Amador County Real Estate Market - October, 2006
Posted by John Lockwood on November 28th, 2006
When we compare the market to the year before, Amador County’s real estate market in October showed a pattern of slowing similar to what we’ve seen in other parts of Northern California. Average home prices and average sold price per square foot both dropped during the period — however the median sale price was higher this year than last, suggesting that most buyers this year are opting for “more home” than last — possibly because falling prices enable them to buy more.
The median sale price was up 7.5% from October to October, from $339,000 last year to $364,500 this year. At the same time, the average sold price dropped some 7.2%, from $397,445 last year to $368,942 this year. The average sold price per square foot dropped 6.9%, from $231 per square foot last October to $215 per square foot this October.
The average time a sold home that did sell in October spent 137 days on the market before selling, as opposed to 111 days on the market on average last October. Fewer units sold this year than last year (38 versus 53, a 28.3% drop in unit volume), and inventory is fairly high currently at 13.3 months.