Market Report - What's Selling in El Dorado Hills - September 2011
Regardless of the economy and what the real estate market looks like, there are always people buying and selling homes. Here is a look at What's Selling in El Dorado Hills based on September 2011 statistics and reports I pulled from our MLS.
The highest price home that sold here in El Dorado Hills last month was this Ridgeview home. It was listed at $995,000 and sold for $972,500 ($203.49/sq. ft.). It was built in 2000 on just over 1/2 acre with approximately 4779 square feet, 5 bedrooms, 4 1/2 baths, and amenities thatincluded City Lights and Folsom Lake views, stone/ cherry flooring, granite slab counters, top of the line kitchen appliances, a home theater, and a pool/spa. It was just a Regular sale (not short sale or REO). It was on the market for 143 days.
On the other end of the spectrum and the lowest price home that sold was this 3 bedroom, 2 bath single story. It was listed at $239,000 and sold for $225,000 ($165.20/sq.ft.). It was built in 1962 and according to the listing agent, was one of the first homes sold here in El Dorado Hills. It had approximately 1362 sq. ft., original hardwood flooring, and was also a Regular sale. It was on the market for 24 days.
Here are some statistics for all of September's home sales and what's selling in El Dorado Hills:
The MLS showed 60 homes sold
Median home price - $430,250
Average size home - 3050 square feet
Average square foot price - $151.53
Average days on the market - 67 days
Average sales price - $460,809
Average list to sale price - 98.05%
23% were REO Properties, 27% were Short Sales, 50% were Regular Sales.
By comparison here are some statistics for our 4 county region of Sacramento (Sacramento, Placer, El Dorado, and Yolo):
Average sales price - $224,000
Average price per square foot - $121
33.8% of the monthly sales were REOs, 26% were Short Sales, and 40.2% were Regular Sales
See more of these regional statistics on this month's Trendgraphix Report on my website.
So what does this all boil down to for you:
If you're a buyer, you may be able to find homes for sale here in El Dorado Hills in the $200K's but you should expect to pay more than you would in most areas of the Sacramento region as a whole. As evident in the list to sale price figure, unless a home has sat on the market for a very long time, a low ball offer will usually not do the trick.
If you're a seller in El Dorado Hills, the days of homes selling for over $200 per square foot is few and far between (Only 3 out of the 60 home sold for over $200/ sq. ft.) and it may be a long time before we see those prices again. It is imperative that you price your house right the first time whether you have equity and are a regular seller or you are underwater and will have to do a short sale or your home will just sit on the market.
What's selling in El Dorado Hills will vary slightly from month to month but rest assured homes are always moving! If you are buying or selling a home in El Dorado Hills, give me a call!
More market reports for El Dorado Hills based on this months figures:
I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.
Search MLS Listings in El Dorado Hills and the Sacramento Region
Click here to find out more about me! Or just Google Me!
Keep in touch 
By DeeDee Riley 2011 *All Rights Reserved*Market Report - What's Selling in El Dorado Hills - September 2011
I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.
Search MLS Listings in El Dorado Hills and the Sacramento Region
Click here to find out more about me! Or just Google Me!
Keep in touch
By DeeDee Riley 2011 *All Rights Reserved*Wordless Wednesday - Halloween Event in El Dorado Hills
Market Report for El Dorado Hills CA - Supply / Demand - Who's Really in Charge?
For this market report for El Dorado Hills CA we'll take a look at Supply and Demand and who's really in charge here - Buyers or Sellers.
The following 3 graphs with Trendgraphix statistics take a 15 month look at inventory in El Dorado Hills. These figures are derived from taking the sales for the month and dividing them into the total listings. The result reflects our Supply. By economic real estate rules - anything below 6 months of inventory is considered a Seller's market because there is a low supply and anything above a 6 months is considered a Buyer's market because supply is high.
As you will see in the graphs, by all rights, it should be a Seller's market here in El Dorado Hills for all property types, however, in today's market this is not cut and dry for El Dorado Hills homes. It depends more on the property's time on market.
When it first comes on the market the seller is in control because the demand is uncertain and we don't know who might be interested. At this time, the homes priced well and in good condition have a great chance of selling with multiple offers and the seller is, without a doubt, in charge. The demand (buyers) are out there, but they are a lot more savvy and picky. Many are not in a hurry and are waiting for the right one or the right price. Once the property has sat a while for what ever reason, the buyer is back in charge.
