Home prices in California are expected to drop 31.7 percent this year to a median $381,000, and to fall another 6 percent in 2009, according to a California Association of Realtors forecast released this week.

The median price of a resale single-family detached home was $558,670 in 2007, and is expected to be $358,000 in 2009. For the month of August 2008, the association reported that the median resale price was $350,140, a 40.5 percent decline compared to the August 2007 median price of $588,670.

Sales of single-family resale homes in California dropped 26 percent in 2007, and are expected to rise 12 percent this year to 395,600 and rise another 12.5 percent in 2009 to 445,000.

During January - September 2008, 87 homes sold in Eldorado (vs. 112 during the same period 2007) and 27 sold in the Hwy. 285 area (vs. 43 during the same period 2007).

The median selling price during January - September 2008 in Eldorado was $362,000 (vs. $411,000 during the same period 2007) and the median selling price in the Hwy. 285 area was $536,000 (vs. $550,000 during the same period 2007).

On October 1st in the Eldorado/285 area, there were 11 more active homes and 4 fewer under contract homes that there were on September 1st.

During January - September 2008, 140 listings either expired or were withdrawn from the market in the Eldorado/285 area (vs. 110 during the same period 2007).

Check this site at the beginning of each month for the most up-to-date information on asking and selling prices in the Eldorado/285 area.

Eldorado Area Homes Sold, January 1 - September 30, 2008

Eldorado Area Active and Under Contract Homes, October 1, 2008

NOTE: This representation is based in whole or in part on data supplied by the Santa Fe Association of REALTORS or its Multiple Listing Service for the periods indicated above. Neither the Association nor its M.L.S. guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its M.L.S. may not reflect all real estate activity in the market.