"D" DAY Real Estate Market Data for El Dorado Hills & Folsom, CA

"D" Day Single Family Home Statistics for El Dorado Hills and Folsom, CA.

At this writing there are:

403 active listings in El Dorado Hills
259 active listings in Folsom

In May of 2008:

58 homes sold in El Dorado Hills
70 homes sold in Folsom

The resulting absorption rate (number of months inventory available,
based on the previous months sales):

6.9 Months in El Dorado Hills
3.7 Months in Folsom

This is a good sign for the market. Declining inventory rates are an indication that the marked is stabilizing and an indicator that prices may soon start to rebound. However, the experts tell us that the rebound will be slow due to the recession.

A review of the properties in these areas Pending Sale (waiting for completion of inspections and financing) shows that 11.4% of the homes were on the market for a week or less and a full 26% were on the market for two weeks or less. Properties that are properly priced are selling. The average DOM (Days on Market) for all Pending sales was 89.

REO (Bank Owned) properties are selling faster than those in the general population with an average DOM of 85 and 27.7% of the Pending REO properties were on the market for two weeks or less.

Naturally, Short Sale properties are selling slower, with an average DOM of 120 and 21% of the Pending Short Sales on the market for two weeks or less.

There is NO question that the local real estate market is heating up!