EL DORADO HILLS REAL ESTATE HOME SALES DATA – MAY 2014
The purpose of this post is to provide those interested in the El Dorado Hills Real Estate market data about that market. This report covers May 2014, and the fourteen previous months.
If you would like to see all homes for sale in El Dorado Hills CA, 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 available El Dorado Hills real estate will come up.
The first chart lists the cost-per-square-foot for all homes sold in El Dorado Hills by month. The cost reported of $ 200 is the third highest reported for the past fifteen months. It was $203 the previous month. The May 2014 number represents an increase of 8.1% over the May 2013 figure.
The second chart shows the level of inventory, (the number of homes for sale, divided by the number of homes sold each month). The May inventory level was at a 2.9-month supply. The same as it was the previous month. Note that for the first six month on the chart it was at a 2.5 –month supply or lower and it has been over that level for the past nine months. It looks like more sellers are entering the market as prices climb back into their comfort zone. Pundits tell us that a six-month inventory is a neutral market.
We can see that the El Dorado Hills real estate market is, and has been for some time, a seller’s market. Real estate in El Dorado Hills remains a good investment and is likely to get better as time goes by.
The third chart shows the average days on market and the selling price as a percentage of asking price. The average home took 53 days to sell in May. As prices increase it is taking longer to sell a home. We suspect that this number to drop during the summer home selling season. The average home sold for 97% of the asking price, back up into the normal range.
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. You can also find past and future reports of the monthly El Dorado Hills Real Estate home sales data on that site.
Post forst published at www.BuyYourVilla.com
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