El Dorado County Real Estate — 2006 in Review
Posted by John Lockwood on January 8th, 2007
It’s been a few days since I published the Sacramento County Year In Review on my Sacramento site, so I thought I’d follow that up with a brief Year in Review for El Dorado County Real Estate.
El Dorado County followed a much different pattern from what we saw in Sacramento. The raw data is below so you can make up your own mind, but let me try to summarize it. I would say that El Dorado’s prices continued to rise, and at a faster rate, throughout 2005, and fell in 2006 at a slower rate, than Sacramento County. Also, the shift in the market from increasing prices to decreasing happened later in the year.
As a result of these differences, the year on year appreciation numbers are positive for most quarters of 2006, and positive overall. It’s only in the third quarter that we start to see the numbers go down, as shown below. I expect we’ll continue to see declines in 2007, though whether those declines will turn out to be “hard” or “soft” I leave to the good pundits at Sacramento Landing (presumably, since we don’t have an El Dorado Landing).
Meanwhile, if you want to see the world through rose colored glasses, tell your friends that the average sale price for home in El Dorado County appreciated 4.2% in 2006, while the median sale price appreciated 5.3%. (Just don’t tell them that unit volume is off 30.6% — that’ll ruin it!)
Here are the numbers. As always, information is based on MLS data and is believed accurate but has not been verified.
For average prices:
| El Dorado County Average Residential Prices | |||
| Period | 2005 Average Sold Price |
2006 Average Sold Price |
Change |
| Q1 | $505,820 | $537,879 | +6.3% |
| Q2 | $531,542 | $552,315 | +3.9% |
| Q3 | $537,575 | $571,231 | +6.3% |
| Q4 | $520,424 | $511,309 | -1.8% |
| Overall | $522,865 | 545,032 | +4.2% |
For median prices:
| El Dorado County Median Residential Prices | |||
| Period | 2005 Median Sold Price |
2006 Median Sold Price |
Change |
| Q1 | $498,258 | $490,000 | -1.7% |
| Q2 | $479,500 | $515,000 | +7.4% |
| Q3 | $485,000 | $499,250 | +2.9% |
| Q4 | $475,873 | $450,000 | -5.4% |
| Overall | $470,000 | $495,000 | +5.3% |
For unit volume:
| El Dorado County Residential Unit Volume | |||
| Period | 2005 Units Sold | 2006 Units Sold | Change |
| Q1 | 700 | 459 | -34.4% |
| Q2 | 817 | 601 | -26.4% |
| Q3 | 778 | 494 | -36.5% |
| Q4 | 536 | 411 | -23.3% |
| TOTAL | 2831 | 1965 | -30.6% |