El Dorado County Real Estate - Market Update
Posted by John Lockwood on October 2nd, 2007
What the heck happened in September?
Will someone tell me what happened to unit volume in September? In El Dorado County it was down 25.3% from last year, while in Sacramento County it was down 43%.
I don’t know about you, but for me, selling fewer houses is bad for business. 
OK, ok, on to the El Dorado County numbers:
The average home sold for $494,933 in September, down 11.3% from last year’s average of $557,866. The median price dropped 10.2%, from $484,250 last year to $435,000 this year. As if reading its mind, the sold price per square foot also dropped 10.2%, from $250.61 last year to $225.07 this year.
As we mentioned already, unit volume dropped 25.7% — the actual numbers involved are 144 units last September, and 107 units this September. On the plus side, there are 157 units pending, so it’s looking like in October / things may pick up.
Average days on market remained constant at 76 days in September of 2006 and September 2007.
Bank owned foreclosures (REOs) accounted for less than one percent of the units sold in September 2006 (one unit out of 144). This September, of 107 units sold, eleven were REOs (10.3%). Of currently active properties, 5.8% are Real Estate Owned.