REO (BANK OWNED) SALES DATA FOR EL DORADO HILLS, CA DECEMBER-2010

El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR December 2010

This is a continuation of our over three year long monthly report on Bank Owned (REO) home sales data for El Dorado Hills, CA. This report covers Bank Owned homes sold in December 2010.

There were only 9 Bank Owned homes sold in December, down from 14 the previous month.

REO inventory in El Dorado Hills that spiked in September at a 6.4 month supply, dropped to a 2 month supply in October and a 1.9 month supply in November. It has increased to a 3.5 month supply in December, the third highest monthly inventory in the past fourteen months. The inventory for all available homes increased to a 4.4 month supply, up from the low for the year of 3.7 months in November. A six month supply is considered a neutral market.

The average days-on-market dropped significantly to 46 days from the 131 days in November, the highest in 2010 by a considerable margin. We consider that 131 day number a statistical anomaly since it deviates so far from the norm. Only one of the REO homes that sold had been on the market for over 100 days and two of the REO homes sold were on the market two weeks or less.

The 9 REO homes that sold represent only 16% of all homes sold in El Dorado Hills in December, a smaller segment than normal.

The average cost per square foot of REO homes in December was $ 128, The same as it was the previous month. The cost per square foot of all El Dorado Hills Homes sold in December dropped three dollars, to $ 148. This statistic is also the lowest reported for over a year.

The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO homes represented a 13% savings for REO buyers in December, down from 15% the previous month.

The overall sales price for REO homes was 100% of the final asking price, and 96.8% of the original asking price. Only 23% of the buyers paid more than the asking price for their REO home in December.

The actual, measurable savings is the difference in cost per square foot between REO homes sold and the cost per square foot of all homes sold: in December, $ 20 per square foot. That is a $ 50,000 savings on a 2500 square foot home, A much larger difference than normal.

If you have any questions about the data provided on Bank Owned Homes sold in El Dorado Hills, feel free to give us a call at (916) 337-0658. If you need assistance in finding the best bank owned deal we are the El Dorado Hills Realtor you should contact.

The data follows: