BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – JANUARY 2013
BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – JANUARY 2013
This is the latest monthly report of our more than five-year study of bank owned (foreclosure/REO) home sales in El Dorado Hills, CA. This report covers January 2013. For the purposes of simplification, we will use the term foreclosure for all homes in this category from this point forward.
If you would like to see all of the foreclosure homes available for sale in El Dorado Hills, select this link. To view the available foreclosure homes you will have check the box marked “are REO/Bank Owned,” in the “Including the above criteria, only show me properties that:” section. Then scroll down and check the “El dorado Hills Area” box on the left side of the page and finally select the Search Now (List Your Results or Map Your Results) button at the bottom of the page. EVERY available property will come up. The site refreshes the data daily.
There were FIVE foreclosure homes that sold in El Dorado Hills in January, one more than sold in December. Since our sample is so small, any statistical analysis is of questionable value.
The subject homes were on the market for an average of 31 days. This is longer than normal. The fact that four of the five homes were more than ten years old may have had an impact on this issue. Newer homes are more popular and tend to sell faster.
The foreclosure homes that sold represent only 11.1% of ALL homes that sold in El Dorado Hills this month. The scarcity of available foreclosure homes is the main reason that foreclosure homes are such a small segment of the total market.
The available inventory of foreclosure homes in El Dorado Hills was at a 0.4-month supply, down from a 1.0-month supply the previous month. This is well within the normal range. There was a spike to an 8-month supply in October which we attribute as a statistical anomaly.
The inventory for ALL homes available in El Dorado Hills was at a1.9-month supply in January, up from a 1.8-month supply in December. We had a spike in January and February of 2012 but have not been over the level of a 2.1-month supply since. Pundits tell us that a 6-month supply is a neutral market, so we continue to have a strong seller’s market for ALL homes in El Dorado Hills, both foreclosure and non-foreclosure.
The average cost-per-square-foot for foreclosure homes was $170, up markedly from $ 117 in December and the highest it has been in well over fifteen months.
The average cost-per-square-foot for ALL homes sold in El Dorado Hills in January increased to $177, up from $163 in December and also the highest that has been in over fifteen months.
Home prices are going up. When comparing the cost-per-square foot for foreclosure homes sold in January of 2012 and January of 2013 we see a 15.7% increase. That increase was 18.8% for ALL homes that sold in the same periods.
The average sales price for foreclosure homes was only 99.3% of the final asking price. A full 80% of the foreclosure home buyers paid the asking price or more for their homes.
In essence we can see that the number of foreclosure homes available is very small and they are selling quickly. The overall shortage of inventory makes ours a strong seller’s market and prices in general are increasing.
If you have any questions about purchasing any home in El Dorado Hills, an El Dorado Hills foreclosure, or a foreclosure Home anywhere in the area, feel free to give us a call (916) 337-0658. If you would like to search for foreclosure homes in your section of the greater Sacramento area, go to www.BuyYourVilla.com
To view the data for BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – JANUARY 2013 see the chart below.
BANK OWNED (Foreclosure /REO) HOME SALES DATA FOR FOLSOM, CA – JANUARY 2013
BANK OWNED (Foreclosure /REO) HOME SALES DATA FOR FOLSOM, CA – JANUARY 2013
This is the latest monthly report of our over five-year study of bank owned (Foreclosure/REO) home sales in Folsom, CA. This report covers January of 2013. In order to simplify the post for the reader, we will only use the term Foreclosure when referring to this category of home.
If you would like to see all of the foreclosure homes available for sale in Folsom, select this link. To view the available foreclosure homes you will have to select the box next to “are REO/Bank Owned” under the “Including the above criteria, only show me properties that:” section. Then scroll down to the Folsom box half way down on the left side of the page and finally select the Search Now button at the bottom of the page.
There were two foreclosure homes sold in Folsom, the same number that sold the previous month. With such a small sample statistical analysis is of questionable value.
The average days-on-market jumped up to 41 days. It was down to three days in December. One of the two homes that sold was on the market for much longer than usual, skewing this statistic.
The two foreclosure homes that sold represent only 3.5% of all homes sold. That is the smaller segment than usual. The very low foreclosure home inventory continues to influence this statistic.
The available inventory of foreclosure homes in Folsom increased to a 2.5-month supply, up from a 2.0-month supply the previous month. That inventory level had not exceeded a 1.2-month supply for over a year until December.
(Note that the absorption rate is calculated by dividing the number of available homes by the number of homes that sold in the most recent month. So, with only two homes sold a 2.5-month supply means that there are a total of five foreclosure homes available: not exactly a glut on the market.)
The inventory for ALL homes available increased to a 1.0-month supply, it was at a 0.6-month supply the previous month. Pundits tell us that a 6.0-month supply is neutral market, so Folsom remains a strong seller’s market for both foreclosure homes and all other homes on the market.
The Folsom market continues to reflect the shortage of inventory available in the rest of California.
