EL DORADO HILLS, CA HOME SALES DATA – APRIL 2013
The purpose of this post is to provide data to those interested in the El Dorado Hills, CA housing market. This report covers April 2013, and the fourteen previous months.
The first chart lists the cost-per-square-foot for all homes sold in El Dorado Hills by month. Note the upward trend. The $182 reported for April is the highest cost in the past fifteen months and a 15.9% increase over April of 2012.
If you would like to see all of the homes available in El Dorado Hills right now, select this link. It is a two-part process. First check the El Dorado Hills Area box part way down on the left side of the page and then scroll down and click the Search Button at the bottom of the page. All El Dorado Hills homes currently available will come up.
Those potential buyers who decided to remain on the fence, “until prices hit bottom” missed the boat. The challenge will be to find a home that you like and that is available.
The second chart shows the level of inventory, (the number of homes for sale, divided by the number of homes sold each month). The April inventory was at a 1.5-month supply, up from the 1.10-month supply the previous month, but well within the recently defined normal range. Reluctant sellers are entering the market as prices rise into their comfort zone.
Pundits tell us that a six-month inventory is a neutral market. We can see that the El Dorado Hills market is, and has been for some time, a seller’s market.
Over a year ago, we posted an article warning about the pending housing shortage. Now, all you have to do is ask those actively looking for a home.
It is going to get worse. The demand will result in price increases and with those increases; more homeowners will put their homes on the market. Unfortunately, without any new home construction in the past five years or more, we will still be short of inventory.
The third chart shows the average days on market and the selling price as a percentage of asking price. As you can see, homes are selling faster. No longer do well prices homes sit on the market for three months or more. Additionally, homes are selling for a price very close to asking price, which is good news for home sellers.
If you would like to see this data for other cities and towns in our area, feel free to contact us at (916)337-0658 or e-mail Mike@BuyYourVilla.com.
To use the very best Internet property search tool go to www.BuyYourVilla.com.
Originally posted at www.buyyourvilla.com EL DORADO HILLS, CA HOME SALES DATA – APRIL 2013
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