This post completes a one year study of REO Sales in El Dorado Hills and Folsom, California. Each post has discussed one months sales data. This post covers July Sold REOs for 2008.
There were 45 REO homes sold in July, an increase of 50% over June. However, the total number of homes sold also increased from 89 in June to 136 in July, a similar increase in activity. In essence the ratio of about one third of all homes sold being REO properties continues.
Twenty-One, or 46.6%, of the REO properties sold for the asking price OR MORE. Multiple offers are becoming more common and buyers have to offer more than the asking price to ensure that they get the home that they want.
Note that although the average days-on-market increased from 70 in June to 72 in July, a full 28.8% of the REO properties sold in fourteen days or less. The REO market remains strong.
AN important indicator of value is the sold price per square foot. In July the price per square foot for REO properties was $ 181 with the same statistic for all homes sold at $ 200. REO properties provide a 9.5% overall savings (condition issues are not quantified here).
| DOM | Original Listing Price | Listing Price at Time of Offer | Sold Price | SP as % Original Price | SP as % Final Price | ||
| 1 | Fol | 48 | $ 264,900.00 | $ 199,900.00 | $ 185,000.00 | 69.84% | 92.55% |
| 2 | Fol | 13 | $ 182,500.00 | $ 182,500.00 | $ 209,000.00 | 114.52% | 114.52% |
| 3 | Fol | 111 | $ 239,900.00 | $ 239,900.00 | $ 214,000.00 | 89.20% | 89.20% |
| 4 | Fol | 1 | $ 229,900.00 | $ 229,900.00 | $ 245,500.00 | 106.79% | 106.79% |
| 5 | Fol | 113 | $ 339,900.00 | $ 315,900.00 | $ 275,000.00 | 80.91% | 87.05% |
| 6 | Fol | 56 | $ 305,900.00 | $ 289,900.00 | $ 278,000.00 | 90.88% | 95.90% |
| 7 | Fol | 218 | $ 274,900.00 | $ 274,900.00 | $ 278,000.00 | 101.13% | 101.13% |
| 8 | Fol | 48 | $ 319,900.00 | $ 289,900.00 | $ 289,900.00 | 90.62% | 100.00% |
| 9 | EDH | 30 | $ 285,500.00 | $ 285,500.00 | $ 300,000.00 | 105.08% | 105.08% |
| 10 | Fol | 235 | $ 294,900.00 | $ 294,900.00 | $ 305,000.00 | 103.42% | 103.42% |
| 11 | Fol | 107 | $ 369,900.00 | $ 351,500.00 | $ 310,000.00 | 83.81% | 88.19% |
| 12 | EDH | 4 | $ 334,900.00 | $ 334,900.00 | $ 334,900.00 | 100.00% | 100.00% |
| 13 | Fol | 148 | $ 449,900.00 | $ 359,900.00 | $ 345,000.00 | 76.68% | 95.86% |
| 14 | EDH | 53 | $ 383,900.00 | $ 344,900.00 | $ 350,000.00 | 91.17% | 101.48% |
| 15 | Fol | 12 | $ 324,900.00 | $ 324,900.00 | $ 360,000.00 | 110.80% | 110.80% |
| 16 | EDH | 65 | $ 420,000.00 | $ 385,000.00 | $ 366,000.00 | 87.14% | 95.06% |
| 17 | Fol | 51 | $ 420,000.00 | $ 389,000.00 | $ 370,000.00 | 88.10% | 95.12% |