The average cost-per-square-foot for foreclosure homes was $ 143 in January, down from $ 180 the previous month, a large drop. Here too the small sample does not allow for meaningful statistical analysis.
The average cost-per-square-foot for ALL homes sold in Folsom in January was $ 172, the highest it has been in over fifteen months.
The overall sales price for REO homes was 102.3% of the final asking price. One sold for 111.3% of the final asking price and the other sold for only 93.4% of the final asking price.
When based on the cost-per-square-foot for ALL homes sold, buyers of foreclosure homes paid 17.0% less in January. That is only the second time that has happened during our study. That is a $ 29 per-square-foot more that buyers paid for all homes sold. When applied to a 2500 square foot home, that represents an additional expense of $ 72,500, a substantial sum. Those buyers must really have liked these homes!
If you have any questions about purchasing a home in Folsom, a Folsom Foreclosure, or anywhere in the area, feel free to give us a call (916) 337-0658.
See the data chart below for BANK OWNED (Foreclosure /REO) HOME SALES DATA FOR FOLSOM, CA – JANUARY 2012
BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – DECEMBER 2012
BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – DECEMBER 2012
This is the latest monthly report of our more than five-year study of bank owned (foreclosure/REO) home sales in El Dorado Hills, CA. This report covers December 2012. For the purposes of simplification, we will use the term foreclosure for all homes in this category from this point forward.
If you would like to see all of the foreclosure homes available for sale in El Dorado Hills, select this link. To view the available foreclosure homes you will have check the box marked “are REO/Bank Owned,” in the “Including the above criteria, only show me properties that:” section. Then scroll down and check the “El dorado Hills Area” box on the left side of the page and finally select the Search Now (List Your Results or Map Your Results) button at the bottom of the page. EVERY available property will come up. The site refreshes the data daily.
There were only FOUR foreclosure homes sold in El Dorado Hills in December, two more than sold in November. Since our sample is so small, any statistical analysis is of questionable value.
The subject homes were on the market for an average of 35 days–the data is skewed because one of the homes had been on the market for 105 days,much longer than normal in our current market. The other three foreclosure homes that sold were on the market for less than two weeks.
The foreclosure homes that sold represent only 8.2% of ALL homes that sold in El Dorado Hills this month. The scarcity of available foreclosure homes is the main reason that foreclosure homes are such a small segment of the total.
The available inventory of foreclosure homes in El Dorado Hills was at a 1.0-month supply, down from a 1.5-month supply the previous month.
The inventory for ALL homes available in El Dorado Hills remained at a 1.9-month supply in December, for the second month in a row. It has not exceeded a 2.1-month supply in the past ten months. Pundits tell us that a 6-month supply is a neutral market, so we continue to have a strong seller’s market for ALL homes in El Dorado Hills, both foreclosure and non-foreclosure.
The average cost-per-square-foot for foreclosure homes was $117, down from $ 163 the previous month. Here too this number is skewed because one of the homes sold for $95.26 per square foot and a second sold for $ 103.57 per square foot. It is not within the scope of our study to address the condition of the homes sold, or how that impacts the selling price. We just mention these two sales because they represent one half of the foreclosure homes that sold during the subject month.
The average cost-per-square-foot for ALL homes sold in El Dorado Hills in December increased slightly to $162, up from $158 in November. This December number is ten dollars higher that it was in December of 2011.
The average sales price for foreclosure homes was 103.1% of the final asking price. A full 75% of the foreclosure home buyers paid more than the asking price for their homes.
In essence we can see that the number of foreclosure homes available is very small and they are selling quickly. The overall shortage of inventory makes ours a strong seller’s market and prices in general are increasing.
If you have any questions about purchasing any home in El Dorado Hills, an El Dorado Hills foreclosure, or a foreclosure Home anywhere in the area, feel free to give us a call (916) 337-0658. If you would like to search for foreclosure homes in your section of the greater Sacramento area, go to www.BuyYourVilla.com
To view the data for BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – DECEMBER 2012 see the chart below.
The data follows:
BANK OWNED (Foreclosure /REO) HOME SALES DATA FOR FOLSOM, CA – DECEMBER 2012
BANK OWNED (Foreclosure /REO) HOME SALES DATA FOR FOLSOM, CA – DECEMBER 2012
This is the latest monthly report of our over five-year study of bank owned (Foreclosure/REO) home sales in Folsom, CA. This report covers December of 2012. In order to simplify the post for the reader, we will only use the term Foreclosure when referring to this category of home.
If you would like to see all of the foreclosure homes available for sale in Folsom , select this link. To view the available foreclosure homes you will have to select the box next to “are REO/Bank Owned” under the “Including the above criteria, only show me properties that:” section. Then scroll down to the Folsom box half way down on the left side of the page and finally select the Search Now button at the bottom of the page.
There were four foreclosure homes sold in Folsom, two less than sold the previous month. With such a small sample statistical analysis is of questionable value.
The average days-on-market dropped from 16 the previous month to 3 in December, the shortest period in our study.
