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Market Flash
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Coldwell Banker Northern California
El Dorado Hills Office
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MarketFlash
August 2010
Overall Assessment
Although the housing market has come a long way over the past year, the recovery is still very fragile. Rarely do recoveries go in a straight line, as much as we’d like them to. Between the expiration of the federal tax credit, slow growth in the economy, high unemployment levels and the normal summer slowdown, it’s possible that the market may pause to catch its breath. As is the case with sales for the month of July, although still robust, they did fall in most of the markets tracked. The sold median price dropped in all markets, as well as the sold average price per square foot in most markets. Interest rates continue to be incredibly attractive, still hovering in the mid 4 range, for conventional financing. With the lower home prices and low interest rates, the home affordability factor continues to be strong for those willing to take advantage of this market.
3 Month Statistics for Local Markets and year-on-year comparison of current month*:
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May.10
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Jun.10
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Jul.10
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Jul.09
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May.10
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Jun.10
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Jul.10
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Jul.09
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May.10
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Jun.10
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Jul.10
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Jul.09
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El Dorado Hills
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Folsom
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Cameron Park
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Sold median price
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$438K
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$467K
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$450K
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$480K
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$284K
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$360K
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$351K
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$375K
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$224K
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$335K
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$315K
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$297K
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Sold listings
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62
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66
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54
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73
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96
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74
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52
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69
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26
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22
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25
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22
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Sold Avg. $ sq ft.
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$161
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$161
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$167
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$157
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$169
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$171
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$161
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$178
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$129
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$159
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$139
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$154
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Active listings
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344
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352
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368
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352
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387
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316
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397
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294
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136
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108
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134
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106
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Mos. of inventory
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5
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5
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7
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5
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4
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4
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8
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5
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5
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5
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5
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3
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Granite Bay
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Sacto/Rosemont
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Roseville
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Sold median price
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$690K
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$610K
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$475K
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$558K
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$170K
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$169K
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$166K
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$175K
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$253K
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$288K
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$265K
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$289K
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Sold listings
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23
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29
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35
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26
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68
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56
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39
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56
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189
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180
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176
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156
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Sold Avg. $ sq ft.
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$208
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$204
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$170
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$199
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$128
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$121
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$116
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$130
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$139
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$143
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$140
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$147
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Active listings
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168
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193
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173
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202
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279
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259
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315
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152
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794
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698
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809
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565
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Mos. of inventory
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7
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7
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7
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8
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4
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4
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8
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3
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4
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4
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4
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3
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My Summer Project
Outdoor living rooms are gaining popularity as more homeowners are finding peace in their own backyards. I decided it was time for the Dean family to create some peace in our backyard and maybe build some home equity at the same time. So, with advice from friends, many a trip to Home Depot and a lot of sweat, our outdoor living room is now complete. I highly recommend adding an outdoor living room to your backyard should the idea move you. It adds square footage to your living space for those months that we can comfortably live outdoors.
Referrals are the lifeline of my business and I truly appreciate your confidence in me. Should you run across anyone looking to buy or sell real estate, I would love to help. Just give me a call and I will provide prompt, professional real estate service!
I’m never too busy for you or your referrals!
*Based on info from Metrolist Services using residential properties only. Due to MLS reporting methods & allowance reporting policy, this data is only information & may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.
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