A total of 74 homes sold this month in Lincoln and the market doesn’t seem much different than it was a year ago. 36 foreclosures, 12 short sales and 26 non-distressed homes closed escrow in March. Foreclosure sales are up 16% from a year ago and short sales up 100% for the same period. Non-distressed sales are down year over year by 38.1% – a statistic that surprises no one. Overall unit volume is down 6.3% year over year.

Prices are following the downward curve as well. The average sold price per square foot is now $134.26 down 13.8% year over year from a high of $155.73. The average sale price is down 22.2% year over year from $364,777 to rest at $283,686. Median sales price is down 21.2% for the same period to $264,000. Interestingly enough, the average home sold is also about 10% smaller than it was a year ago so the more accurate measure of home prices is the average price per square foot.

Inventory is at 5.8 months based on the last year of sales and 6.6 months based on the last six months of sales. Foreclosure inventory is at 1.2 months and 1.3 months respectively.