Bank owned (REO) properties tend to be much lower priced so the demand is higher for them as the graphs indicated. The Regular (non-REO/ non-Short Sale) homes are still reflecting a Seller's market based on the inventory but the ones that are selling are the cream of the crop. They are priced well according to their condition. Short sales are generally priced well but the condition is still important. Loans are harder to get when the properties need work because the question of who is going to make them enters into equation and causes many problems.
Bank owned (REO) Inventory
Regular (non-REO/ non-Short Sale) Inventory
It's a complicated time in the real estate world and whether you are buying or selling it is important to really understand what is going on in your local market and even more so what's going on in the neighborhood where you are selling or are making an offer. (Don't make your opinions based on what the media is saying as their information is not local but more broadly based.) If your a seller, pricing your home correctly is critical. And lastly, it's important to look at supply and demand and who's really in charge when you are writing or negotiating an offer. If you're looking to buy or sell a home in El Dorado Hills, let's talk!
More Market Reports for El Dorado Hills CA for this month:
I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.
Search MLS Listings in El Dorado Hills and the Sacramento Region
Click here to find out more about me! Or just Google Me!
Keep in touch
By DeeDee Riley 2011 *All Rights Reserved*Market Report for El Dorado Hills CA - Supply / Demand - Who's Really in Charge?
I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.
Search MLS Listings in El Dorado Hills and the Sacramento Region
Click here to find out more about me! Or just Google Me!
Keep in touch
By DeeDee Riley 2011 *All Rights Reserved*Haunted House in El Dorado Hills
Market Report for El Dorado Hills - Regular vs. All Property Type Sales
When I look back at my school years, I can't figure out why I avoided math classes as I've always been pretty good at it and statistics fascinate me! Having said that, it is no surprise that I enjoy looking at our market trends each month. Lyon Real Estate (my company) actually developed Trendgraphix,a program that provides these market statistical graphs which use to be exclusive to us as Lyon agents but is now used by real estate brokers, agents, and MLS/Realtor associations across the USA.
Below is a Market Report for El Dorado Hills showing a comparison of Regular (non-Short Sale/ non-REO) sales figures verses All Property types combined (which also includes Short Sales and REOs) through September 2011. I've gone back 5 years so you can get a perspective and see the actual trends.
The first two graphs are showing the Active and Sold listings. Keep in mind that until January 2007 there were no REO sales for El Dorado Hills and no Short Sales till August of that year so the charts will be the same during that time. After that you can see the difference. In my opinion this is due to the fact that buyers have sought out the REO and Short Sale properties because their price per square foot average is significantly lower. As you can see the inventory has gone down but in my opinion the sales have been pretty steady and stable.
The next two graphs show the average price per square foot. The Regular Sales though down 33.4% over the same month 5 years ago have leveled off for the most part. In my opinion they are holding pretty steady despite the downward drag of the REO and Short Sale Properties. The Regular Sale properties average price per square foot in September was $166 compared to the Combined Property type sales of $152 per square foot.
Regular Properties (not Sale or REO)
All Property Types Combined
Regular Sales Average Square Foot Price
All Property Type Average Square Foot Price
To summarize this Market Report for El Dorado Hills, I believe though we still may not see values go up much in Regular Sale properties in El Dorado Hills for a few years, they are holding steady and that's good for sellers. I think this is due to the fact there continues to be a large percentage of them in our over all market here (68% of all listings) with a large percentage of them selling (53% of last months sales) despite the REOs and Short Sales we have. The more Regular property sales we have, the better as they will help to keep our prices steady! Hang in there Sellers!
If you'd like to see more of these Trendgraphix reports for El Dorado Hills visit my website at www.DeeDeeRiley.com. Contact me if you'd like to receive them each month by email or would like to see these reports for another community in the Sacramento Region. And if you need to sell, call or email me and we'll set up a time to look at your home value and discuss what's possible.
More El Dordado Hills Market Reports:
I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.
Search MLS Listings in El Dorado Hills and the Sacramento Region
Click here to find out more about me! Or just Google Me!
Keep in touch
By DeeDee Riley 2011 *All Rights Reserved*Market Report for El Dorado Hills - Regular vs All Property Type Sales
 |
|
|
Whether you are buying or selling homes in El Dorado Hills, Folsom, Roseville, or the Cameron Park area, I am here to help you with all your real estate needs. DRE#01499004
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
