are now distress sales, while the rest are non-distressed. When we compare that with how evenly distressed and non-distressed sales were divided last year at the same time, we get a better idea of the current real estate market in Lincoln.

Sold price per square foot has fallen 17% year over year. It has dropped from a high of $165.72 to today’s low of $137.65. Average sales price has also fallen 17%. The average home in Lincoln is now worth only $313,464 as compared to its price last December at $376,901. Median sales price has dropped 13% from $337,500 to today’s low of $295,000.

Inventory in Rocklin is at 5.4 months based on the last year of sales  and 5.1 months based on the last six months of sales. There are currently 440 properties on the market for sale.