Sacramento Real Estate Blog

The sluggish real estate market in El Dorado county continues. A total of 115 homes sold in the months of March, of which 55 were foreclosures (47.8% of the total sales) 16 were short sales (13.9% of the total sales) and 44 were non-distressed (38.3% of overall sales). Unit volume is just barely higher than last March’s total sales of 104: about 10.6% higher.

Average price per square foot slipped again this month after posting an increase last month. From $165.25 last month, it is currently at $161.83. That is a drop of 16% year over year from a high of $192.32. El Doradians took the opportunity to buy a home 7.2% bigger than last year however. The average sale price suffered a decline of 9.8% year over year from last March’s $414,951 to this month’s $374,330. Median price was not immune to the drop either: it fell 8.1% from $359,000 to $330,000.

Inventory is at 9.7 months based on the last year of sales and 11.2 months based on the last six months of sales. This is significantly higher than last month’s inventory numbers of 7.4 and 8 months. Foreclosure inventory is at 2.7 months.