The Natomas area of Sacramento includes the following zip codes:  95833, 95834, 95835, 95836 and 95837.  Like many areas, Natomas has been experiencing falling prices and increasing demand compared to last year, with the result that inventory is now fairly low by recent standards at about six months worth.  (6.8 months if you use the last 12 months absorption rate, or — because sales have picked up so much this year — 5.2 months if you use the past six months to get the absorption rate).

Last July, only 21.5% of all sales were either short sales or foreclosures in Natomas.  This July, that number has risen to 82.6% of all sales.   Approval and closing of short sales continue to be sluggish in Natomas, with only 6.8% of all sales closing in July being short sales — even though they currently make up 51% of active listings.  In contrast, REOs (bank owned foreclosures) accounted for 75.8% of all sales in July, yet make up only 25% of active listings.

In July, the average Natomas home sold for $132.93 per square foot, down 31.4% from last year’s average of $193.63.  The average sale price was down 28.8% from the July 2007 figure of $340,676, with the average home in selling for $242,496 in July of 2008.

The number of buyers for homes in Natomas has increased dramatically, almost tripling from the 73 homes sold in July of 2007 to a figure of 207 homes sold in July of 2008.

Related Links:

Homes Available Now in Natomas

Last Month’s (June’s) Market Report for Natomas

Property Listing Email Updates

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