Amador County Real Estate Market Update
Posted by John Lockwood on September 12th, 2007
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.