Here's a look at our Market Trends for El Dorado Hills, CA. Real Estate is local so look at the charts below to see what things look like here before you jump to any conclutions or start to worry.
Remember it varies by price range so here is a breakdown of our different price ranges:
$499K and under - There were only 5 homes for sale in this range compared to 6 last December and 8 last month. There were 4 sales compared to 12 last year and 7 in November. Being this is our bottom range as prices go up, we are seeing less and less in this range. The average price per square foot of those sales was $256 down from $274 last month but up from $245 last December. Months of inventory was 1.3 months indicating a strong seller's market.
$500K - $749K - There were 27 homes for sale, down from 49 in November and 39 in December of last year. There were 19 sales, down from 34 in November and 51 last year (62.7%)! Average sq. ft. selling price for those 19 sales was $223, up from $211 last December but down from $244 last month. Days on market average was down from 70 last year at this time to 36 this year. Months of inventory was 1.4 months compared to .8 months last year at this time. Also a seller's market!
$750K - $999K - There were 33 homes for sale, up from 26 last December but down from 49 last month. There were 17 sales compared to 12 last year and 12 last month. The average price per sq. foot for those sales was $244 down from $257 last December but up from $241 last month. Looking at today's stats compared to the first 12 days of December, the price per sq. ft. average is $273 compared to $247 this time last month (up 10.5%)! Again days on market are around half what they were last yer at this time. Months of inventory was 1.9 compared to 2.2 last December and 3.4 last month. This is also a seller's market (0-3 months).
$1Mil + - There were 36 homes for sale compared to 28 last December and 48 last month. There were 11 sales compared to only 3 last December and 7 last month. The average price per sq. foot for those 11 sales was $258 down from $310 last December and $271 in November. Months of inventory was 3.3 down from 9.3 months last December and 6.9 in November indicating a neutral market (3-6 months).
All in all our low inventory makes it a good time to sell but a little difficult to buy. If you are thinking about making a move call me and let's look at your options. If you'd like to see any of the charts for the price breakdowns let me know. I can also send a 10 year look, 5 year look, etc. going back 15 years. It's really quite interesting.