BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – JUNE 2011
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – JUNE 2011
This is the latest monthly report of a nearly four-year study of bank owned home sales in El Dorado Hills, CA. This report covers June 2011.
There were 19 REO homes sold in El Dorado Hills in June, two more than sold the previous month.
The average days on market increased from 66 in May to 72 in June. Three of the homes had been on the market for over 100 days, one for 367 days. However, 32% of the homes that sold were on the market for two weeks or less. Well-priced homes in good condition are still selling quickly.
The 19 REO homes that sold represent 24% of ALL homes sold this month.
The available inventory of REO homes in El Dorado Hills decreased from a 1.2-month supply the previous month to a .9-month supply in June. The available inventory for ALL homes decreased from a 4.0-month supply the previous month to a 3.1-month supply in June, the lowest level in fourteen months. Pundits advise that a 6-month supply is a neutral market, so we are still looking at a seller’s market for ALL homes in El Dorado Hills.The average cost-per-square-foot for REO homes was $ 128 in June, down from $ 130 the previous month. The average cost-per-square-foot for ALL homes sold in El Dorado Hills in June dropped to $ 149, down from $ 155 the previous month.
The overall sales price for REO homes was 99.1% of the final asking price and 94.6% of the original asking price. Yet 53% of the buyers paid the full asking price or more for their REO homes in June. Apparently, these homes were well priced and buyers decided to take advantage of low prices and excellent mortgage interest rates.
REO buyers paid 86% of the cost-per-square-foot for their REO home when compared with the cost-per-square-foot for all homes sold in June. That is a $ 21 pre-square-foot savings. When applied to a 2500 square foot home that represents a savings of $ 52,500, a considerable sum. Most buyers would consider that sufficient reason to accept the fact that REO buyers must relinquish some of the rights the have when buying a home in a normal sale.
If you have any questions about purchasing an El Dorado Hills REO, or an REO anywhere in the area, feel free to give us a call (916) 337-0658.
The data follows:
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – MAY 2011
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – MAY 2011
This is the latest monthly report of a nearly four-year study of bank owned home sales in El Dorado Hills, CA. This report covers May 2011.
There were 16 REO homes sold in El Dorado Hills in May, down from 21 the previous month.
The average days on market increased from 57 in April to 66 in May. Three of the homes had been on the market for over 100 days, one for over 200. However, 44% of the homes that sold were on the market for two weeks or less. Well-priced homes in good condition are still selling quickly.
The 16 REO homes that sold represent 29% of ALL homes sold this month.
The available inventory of REO homes in El Dorado Hills decreased from a 1.5-month supply the previous month to a 1.3-month supply in May. The available inventory for ALL homes increased slightly from a 3.7-month supply the previous month to a 4-month supply in May, at the lower end of the normal range. Pundits advise that a 6-month supply is a neutral market, so we are still looking at a seller’s market for ALL homes in El Dorado Hills.
The average cost-per-square-foot for REO homes was $ 133 in May, down from $ 154 the previous month. (Note: There have been three months in the past year with a lower cost-per-square-foot in El Dorado Hills for REO homes.) The average cost-per-square-foot for ALL homes sold in El Dorado Hills in May dropped to $ 155, down from $ 167 the previous month.
The overall sales price for REO homes was 102.1% of the final asking price and 50% of the buyers paid more than the final asking price for their REO homes in May. Apparently, these homes were well priced and buyers decided to take advantage of low prices and excellent mortgage interest rates.
REO buyers paid 86% of the cost-per-square-foot for their REO home when compared with the cost-per-square-foot for all homes sold in May. That is a $ 22 pre-square-foot savings. When applied to a 2500 square foot home that represents a savings of $ 55,000, a considerable sum. Most buyers would consider that sufficient to accept the fact that REO buyers must relinquish some of the rights the have when buying a home in a normal sale.
If you have any questions about purchasing an El Dorado Hills REO, or an REO anywhere in the area, feel free to give us a call (916) 337-0658.
The data follows:
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – APRIL 2011
This is the latest monthly report of a three-year study of bank owned home sales in El Dorado Hills, CA. This report covers April 2011.
There were 21 REO homes sold in El Dorado Hills in April, up from 16 the previous month.
The average days on market increased from 48 in March to 57 in April. Four of the homes had been on the market for over 100 days, one for almost 300. However, 48% of the homes that sold were on the market for two weeks or less. Well-priced homes in good condition are still selling quickly.
The 21 REO homes that sold represent 33% of all homes sold this month.
The available inventory of REO homes in El Dorado Hills decreased from a 2.0-month supply the previous month to a 1.6-month supply in April. The available inventory for ALL homes declined from a 4.2-month supply the previous month to a 3.9-month supply in April, at the lower end of the normal range. Pundits advise that a 6-month supply is a neutral market, so we are still looking at a seller’s market for ALL homes in El Dorado Hills.
