Sacramento Real Estate Blog

The focus of home buyers in Natomas has definitely been on the non-distressed homes for sale and the short sales. Surprising as it may be, the numbers last month seem to bear that out. Maybe the good foreclosures are gone? Only time will tell. For now, suffice it to say that the short sale inventory has shrunk about five months in the last few weeks with foreclosure inventory remaining the same. However, with 20.8 months of short sale inventory, the pain in the Natomas real estate market is not over.

Unit volume is up 56% year over year. 134 homes sold in the month of February 88% of which were distress sales: 102 foreclosures and 16 short sales closed escrow along with 16 non-distressed homes. And although home buyers might be beginning to lose interest in the foreclosures, they haven’t done so just yet. Foreclosure sales are up 64.5% year over year and short sales up a whopping 129% for the same period. Non-distressed sales are down 6%.

Average sold price per square foot is down 23% year over year. It is currently at $113.40 down from $146.56. The average sales price is down 31% for the same period, currently $199,161. Median price is at $200,000, down 25.3% year over year. The average home sold is also 10% smaller, so here the average price per square foot is the more accurate measure.

Inventory is at 3.9 months.