Placerville Real Estate Market Update
Placerville is one of the few incorporated communities in El Dorado County and the county seat, but when we talk about Placerville real estate, we often want to include areas that are outside the city limits as well. Unit sales were the same as last year in Placerville, with 27 homes selling in August of each month. However, the supply of homes in the Placerville area is far outstripping the demand, with the result that there are about thirteen to fifteen months of inventory in Placerville at present.
The average home sold in Placerville in August of 2008 for $190.36 per square foot, down 15.2% from last year’s average of $224.41. The average selling price this year was $364,934, down 28.2% from last year’s average of $508,385. At $315,000, August’s median selling price this year was down 26.7% from last August’s median of $430,000.
Of the more than three hundred homes in active inventory, only about 25% are short sales and foreclosures, though they made up about 41% of sales in August.
