BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – DECEMBER 2012
This is the latest monthly report of our more than five-year study of bank owned (foreclosure/REO) home sales in El Dorado Hills, CA. This report covers December 2012. For the purposes of simplification, we will use the term foreclosure for all homes in this category 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,” in the “Including the above criteria, only show me properties that:” section. 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 site refreshes the data daily.
There were only FOUR foreclosure homes sold in El Dorado Hills in December, two more than sold in November. Since our sample is so small, any statistical analysis is of questionable value.
The subject homes were on the market for an average of 35 days--the data is skewed because one of the homes had been on the market for 105 days,much longer than normal in our current market. The other three foreclosure homes that sold were on the market for less than two weeks.
The foreclosure homes that sold represent only 8.2% of ALL homes that sold in El Dorado Hills this month. The scarcity of available foreclosure homes is the main reason that foreclosure homes are such a small segment of the total.
The available inventory of foreclosure homes in El Dorado Hills was at a 1.0-month supply, down from a 1.5-month supply the previous month.
The inventory for ALL homes available in El Dorado Hills remained at a
1.9-month supply in December, for the second month in a row. It has not exceeded a 2.1-month supply in the past ten months. 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 was $117, down from $ 163 the previous month. Here too this number is skewed because one of the homes sold for $95.26 per square foot and a second sold for $ 103.57 per square foot. It is not within the scope of our study to address the condition of the homes sold, or how that impacts the selling price. We just mention these two sales because they represent one half of the foreclosure homes that sold during the subject month.
The average cost-per-square-foot for ALL homes sold in El Dorado Hills in December increased slightly to $162, up from $158 in November. This December number is ten dollars higher that it was in December of 2011.
The average sales price for foreclosure homes was 103.1% of the final asking price. A full 75% of the foreclosure home buyers paid more than the asking price for their homes.
In essence we can see that the number of foreclosure homes available is very small and they are selling quickly. The overall shortage of inventory makes ours a strong seller’s market and prices in general are increasing.
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 – DECEMBER 2012 see the chart below.
The data follows:
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