El Dorado County Real Estate Market Update: February 2010
Prices in El Dorado county continue to fall. However, unit volume is up. A total of 122 homes sold this month in the county of El Dorado. Of these, 49 were foreclosure sales, 29 were short sales and 44 were non-distressed sales. Now 2 out of 3 homes are distress sales although the ratio between foreclosure sales and short sales has changed somewhat, beginning to lean toward short sales.
Overall, foreclosure sales fell 10.9% year over year, short sales increased 107.1% and non-distressed sales also posted an increase of 29.4% for the same period. Overall unit volume was higher by 18.4% year over year.
Average price per square foot is now $144.25 which is a 12.7% decrease year over year from a high of $165.25. Homebuyers as a result afforded themselves homes on an average 5.7% larger this year than they did the last. Average sales price is now $322,707 down 7.7% from a high of $349,588 last February. Median sales price is $289,000.
Inventory in El Dorado county is at 8 months. Foreclosure inventory is at 2.4 months.
