EL DORADO HILLS, CA HOME SALES DATA – AUGUST 2012

EL DORADO HILLS, CA HOME SALES DATA – AUGUST 2012

The purpose of this post is to provide those interested in the El Dorado Hills, CA housing market data about that market.  This report covers August 2012, and the fourteen previous months. 

The first chart lists the cost-per-square-foot for all homes sold in El Dorado Hills by month.  There is only a slight fluctuation from month to month. The June number was much higher than it has been in years and the July and August numbers are a little closer to the normal, but growing range.   The August 2012 number is eleven dollars higher than was the August 2011 number and the second highest it the past fifteen months.

If you would like to see all of the homes available in El Dorado Hills right now, select this link. It is a two-part process.  First check the El Dorado Hills box part way down on the left side of the page and then scroll down to the search button at the bottom of the page.  All available El Dorado Hills homes will come up.

Those potential buyers who decided to remain on the fence, “until prices hit bottom” missed the boat.  With interest rates below 3.5% they no longer have a reason to wait. 

The second chart shows the level of inventory, (the number of homes for sale divided by the number of homes sold each month).  The August inventory was a 1.5-month supply, very close to what it has been for the past four months.  However, the level of inventory in the past 15-months is much lower that than historical numbers. Pundits tell us that a six-month inventory is a neutral market. 

We can see that the El Dorado Hills market is, and has been for some time, a seller’s market. We had been bumping along in the two to four month range for the past year and are now steadily under a 2-month supply.

Over a year ago, we posted an article warning about the pending housing shortage.  We continue to stand behind that prediction.  All you have to do is ask those actively looking for a home.

It is going to get worse.  The demand will result in price increases and with those increases; more homeowners will put their homes on the market.  Unfortunately, without any new home construction in the past five years or more, we will still be short of inventory. 

The third chart shows the average days on market and the selling price as a percentage of asking price.  As you can see, homes are selling faster and for a price very close to asking price.  This is good news for home sellers.

If you would like to see this data for other cities and towns in our area, feel free to contact us at (916)337-0658 or e-mail Mike@BuyYourVilla.com.

To use the very best Internet property search tool go to www.BuyYourVilla.com.