This month's Facts and Trends Report for El Dorado Hills Home Sales.
Though our weather keeps us guessing, the Spring season is here as far as home buying and selling. Our photographers and stagers are really busy so things are definitely happening here in El Dorado Hills! Low inventory is still an issue for home buyers. We are down 32% over last March! There are a lot of new home communities around the Valley but they are taking a long time to build because of a shortage of contractors and workers. For sellers, homes priced and showing well are selling quickly. Our months of inventory indicate a strong seller's market in all but the $1M + price point.
Here is a breakdown for you on our different price points:
$499K and under - There were only 2 homes for sale, 9 pending sales and 9 sales. You might wonder how that can be but people are just buying up listings left over from previous months. The average price per square foot of those sales was $262 (up 9.2% over last March) and the Months of inventory for this range was .2.
$500K - $749K - There were 43 homes for sale, 61 pending sales and 50 sales. Average price per square feet for those 25 sales was $233, up 7.4% from last March. Months of inventory was .9
$750K - $999K - There were 40 homes for sale, 16 pending sales and 14 sales. The average price per square foot for those sales was $221, down 9.1% from last March. Months of inventory was 2.9.
$1 Mil+ - There were 47 homes for sale, 15 pending sales and 6 sales. Average price per square foot for those 6 sales was $270, down from $277 last March (2.5%). Months of inventory is showing 7.8 indicating a buyer's market.
If you'd like to see the charts for one of these price points let me know. To see Folsom's Market Trends visit my website. Email me to receive this in your inbox each month.
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