The El Dorado Hills Real Estate Week in Review: 10-14-13.

Posted by Matt Eichmann on Monday, October 14th, 2013 at 5:35pm.

El Dorado Hills Real Estate Summary.

As we head into Fall, the El Dorado hills real estate market is still moving along at a relatively healthy pace. With an average price per square foot still in the $190 range, we continue to see some of the best sales prices we have in years. 

A buyer's market?

The recent market recovery leading to these higher average sale prices has lead many underwater and fence sitters to finally list their homes, increasing the extremely thin inventory we experienced in the spring and early summer.  This, combined with the typical fall slowdown as many buyers tend to get busy with the holidays, means the market has tipped slightly toward buyers.

Below is a graph that gives a good depiction of this trend. It shows the months of inventory that exist in the local El Dorado Hills market, month by month. It indicates how many months it would take to clear out the total inventory of homes for sale given the rate at which buyers are closing. Typically, anything under 2 is considered a seller's market, as it indicates a relative shortage of homes available for sale. As you can see, we've been under that most of this year, but have shot up 3.9 in the last month. We're still closing about the same number of homes per month, but the total number of homes for sale has increased by over a third. 

I can definitely say that on the ground, I have seen a rise in the number of price reductions and a drastic decrease in the amount of multiple offers. Having said that, when a home is priced right, and marketed well, it still sells for a good price and in under a month.

 By the Numbers.

Below is a high-level snapshot of the market performance for single-family residences in El Dorado Hills. The data is for the week ending in 10-14-13.

El Dorado Hills Housing Data          

10-14-13          

Prior Week           

 No. of New Listings for the Week:
 21  22
 Closed Sales For The Week:
 14  11
 Average Sold Price

 $568,967

 $616,909
 Average $/Sq Foot (Sold)
 $192.84  $193.64
 Sold Price vs Orig List (%)
 %99.28  %97.01
 Average DOM of Closed Sales
 34  46
 No. of Homes Pending Sale:
 32  22
 Inventory of Active Listings: 
 193  194
 Average Price of Active Listings:
 $855,330  $773,281
 Average DOM of Active Listings:
 71  73
 Average $/Sq Foot (List)
 $216.90  $217.73
 No. of Active Short Sales:
 13  11

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