Amador County Real Estate - Stop Copying Me.
Posted by John Lockwood on July 4th, 2007
No really, quit it.
I just got done writing about El Dorado County’s real estate sales in June, and noticed in the course of that article that prices aren’t really falling much in El Dorado County. Instead, for the same price, buyers are getting a bigger house. (Another way to put that is to say prices really are falling — it’s just not obvious just by looking at the median price and the average price).
Well, it looks like I spoke too soon on that one, because the same thing is going on in Amador County — only more so! In Amador County, this year’s average price and median prices actually rose from last year, or appeared to. The average home sold in June for $392,504, up .6% from last year’s average of $390,052. Meantime, the median sale price increased 3.4%, from $350,000 last year to $362,000 this year.
But while prices rose moderately, the average size rose dramatically, some 21%, from approximately 1,548 square feet on average to 1,869 square feet on average.
One of the things I don’t really track here is how much land people are getting with these such-and-such “average square feet” homes. It’s not that it’s not an interesting question, it’s just that the MLS doesn’t provide aggregate statistical info for acreage. I suspect people are getting bigger yards in many cases as well as bigger homes.
Meantime, in other indicators, Amador County’s market continues to show signs of stress. Inventory is higher than in any local market we study, at 16.04 months — that’s also up almost one month past last month’s figure of 15.3 months