This post continues my study of REO (Bank Owned) home sales in El Dorado Hills and Folsom, CA. This time we will look at September 2008 sales.
The number of REO properties sold in the study area went back up to 40. (In July 45 REO properties sold and in August that number dipped to 25.)
The average days on market dropped to 51. Although there were two homes sold that had been on the market for over 200 days and another three that were active for over 100 days, a full 35% of the REO homes sold were on the market for 14 days or less. Obviously, REO properties are moving rapidly and some of the "stale" listings are clearing off the market as well.
Of the 100 homes sold in September, 40 were REO proerties. 36.4% if the total.
A full 47.5% of the REO properties sold for more than the final asking price, one for 114.08% of the asking price. One home sold for 86.68% of the final asking price.
The cost per square foot for all homes sold dropped to $ 190.00, the second month in a row that number was below $ 200.00. The cost per square foot of REO sold properties was $ 173.00, 91.1% of average price. REO properties remain an excellent buy.
Specific data follows.
| Folsom/El Dorado Hills Sold REO Properties September 2008 | ||||||||
| DOM | Original Listing Price | Listing Price at Time of Offer | Sold Price | SP as % Original Price | SP as % Final Price | |||
| 1 | Fol | 27 | $ 198,900.00 | $ 192,900.00 | $ 185,000.00 | 93.01% | 95.90% | |
| 2 | Fol | 128 | $ 266,000.00 | $ 219,900.00 | $ 219,900.00 | 82.67% | 100.00% | |
| 3 | Fol | 0 | $ 299,900.00 | $ 299,900.00 | $ 299,900.00 | 100.00% | 100.00% | |
| 4 | Fol | 18 | $ 279,900.00 | $ 279,900.00 | $ 300,000.00 | 107.18% | 107.18% | |
| 5 | Fol | 1 | $ 299,900.00 | $ 299,900.00 | $ 304,000.00 | 101.37% | 101.37% | |
| 6 | Fol | 10 | $ 305,900.00 | $ 305,900.00 | $ 316,000.00 | 103.30% | 103.30% | |
| 7 | Fol | 21 | $ 299,900.00 | $ 299,900.00 | $ 325,000.00 | 108.37% | 108.37% | |
| 8 | EDH | 12 | $ 284,900.00 | $ 284,900.00 | $ 325,000.00 | 114.08% | 114.08% | |
| 9 | Fol | 12 | $ 314,900.00 | $ 314,900.00 | $ 330,000.00 | 104.80% | 104.80% | |
| 10 | Fol | 9 | $ 335,000.00 | $ 335,000.00 | $ 336,000.00 | 100.30% | 100.30% | |
| 11 | Fol | 225 | $ 350,000.00 | $ 350,000.00 | $ 337,500.00 | 96.43% | 96.43% | |
| 12 | EDH | 32 | $ 349,900.00 | $ 349,900.00 | $ 347,900.00 | 99.43% | 99.43% | |
| 13 | EDH | 32 | $ 359,000.00 | $ 359,000.00 | $ 350,000.00 | 97.49% | 97.49% | |
| 14 | EDH | 96 | $ 391,900.00 | $ 368,900.00 | $ 360,000.00 | 91.86% | 97.59% | |
| 15 | Fol | 10 | $ 359,900.00 | $ 359,900.00 | $ 365,000.00 | 101.42% | 101.42% | |
| 16 | FOl | 54 | $ 419,900.00 | $ 399,900.00 | $ 370,000.00 | 88.12% | 92.52% | * |
| 17 | EDH | 20 | $ 389,900.00 | $ 389,900.00 | $ 389,000.00 | 99.77% | 99.77% | |
| 18 | EDH | 12 | $ 391,400.00 | $ 391,400.00 | $ 400,000.00 | 102.20% | 102.20% | |
| 19 | EDH | 40 | $ 401,000.00 | $ 401,000.00 | $ 401,000.00 | 100.00% | 100.00% | |
| 20 | EDH | 47 | $ 429,899.00 | $ 409,499.00 | $ 405,000.00 | 94.21% | 98.90% | |
| 21 | EDH | 208 | $ 499,900.00 | $ 457,900.00 | $ 415,000.00 | 83.02% | 90.63% | |
| 22 | EDH | 10 | $ 389,900.00 | $ 389,900.00 | $ 418,000.00 | 107.21% | 107.21% | |
| 23 | EDH | 149 | $ 569,900.00 | $ 459,900.00 | $ 420,000.00 | 73.70% | 91.32% | * |
| 24 | EDH | 9 | $ 399,000.00 | $ 399,900.00 | $ 420,000.00 | 105.26% | 105.03% | |
| 25 | EDH | 88 | $ 529,000.00 | $ 475,000.00 | $ 430,000.00 | 81.29% | 90.53% | |
| 26 | Fol | 63 | $ 475,000.00 | $ 429,900.00 | $ 434,900.00 | 91.56% | 101.16% | |
| 27 | EDH | 32 | $ 449,000.00 | $ 449,000.00 | $ 439,000.00 | 97.77% | 97.77% | |
| 28 | EDH | 79 | $ 529,900.00 | $ 478,234.00 | $ 450,000.00 | 84.92% | 94.10% | |
| 29 | EDH | 35 | $ 469,900.00 | $ 459,900.00 | $ 461,000.00 | 98.11% | 100.24% | |
| 30 | EDH | 45 | $ 527,900.00 | $ 482,900.00 | $ 485,000.00 | 91.87% | 100.43% | |
| 31 | EDH | 78 | $ 479,000.00 | $ 479,000.00 | $ 486,000.00 | 101.46% | 101.46% | |
| 32 | EDH | 5 | $ 499,000.00 | $ 499,000.00 | $ 500,000.00 | 100.20% | 100.20% | |
| 33 | Fol | 14 | $ 529,900.00 | $ 529,900.00 | $ 550,000.00 | 103.79% | 103.79% | |
| 34 | Fol | 94 | $ 719,000.00 | $ 629,000.00 | $ 565,000.00 | 78.58% | 89.83% | |
| 35 | EDH | 122 | $ 654,900.00 | $ 569,000.00 | $ 576,500.00 | 88.03% | 101.32% | * |
| 36 | Fol | 12 | $ 588,000.00 | $ 588,000.00 | $ 630,000.00 | 107.14% | 107.14% | |
| 37 | Fol | 68 | $ 695,000.00 | $ 695,000.00 | $ 649,000.00 | 93.38% | 93.38% | |
| 38 | Fol | 95 | $ 749,900.00 | $ 749,900.00 | $ 650,000.00 | 86.68% | 86.68% | |
| 39 | EDH | 13 | $ 635,000.00 | $ 635,000.00 | $ 655,000.00 | 103.15% | 103.15% | |
| 40 | EDH | 16 | $ 719,900.00 | $ 719,900.00 | $ 731,000.00 | 101.54% | 101.54% | |
| AVE. | 51 | 94.1% | 97.2% | |||||
| REO Sold Cost Per Square Foot: | $ 173.00 | 91.1% | ||||||
| Total Sold Cost Per Square Foot: | $ 190.00 | |||||||
| Total Number of REO Homes Sold in November for area: 45 | 40 | 36.4% | ||||||
| Total Number of Homes Sold: 136 | 110 | |||||||
Comments (0)Subscribe to CommentsComment