Comparing the first half of 2006 to the first half of 2007 for Ione, California, we find the Ione real estate market characterized by a marked decline in prices — that’s the bad news.  The good news is that these price drops seem to be having an effect on the inventory on Ione, which is fairly low compared to the rest of Amador County.

Thirty-five residential units sold in the first six months of 2006, and by the first six months of 2007, that number had increased to thirty-nine units.  This year’s average home sold for $281,484, a 15.9% drop from last year’s average sold price of $334,814.  The sold price per square foot was not far from that — it dropped 15.2%.  The median sale price from January to June of 2007 was $305,000, down 9% from last year’s median price of $335,000.  The time it takes to sell, expressed as average days on market, have gone up to over six months (187 days), a 53% increase from last year’s average of 122.

There are currently sixty-five units active in Ione, and with 80 selling over the course of the last year, this puts inventory at ten months.  This is a high figure, but low compared to the rest of Amador County, which has an average inventory of 14.8 months.

One of the best things about living in El Dorado County is that some world class wine is just a few minutes away. You don’t have to sit in traffic for hours to go to Napa. Believe me. I know wine.

If you haven’t tried what’s growing in your own backyard, you should.

Zinfandels are by far the most famous wines here, however the weather conditions make the reds less fruity, less Lodi-like. (Although there’s a time and place for valley wine as well!) Just recently I went wine-tasting in Amador County near Plymouth. Maps for Amador County are here and El Dorado County are here. Or just follow Highway 49, turn off at Plymouth and follow the signs. It’s a beautiful drive. And some wineries have first crushes right now!

Just another reason to live up here! Hey, you’ll always have somewhere to take your house-guests!

Vicki Agregado-Babcock and I will be holding our 3400 Fort Jim Road, Placerville (map) open on Sunday, September 23, from 1PM to 4PM. This is a really beautiful 4 bedroom home with a pool on almost four quite, pine-studded acres.

Please join us and check out this immaculate home.  Double click on the video below to preview it.

Note:  visit our open house and receive a free list of other homes being held open in Western El Dorado County this Sunday.

Prices fell in El Dorado County in August from the year earlier, with moderately falling unit volume. This year’s average home sold for $520,956, a nine per cent drop from last year’s average of $572,647. This year’s home being slightly bigger than last year’s the sold price per square foot dropped somewhat more dramatically, 11.5%, from $255.87 last August to $226.40 this August.  The median price fell 14.8%, from $502,000 to $427,500.

This year we saw our first significant foreclosure activity in El Dorado County in some time. There were no foreclosures among the 176 units that closed escrow recorded in the MLS for August of 2006. A year later, nineteen of the 164 units (11.6%) that sold were bank-owned properties. Of the 1797 properties currently active in El Dorado County, 96 (5.3%) are bank owned.

Over the last twelve months, an average of 155 units sold every month, so the 1797 active units we have now represents 11.6 months of inventory.

… would make me write more on this blog. But, nope. First post here. I’ve been spending time hanging out at the other blogs of Elite Properties.

First of all, let me just say I love it here. If you are, like I was, living in Sacramento and concerned about making the move up the hills and move to Amador or El Dorado counties, be assured that you will love it if you like waking up to birds in the background and squirrels. And not just if you’re socially anxious.

Where’s the second of all?

Keep reading. Check back often!

Amador County’s real estate market in August picked up some in terms of units sold, but there is still quite a bit of unsold inventory remaining.

This August there were 47 residential units sold through the MLS, up 6.8% from last August and besting the running monthly average over the last twelve months, which was about 38 per month.

The average home sold for $379,159 in August, up 8.8% from last year’s average of $348,381.  So far so good, but this year’s average home was 16.8% bigger than last year’s, with the upshot being that the average sold price dropped 8.8%, which is a fairly typical year on year depreciation compared to Sacramento, El Dorado, and other nearby markets.

The median price dropped 14.2% from year to year, from $349,500 last August to $300,000 this August.  Average days on market are up 36.5%, from 134 last August to 183 this August — yes, that’s six months alright, and you can blame the number of homes competing for that.  Inventory remains high in Amador County at 14.76 months.