Placerville Real Estate Blog

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.