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04 Jun

El Dorado Real Estate Market Update: May 2010

Posted June 4th, 2010 | View Comments

204 homes sold in the county of El Dorado last month, an overall unit volume increase of 37.8% year over year. Unlike Sacramento county where foreclosure sales have fallen in large numbers, El Dorado county seems to be on its own trajectory with foreclosure sales up by 8.3% and short sales up by a whopping 115% year over year. Non-distressed sales also increased 41.2% for the same period. Almost half of all sales are now non-distressed sales.

Average price per square foot is now $151.47 down 2.4% year over year from $155.12. Average sales price for a home in El Dorado county is now $346,881 which is also lower than it was a year ago when it was $380,004. Median sales price is now under the $300,000 mark, currently resting at $299,500 down 14.4% from $350,000 last May.

Real estate inventory for El Dorado county is now at 8.3 months based on the last year of sales and 8.5 months based on the last six months of sales. Foreclosure inventory is around 2 months and short sale inventory is around one year.

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