El Dorado Hills Market Statistics - June 2011
El Dorado Hills Market Statistics for June 2011 are out. This month I've decided to break down our statistics based on the three major types of properties currently available - Bank Owned (REO), Short Sale, and Regular Sale (Non REO, Non Short Sale). I am a firm believer in the theory that "Real Estate" is local and am always trying to prove that to you - my readers and clients. When you hear or read about real estate news on the country as a whole beware. If you are writing an offer or deciding on a listing price, you will want to know what is happening in the direct vicinity of the home of interest to you.
What is on the market as you can see is not all short sale and bank owned listings. The majority of our homes for sale in El Dorado Hills are still regular sales with very few bank owned at this time.
There were 74 total sales in El Dorado Hills in June - 19 Bank Owned, 17 Short Sales, and 38 Regular Sales. As you can see in the chart above, the bank owned homes are still a big seller and in fact are selling as fast as they come on the market to the point where the inventory is being depleted to almost nothing. Short Sales are just over 3 month worth of inventory and Regular Sales have just over 4 months of inventory. (Listings/Sales=Months of inventory)
Looking at the next chart, we can see that the listing prices verses the sold prices are pretty close on the bank owned and the short sales indicating buyers and sellers are closer in their thinking. On regular sales we are still seeing the average listing price much higher than what is actually selling. This is not to say that buyers are getting the homes at that much lower a price but that sellers still want more for their homes than buyers are willing to pay.
The chart below shows the average original list price (before any price drops) to selling price and the average listing price (price it is listed at when the offer is accepted) to selling price for all property types. Low ball offers are not a common occurrence in El Dorado Hills!
These are El Dorado Hills Market Statistics based on June 2011 single family homes and will look quite different for Folsom, Cameron Park, or any other areas within our state. They will even look different from one neighborhood to the next. So remember to look at sales statistics in the area before you put in an offer on a home you want to buy or decide to list your home. The closer to the home the better, as market value derived from comparable sales will be key to getting what you want.
Visit my website for a 15 month look at El Dorado Hills Market Trends.
I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.
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By DeeDee Riley 2011 *All Rights Reserved*El Dorado Hills Market Statistics for June 2011 Sales
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