One of the homes was on the market for 6 days, the other sold on the day it came on the market. This is the first time in our study that all of the foreclosure homes that sold were on the market for two weeks or less.
The two foreclosure homes that sold represent only 2.8% of all homes sold. That too is the smallest segment in our five-year study. The very low foreclosure home inventory continues to influence this statistic.
The available inventory of foreclosure homes in Folsom spiked to a 2.0-month supply, up from a 1.0-month supply the previous month. That inventory level has not exceeded a 1.2-month supply for over a year.
(Note that the absorption rate is calculated by dividing the number of available homes by the number of homes that sold in the most recent month. So, with only two homes sold a 2.0-month supply means that there are a total of four foreclosure homes available: not exactly a glut on the market.)
The inventory for ALL homes available remained at a 0.7-month supply for the second month in a row. Pundits tell us that a 6.0-month supply is neutral market, so Folsom remains a strong seller’s market for both foreclosure homes and all other homes on the market.
The Folsom market continues to reflect the shortage of inventory available in the rest of California.
The average cost-per-square-foot for foreclosure homes was $ 180 in December, up from $ 161 the previous month and the highest it has been for over five years. We consider this a statistical anomaly.
The average cost-per-square-foot for ALL homes sold in Folsom in December was $ 168, down one dollar from November, the highest it has been in the past fifteen months.
The overall sales price for REO homes was 105.9% of the final asking price. Once again, both homes sold for more than the asking price, one for $ 37,100 above the asking price. Not something most buyers would pay.
When based on the cost-per-square-foot for ALL homes sold, buyers of foreclosure homes paid 7.1% MORE in December. That is only the second time that has happened during our study. That is a $ 12 per-square-foot more that buyers paid for all homes sold. When applied to a 2500 square foot home, that represents an additional expense of $ 30,000, a substantial sum. Those buyers must really have liked these homes!
If you have any questions about purchasing a home in Folsom, a Folsom Foreclosure, or anywhere in the area, feel free to give us a call (916) 337-0658.
See the data chart below for BANK OWNED (Foreclosure /REO) HOME SALES DATA FOR FOLSOM, CA – DECEMBER 2012
The data follows:
BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – NOVEMBER 2012
BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – NOVEMBER 2012
This is the latest monthly report of our five-year study of bank owned (foreclosure/REO) home sales in El Dorado Hills, CA. This report covers November 2012. For the purposes of simplification, we will use the term foreclosure for all homes in this category from this point forward.
If you would like to see all of the foreclosure homes available for sale in El Dorado Hills, select this link. To view the available foreclosure homes you will have check the box marked “are REO/Bank Owned,” in the “Including the above criteria, only show me properties that:” section. Then scroll down and check the “El dorado Hills Area” box on the left side of the page and finally select the Search Now (List Your Results or Map Your Results) button at the bottom of the page. EVERY available property will come up. The site refreshes the data daily.
There were only TWO foreclosure homes sold in El Dorado Hills in November, one more than sold in October. Since our sample is so small, any statistical analysis will be of questionable value.
The subject homes were on the market for an average of 11.5 days, a very short period. We also note that both buyers paid more than the asking price.
The foreclosure homes that sold represent only 3.6% of ALL homes that sold in El Dorado Hills this month. The scarcity of available foreclosure homes is the main reason that foreclosure homes are such a small segment of the total.
The available inventory of foreclosure homes in El Dorado Hills dropped back into the normal range in November at a 1.5-month supply.
(It had peaked at an eight month supply in October due to a statistical anomaly. An unusually large number of eight foreclosure homes came on the market in October. The absorption rate is calculated using the number of available homes divided by the number that sold the previous month. Since the number of homes available is normally small, the historical sales number is also small. The unusual circumstance of eight homes entering the market in the same month resulted in an eight month supply statistic.) .
The inventory for ALL homes available in El Dorado Hills remained at a 2.1-month supply in November, the second month in a row. . Pundits tell us that a 6-month supply is a neutral market, so we continue to have a strong seller’s market for ALL homes in El Dorado Hills, both foreclosure and non-foreclosure.
The average cost-per-square-foot for foreclosure homes was $163, up considerably from $ 138 the previous month. The average cost-per-square-foot for ALL homes sold in El Dorado Hills in November dropped to $157, the lowest number in six months.
The average sales price for foreclosure homes was 104.2% of the final asking price.
It is highly unusual for the average cost per square foot for foreclosure homes in higher than that for all homes sols in a given month. With such a small sample the ratios are not viable.
In essence we can see that the number of foreclosure homes available is very small and they are selling quickly. The overall shortage of inventory makes ours a strong seller’s market and prices in general are increasing.
If you have any questions about purchasing any home in El Dorado Hills, an El Dorado Hills foreclosure, or a foreclosure Home anywhere in the area, feel free to give us a call (916) 337-0658. If you would like to search for foreclosure homes in your section of the greater Sacramento area, go to www.BuyYourVilla.com
To view the data for BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – NOVEMBER2012 see the chart below.
The data follows:
