Cameron Park April Market Update
Influencing the Real Estate Market
The FED lowered the discount rate last week by a quarter point; this does not have a direct impact on mortgage rates but does impact short term loans such as credit cards. Based on comments from the stock market experts, the dark days for the financial companies seem to be behind us and should be getting brighter.
Homes Sales
A total of 18 single family homes sold in Cameron Park during the month of April. Down from the 12 sales last month (50% increase in sales) and the 20 sales in April of 2007 (almost 10% fewer sales). The average sales price for this group of homes is down about 22% from April of last year.
Distressed Property Sales
44% of the April home sales in Cameron Park were distressed properties (bank owned and short sales) with motivated sellers. In April of last year 10% of the single family homes sold were distressed properties. The average price per square foot for distressed property sales in Cameron Park was $163 per square foot. In March of 2008 the average price per square foot was $180. The average size of the homes selling in April increased slightly in April (2001 square feet in March to 2038 in April) so that will contribute slightly to the lower price per square foot sales price in April.
Peek at the future
There are 21 short sales and 13 bank owned properties actively being marketed in Cameron Park today, compared to 17 short sales last month so the Cameron Park market seems to be stabilizing.
|
|
Homes Sold |
|
Average of Square Footage |
|
Average of Price Per Sq Ft |
|
Average of Selling Price |
|
|
Sales Month |
Distressed |
Other |
Distressed |
Other |
Distressed |
Other |
Distressed |
Other |
|
2007 |
28 |
164 |
2,084 |
2,144 |
197 |
226 |
399,417 |
482,268 |
|
Jan |
|
11 |
|
2,413 |
209 |
|
488,364 |
|
|
Feb |
|
11 |
|
2,495 |
223 |
|
564,682 |
|
|
Mar |
|
27 |
|
2,130 |
229 |
|
483,148 |
|
|
Apr |
2 |
18 |
2,080 |
2,191 |
210 |
229 |
411,500 |
499,489 |
|
May |
4 |
11 |
1,932 |
2,434 |
222 |
241 |
424,095 |
584,136 |
|
Jun |
3 |
14 |
2,237 |
1,847 |
178 |
234 |
383,000 |
428,014 |
|
Jul |
1 |
14 |
1,540 |
2,106 |
233 |
249 |
359,000 |
530,036 |
|
Aug |
3 |
17 |
1,828 |
1,993 |
219 |
229 |
385,667 |
449,412 |
|
Sep |
3 |
8 |
2,594 |
2,005 |
186 |
227 |
478,800 |
459,813 |
|
Oct |
2 |
12 |
2,616 |
2,048 |
176 |
220 |
453,000 |
447,358 |
|
Nov |
7 |
10 |
2,112 |
1,844 |
187 |
206 |
388,843 |
373,325 |
|
Dec |
3 |
11 |
1,642 |
2,338 |
192 |
205 |
311,667 |
474,041 |
|
2008 |
18 |
31 |
1,937 |
2,169 |
178 |
201 |
335,833 |
427,129 |
|
Jan |
3 |
4 |
1,757 |
2,526 |
212 |
201 |
371,967 |
497,750 |
|
Feb |
3 |
9 |
1,760 |
2,126 |
184 |
209 |
318,300 |
443,333 |
|
Mar |
4 |
8 |
2,001 |
2,177 |
180 |
183 |
340,625 |
373,250 |
|
Apr |
8 |
10 |
2,038 |
2,058 |
163 |
208 |
326,463 |
427,400 |
|
Grand Total |
46 |
195 |
2,026 |
2,148 |
190 |
222 |
374,537 |
473,503 |
|
Source: MLS Single Family home sales in Cameron Park |
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