Real Estate Investing:El Dorado County Real Estate Market Report

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The real estate market in El Dorado is not booming, pretty slow as sales have declined. In El Dorado County for March 2009 there were 1,171 single family homes for sale.  Total home sales increased over last year at this same time but not by much. And the average price per square foot went down slightly over last month.

142 offers were accepted in El Dorado County for single family homes for sale.

111 homes sold in March for all of El Dorado County of which 55 were Foreclosures and 16 were Short Sales.  The average sold price of 7,099 with 2,335 square feet and took 82 days on the market to sell. This is down from last month. Foreclosure inventory is at 2.7 months worth of inventory, a real low number of foreclosures on the market which typically means a turn around from a buyer’s market to a seller’s market.

I believe there will be more foreclosures for sale since the banks are still holding inventory that is not for sale, yet.

Taking a look back for El Dorado County real estate sales including single family homes, condos and new homes for the year so far:
El Dorado County

104 homes sold in Feb. 2008 for an average sales price of 6,750

97 Homes sold in Jan. 2009 for an average sales price of 9,000

125 homes sold in Feb. 2009 for an average sale price of 5,000

This represents -20.10% from the final real estate figures of Last year and this year.

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