Sacramento Real Estate Blog

Change comes slow to El Dorado county and it usually isn’t as severe as Sacramento county. Let’s hope it remains that way for the El Dorado county real estate market as well. While we saw non-distressed sales making up the majority of homes sold in the area, things seem to have changed this November. For the first time in a long time distress sales overtook non-distressed with 52 foreclosures (that’s 42.6% of the market) and 15 short sales (that’s 12.3% of the total market) exchanging hands. Only 55 non-distressed properties sold, a decline of 37.5% over last November.

Unit volume is up, but not by much. 10.9% more homes sold this November as compared with last November.

Non-distressed sales taking over has of course affected price. Foreclosures put downward pressure on prices and El Dorado is no exception. Average sold price per square foot fell 17.9% year over year - from $208.83 to $171.42 this month. Average sale price is also down 18.2% for the same period. We are currently at $373,892 from last November’s high of $457,326. Median sale price has fallen 8.8% from $383,750 to $350,000.

This is so depressing, I think I’ll have an extra cup of coffee to get through this. The only good news is that inventory is lower than last month. We’ll see if this trend continues into the next year. Currently, El Dorado county is at 10.7 months based on the last year of sales and 9.4 months based on the last six months of real estate sales.