Amador County Real Estate - Market Update
Posted by John Lockwood on June 3rd, 2007
Real estate sales in May of 2007 remained slow compared to last year, with falling prices and rising inventory. Forty-five homes sold this May, down 18% from last year’s 55 units sold in May.
The average home listed for $395,029, and sold for $379,828, or 96% of list. This number is consistent with last year, and as we’ve noted elsewhere, tends to be resilient despite what else the market is doing.
In other indicators, we see a slowing market. This year’s average price was down 5.4% from last year’s average selling price of $401,560. This May’s median was down significantly more, 13.5%, with this year’s median coming in at $345,990 and last year’s being $399,900. The average selling price per square foot was down 5.8%, at $210 per square foot this year versus $223 per square foot last year.
This May a home took longer to sell in Amador County, with the average home being on the market six months (184 days), as opposed to just over four months (127 days) last year. As you might expect, inventory is also high at 15.3 months.