The average cost-per-square-foot for REO homes was $ 154 in April, up from $ 145 the previous month. The average cost-per-square-foot for all homes sold in El Dorado Hills in April jumped to $ 167, up from $ 154 the previous month.
The overall sales price for REO homes was 102.6 % of the final asking price for the first time in over three years! In addition, 62% of the buyers paid more than the final asking price for their REO homes in April. Apparently, these homes were very well priced and buyers decided to take advantage of excellent mortgage interest rates.
REO buyers paid 93% of the cost-per-square-foot for their REO home when compared with the cost-per-square-foot for all homes sold in April. That is a $ 13 pre-square-foot savings. When applied to a 2500 square foot home that represents a savings of $ 32,500, a considerable sum. Most buyers would consider that sufficient to accept the fact that REO buyers must relinquish some of the rights the have when buying a home in a normal sale.
If you have any questions about purchasing an El Dorado Hills REO, or an REO anywhere in the area, feel free to give us a call (916) 337-0658.
The data follows:
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – MARCH 2011
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – MARCH 2011
This is the latest monthly report of a three plus year study of bank owned home sales in El Dorado Hills, CA. This report covers March 2011.
There were 16 REO homes sold in El Dorado Hills in March, four more then sold the previous month.
The average days on market decreased from 60 in February to 48 in March. Only two of the homes had been on the market for over 100 days. However, 38% of the homes that sold were on the market for two weeks or less. Well-priced homes in good condition are still selling quickly.
The 16 REO homes that sold represent 29% of all homes sold this month.
The available inventory of REO homes in El Dorado Hills decreased from a 2.7-month supply the previous month to a 2.0-month supply in March. The available inventory for ALL homes sold dropped significantly from a 7-month supply the previous month to a 4.3-month supply in March. That 7 month supply was the highest reported in the past 14 months. The 4.3 month supply is in line with normal inventory levels. Pundits advise that a 6-month supply is a neutral market, so we are still looking at a strong seller’s market for all homes in El Dorado Hills in March.
The average cost-per-square-foot for REO homes was $ 145 in March, up from $ 130 the previous month. The average cost-per-square-foot for all homes sold in El Dorado Hills in March also increased to $ 154, up from $ 149 the previous month.
The overall sales price for REO homes was 95.1% of the original asking price and 99.8 % of the final asking price. REO homes were not a bargain in March. In addition, 50% of the buyers paid the final asking price or more for their REO homes this month.
REO buyers paid 95% of the cost-per-square-foot for their REO Home when compared with the cost-per-square-foot for all homes sold in March. When applied to a 2500 square foot home, that represents a savings of $ 22,500, a considerable sum. Most buyers would consider that sufficient to accept the fact that REO buyers must relinquish some of the rights the have when buying a home in a normal sale.
If you have any questions about purchasing an El Dorado Hills REO, or an REO anywhere in the area, feel free to give us a call (916) 337-0658.
The data follows:
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – FEBRUARY 2011
BANK OWNED (REO) HOME SALES DATA FOR EL DORADO HILLS, CA – FEBRUARY 2011
This is the latest monthly report of a three plus year study of bank owned home sales in El Dorado Hills, CA. This report covers February 2011.
There were 12 REO homes sold in El Dorado Hills in February, two less than sold the previous month.
The average days on market increased from 58 in January to 60 in February. Three of the homes had been on the market for over 100 days. However, 25% of the homes that sold were on the market for two weeks of less. Well-priced homes in good condition are still selling quickly.
The 12 REO homes that sold represent 34.3% of all homes sold this month.
The available inventory of REO homes in El Dorado Hills increased from a 2.0-month supply the previous month to a 2.7-month supply in February. The available inventory for ALL homes increased from a 6.3-month supply the previous month to a 7.2-month supply in February, the largest inventory reported in fourteen months. Pundits advise that a 6-month supply is a neutral market, so we are still looking at a seller’s market for REOs and a buyer’s market for the general inventory of homes.
The average cost-per-square-foot for REO homes was $ 130 in February, up from $ 128 the previous month. The average cost-per-square-foot for all homes sold in El Dorado Hills in February dropped to $ 149, down from $ 152 the previous month.
The overall sales price for REO homes was 97.9 % of the final asking price, within the normal range. In addition, 41.7% of the buyers paid more than the final asking price for their REO homes in February.
REO buyers paid 87.3% of the cost-per-square-foot for their when compared with the cost-per-square-foot for all homes sold in February. This savings is larger than normal. When applied to a 2500 square foot home that represents a savings of $ 47,500, a considerable sum. Most buyers would consider that sufficient to accept the fact that REO buyers must relinquish some of the rights the have when buying a home in a normal sale.
If you have any questions about purchasing a El Dorado Hills REO, or an REO anywhere in the area, feel free to give us a call (916) 337-0658.