BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – SEPTEMBER 2012
This is the latest monthly report of our five-year study of bank owned (foreclosure/REO) home sales in El Dorado Hills, CA. This report covers September 2012. For the purposes of simplification, we will use the term foreclosure from this point forward.
If you would like to see all of the foreclosure homes available for sale in El Dorado Hills, select this link. To view the available foreclosure homes you will have check the box marked “are REO/Bank Owned,” then scroll down and check the “El dorado Hills Area” box on the left side of the page and finally select the Search Now (List Your Results or Map Your Results) button at the bottom of the page. EVERY available property will come up. The data is updated daily.
There were six foreclosure homes sold in El Dorado Hills in September, down three from the previous month. All of these sales fall within the normal ranges.
The average days on market increased from 18 the previous month to 20 in September, not a significant change. Three, or 50%, of the foreclosure homes sold in two weeks or less in September, a slightly larger segment than normal.
The six foreclosure homes that sold represent only 9.5% of ALL homes that sold in El Dorado Hills this month. The scarcity of available foreclosure homes is the main reason.
The available inventory of foreclosure homes in El Dorado Hills increased to a 0.5-month supply in September. The inventory level was at a 0.2-month supply level in August, an all time low for our study. This inventory level has only been above a two-month supply one month in the past fifteen.
The inventory for ALL homes available in El Dorado Hills increased to a
2.1-month supply in September. We had a 1.4-month supply in August. Pundits tell us that a 6-month supply is a neutral market, so we continue to have a strong seller’s market for ALL homes in El Dorado Hills, both foreclosure and non-foreclosure.
The average cost-per-square-foot for foreclosure homes dropped to $132, down from $153 in August. The average cost-per-square-foot for ALL homes sold in El Dorado Hills in September edged up to $163, the second highest figure in the past fifteen months.
The overall sales price for foreclosure homes was 98% of the final asking price and 95.8% of the original asking price. Only one buyer paid the full asking price or more in September for their foreclosure home, an unusually small segment.
When based on the cost-per-square-foot for ALL homes sold, foreclosure homebuyers paid $ 31 less per square foot in September. When applied to the purchase of a 2,500 square foot home, that represents a savings of
$ 77,500: a tidy sum.
If you have any questions about purchasing any home in El Dorado Hills, an El Dorado Hills foreclosure, or a foreclosure Home anywhere in the area, feel free to give us a call (916) 337-0658. If you would like to search for foreclosure homes in your section of the greater Sacramento area, go to www.BuyYourVilla.com
To view the data for BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – SEPTEMBER 2012 see the chart below.