Natomas Real Estate Market Update: June 2009
With a renewed interest in short sales in Natomas, sales are beginning to slow in the foreclosure and non-distressed sectors of real estate sales. A total of 161 homes sold in the area this month of which 105 were foreclosure sales, 24 were short sales and 32 were non-distressed sales. Which means foreclosures have tumbled 28% and non-distressed 22% while short sales have gained 50% in sales year over year.
Average sold price per square foot currently rests at $112.14 down 17% year over year from $134.97. Average sales price has followed the same curve and is now at $204,195 down 18.7% year over year. Median sales price rests at $200,000.
Inventory in Natomas is at 3.3 months based on the last 12 months of sales and 3.5 months based on the last 6 months of sales. Foreclosure inventory has dipped significantly and is currently at 0.5 months and 0.6 months respectively.
