Whereas Sacramento county has (almost) exhausted its supply of foreclosure inventory, El Dorado county on the other hand seems to be just beginning to turn into a foreclosure market. It has taken a while for homebuyers to turn their attention to the REOs but it seems like they may finally be taking notice.

A total of 187 homes sold in the El Dorado county area this month of which 69 were foreclosures. Foreclosure sales have gained 64.3% year over year! Short sales gained also at 188.9% and non-distressed sales gained 18% for the same period. Overall, unit volume has gone up 45% in this part of California.

Sold price per square foot however has fallen again as always happens when there is a big surge in foreclosure purchases. Average sold price per square foot currently rests at $153.88 – that’s a 19.4% drop year over year. Average sale price is currently $358,725, which implies a 16.7% fall for the same period. Median sales price in El Dorado county is $337,750 for the month of July, a fall from last July of 10.6%.

Inventory, even with all the homebuyer interest, is at 10.1 months based on the last year of sales and 9.7 months based on the last 6 months of sales. Foreclosure inventory is at 2.1 months and 2 months respectively.

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