Sacramento Real Estate Blog

Even though foreclosures are continuing to sell in the Natomas area, we are beginning to see a new interest in short sales, which might be a good thing and something many homeowners are waiting for to see a real estate recovery. With just a half month of foreclosure inventory left, we’ll have to see where the Natomas market goes.

203 homes sold in the area in May: 137 foreclosure sales (67.5% of all sales), 38 short sales (18.7% of all sales) and 28 non-distressed properties (13.8% of all sales). And while foreclosure sales have gained a mere 2.2% year over year and non-distressed sales have fallen 39% short sales have gained in sales by 322% for the same period.

Average sold price per square foot is now $108.06, down 22.2% year over year from a high of $138.82. Average sale price is now $192,091 also down 26.9% from $262,943 from last May. Median sales price is $195,000.

Inventory in Natomas is at 3.4 months based on the last 12 months of sales and 3.7 months based on the last six months of sales.