Amador County - New statistics from the foreclosure tracking organization DataQuick reveal that repossessions were the driving force behind the real estate market in December. Home sales in the region finished strong in December after more than a year of dismal statistics and record lows. However, this latest surge in home sales is still among the lowest in a decade . 3,748 December escrows closed in Amador, El Dorado, Nevada, Placer, Sutter, Yolo and Yuba counties alone. There were 29 sales at a median home price of $270,000 in Amador County, down 18.6 percent from one year ago. Neighboring Placer County saw 546 sales at a median price of $317, 000, down 15 percent and the lowest median since March of 2003. El Dorado County had 160 closings at a median price of $330,000, down 24.5 percent from December 2007. Home sales were far above statistics from one year ago in every county except El Dorado and Nevada, which have the region’s two highest median home prices. Sacramento County’s median home price peaked at just over $387,000. According to DataQuick analysts, the rise in purchases is due to the high amount of bank repos following the wave of foreclosures in 2008. Homes have once again become affordable for thousands of first-time homebuyers through the capitol region. Alex Lane (This email address is being protected from spambots. You need JavaScript enabled to view it.).
Wednesday, 21 January 2009 01:53
Foreclosures Drive Amador's Real Estate Market
Amador County - New statistics from the foreclosure tracking organization DataQuick reveal that repossessions were the driving force behind the real estate market in December. Home sales in the region finished strong in December after more than a year of dismal statistics and record lows. However, this latest surge in home sales is still among the lowest in a decade . 3,748 December escrows closed in Amador, El Dorado, Nevada, Placer, Sutter, Yolo and Yuba counties alone. There were 29 sales at a median home price of $270,000 in Amador County, down 18.6 percent from one year ago. Neighboring Placer County saw 546 sales at a median price of $317, 000, down 15 percent and the lowest median since March of 2003. El Dorado County had 160 closings at a median price of $330,000, down 24.5 percent from December 2007. Home sales were far above statistics from one year ago in every county except El Dorado and Nevada, which have the region’s two highest median home prices. Sacramento County’s median home price peaked at just over $387,000. According to DataQuick analysts, the rise in purchases is due to the high amount of bank repos following the wave of foreclosures in 2008. Homes have once again become affordable for thousands of first-time homebuyers through the capitol region. Alex Lane (This email address is being protected from spambots. You need JavaScript enabled to view it.).
