El Dorado County Real Estate Market Update: November 2009
We are still seeing an upswing in the year over year unit volume even though foreclosure sales have fallen 11.5% for the same period. Short sales have remained the same year over year, so it should go without saying that it is the non-distressed property sales that are driving the numbers. Homebuyers have shown a renewed interest in these, perhaps because prices are still low. Non-distressed sales saw an increase of 56.4% year over year. More than half of all real estate sold in El Dorado county is now non-distressed.
Average price per square foot is now $151.28 which is 11.7% lower than it was a year ago when it was $171.42. In keeping with the general temper of the El Dorado market, homebuyers pounced on the opportunity to buy homes on average 3% bigger than last November. Average sales price is currently $339,565 which is 9.2% less than it was a year ago when it was $373,892. Median sales price is now $317,000.
Inventory in El Dorado county is now at 8.7 months based on the last year of sales and 7.3 months based on the last six months of sales.
