While last year at this time foreclosures were just about beginning to catch up with non-distressed sales in Natomas and home sellers were beginning to panic just a little bit, we were just seeing the tip of the iceberg. Today, 85% of all sales are distress sales and a mere 15% are non-distressed and those home sellers must definitely feel the pinch. Consider this: 118 foreclosures sold in the area of Natomas this month. Couple that with 15 short sales and the 24 non distressed sales are clearly in the minority.

Meanwhile, unit volume continues to be high. 55.4% more homes sold in Natomas this December than they did last December. Meanwhile, non-distressed home sales have suffered a decline of 56.4% year over year.

And the prices have continued to fall, as will always be the case when there are so many foreclosures the market has to absorb. Sold price per square foot has suffered a decline of 30% year over year. Natomas has gone from $172.04 to $120.09. Average sales price has fallen 33% from $318,053 to $213,786. Median sales price has declined 24% from $283,250 to $214,900 for the same period.

Inventory is at 4.4 months based on the last year of sales and 3.9 months based on the last six months. Foreclosure inventory is at 1.6 months.

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