| 18 | Fol | 19 | $ 395,000.00 | $ 395,000.00 | $ 376,000.00 | 95.19% | 95.19% |
| 19 | EDH | 87 | $ 414,900.00 | $ 399,900.00 | $ 380,000.00 | 91.59% | 95.02% |
| 20 | Fol | 9 | $ 414,900.00 | $ 414,900.00 | $ 299,900.00 | 72.28% | 72.28% |
| 21 | EDH | 114 | $ 445,000.00 | $ 404,500.00 | $ 408,000.00 | 91.69% | 100.87% |
| 22 | Fol | 203 | $ 420,000.00 | $ 420,000.00 | $ 410,000.00 | 97.62% | 97.62% |
| 23 | EDH | 5 | $ 425,000.00 | $ 425,000.00 | $ 425,000.00 | 100.00% | 100.00% |
| 24 | Fol | 64 | $ 529,900.00 | $ 529,900.00 | $ 450,500.00 | 85.02% | 85.02% |
| 25 | EDH | 7 | $ 439,900.00 | $ 439,900.00 | $ 453,000.00 | 102.98% | 102.98% |
| 26 | EDH | 105 | $ 554,000.00 | $ 509,500.00 | $ 475,000.00 | 85.74% | 93.23% |
| 27 | EDH | 208 | $ 542,000.00 | $ 519,900.00 | $ 477,000.00 | 88.01% | 91.75% |
| 28 | Fol | 14 | $ 480,000.00 | $ 480,000.00 | $ 480,000.00 | 100.00% | 100.00% |
| 29 | EDH | 14 | $ 459,000.00 | $ 459,000.00 | $ 485,000.00 | 105.66% | 105.66% |
| 30 | Fol | 143 | $ 534,900.00 | $ 514,900.00 | $ 490,000.00 | 91.61% | 95.16% |
| 31 | EDH | 7 | $ 494,900.00 | $ 494,900.00 | $ 500,000.00 | 101.03% | 101.03% |
| 32 | EDH | 52 | $ 519,900.00 | $ 519,900.00 | $ 514,000.00 | 98.87% | 98.87% |
| 33 | EDH | 18 | $ 459,900.00 | $ 459,900.00 | $ 525,000.00 | 114.16% | 114.16% |
| 34 | Fol | 141 | $ 534,900.00 | $ 534,900.00 | $ 540,000.00 | 100.95% | 100.95% |
| 35 | Fol | 75 | $ 634,500.00 | $ 614,500.00 | $ 575,000.00 | 90.62% | 93.57% |
| 36 | EDH | 120 | $ 681,900.00 | $ 599,900.00 | $ 596,500.00 | 87.48% | 99.43% |
| 37 | EDH | 227 | $ 649,000.00 | $ 649,000.00 | $ 620,000.00 | 95.53% | 95.53% |
| 38 | EDH | 3 | $ 619,900.00 | $ 619,900.00 | $ 620,000.00 | 100.02% | 100.02% |
| 39 | Fol | 34 | $ 675,000.00 | $ 626,000.00 | $ 630,000.00 | 93.33% | 100.64% |
| 40 | EDH | 6 | $ 664,900.00 | $ 664,900.00 | $ 664,900.00 | 100.00% | 100.00% |
| 41 | Fol | 52 | $ 729,900.00 | $ 694,900.00 | $ 665,000.00 | 91.11% | 95.70% |
| 42 | EDH | 113 | $ 769,900.00 | $ 731,405.00 | $ 725,000.00 | 94.17% | 99.12% |
| 43 | EDH | 18 | $ 776,000.00 | $ 776,000.00 | $ 765,000.00 | 98.58% | 98.58% |
| 44 | EDH | 12 | $ 720,000.00 | $ 720,000.00 | $ 800,000.00 | 111.11% | 111.11% |
| 45 | EDH | 70 | $ 1,023,000.00 | $ 984,900.00 | $ 900,000.00 | 87.98% | 91.38% |
| AVE. | 72 | 94.7% | 98.2% | ||||
| REO Sold Cost Per Square Foot: | $ 181.00 | 90.5% | |||||
| Total Sold Cost Per Square Foot: | $ 200.00 | ||||||
| Total Number of REO Homes Sold in November for area: 45 | 33.1% | ||||||
| Total Number of Homes Sold: 136 | |||||||
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