Inventory is extremely low in El Dorado Hills so home prices have risen here in double digit figures. Here is a look at what was selling in El Dorado Hills in May 2018 with the high and low home sales along with sales statistics for the month. May is considered the best month for sellers and it was indeed a great month for El Dorado Hills as all price ranges, including the $1M + range, indicated a seller's market. Keep in mind that numbers and statistics used here reflect MLS sales only. Very few of the new construction homes come through the MLS. As long as our total inventory remains low, I believe our home prices will continue to rise.
Highest Selling Home - The highest selling home in El Dorado Hills for May 2018 was this amazing custom home in the Watermark neighborhood on Groth Ct. It was built on roughly 1.5 acres with approximately 5857 sq. ft., 4-5 bedrooms, 5 full bathrooms and 1 half baths. It had panoramic views of south fork of the American River and Folsom Lake. Lavish upgrades included an elevator, wine cellar, stone fireplace, professional appliances, wood beam ceiling, outdoor kitchen and a pool/spa. It sold for $1,850,000 which equates to $315.86 per square foot in just Days on Market.
Lowest Selling Home - The lowest selling home in El Dorado Hills for May 2018 was this single story on Kirkwood Dr. in the Bass Lake Village neighborhood. It was built in 1995 on approximately .183 acres with 1425 square feet, 3 bedrooms, 2 bathrooms and a 2-car garage. It was clean and updated and views of the foothills and Bass Lake. There are no Mello Roos and no HOA dues in this neighborhood. It sold for $442,000 (equivalent to $310 per square foot) in just 12 days on market at 100.68% list to sale price!
Here are some other statistics for you on the May 2018 Home Sales and what's selling in El Dorado Hills:
Sales: 107 - Single Family Homes
Average square foot selling price: $256.88
Average selling price: $805,307
Median price: $659,253
Average size: 3,144 square feet
Average Cumulative Days on Market: 35
Average List to Sale Price Ratio: 99.86%
Listings Selling at List or Over: 60 (56%)
Breaking down those 107 sales:
Under $400,000 = 0 sales
$401K - $600K = 39 sales
$601K - $750K = 25 sales
$751K - $1Million = 21 sales
$1Mil and over = 22 sales
I also looked at a few other selling factors to see if they seemed to make much of a difference:
Single Story Homes - of the 107 sales 44 were single story homes. 29 sold for list price or over (66%). Their average days on market was 39. Price per square foot = $275.74 and average list to sale price ratio was 100.28%.
Homes with Pools - of the 107 sales 61 had pools (43 were on the property, 18 were in the community). 32 sold for list price or over with an average 34 days on market and an average list to sale price ratio of 99.72%.
You can search for all El Dorado Hills homes for sale and see our El Dorado Hills Market Trends on my website. If you are thinking of buying (resale or new construction) or selling a home in El Dorado Hills, I would love to help. Call or email me any time!