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 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 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:
EL DORADO HILLS, CA HOME SALES DATA – OCTOBER 2012
EL DORADO HILLS, CA HOME SALES DATA – OCTOBER 2012
The purpose of this post is to provide data to those interested in the El Dorado Hills, CA housing market. This report covers October 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. Note the upward trend. The June number of $ 167 was a high for the year by a large margin until the October figure was published. The fact that the October 2012 number is $ 27 higher that it was in October of 2011 should not go unnoticed.
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 Area box part way down on the left side of the page and then scroll down and click 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%, there is no longer a reason to wait—if they can find a home to buy.
The second chart shows the level of inventory, (the number of homes for sale, divided by the number of homes sold each month). The October inventory was at a 2.3-month supply, up from the 2.0-month supply in September. It looks like reluctant sellers are entering the market in larger numbers as prices increase.
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.
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.
EL DORADO HILLS, CA HOME SALES DATA – OCTOBER 2012
BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – OCTOBER 2012
BANK OWNED (FORECLOSURE/REO) HOME SALES DATA FOR El Dorado Hills, CA – OCTOBER 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 October 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 was only ONE foreclosure home sold in El Dorado Hills in October, the first time in our five-year study that this has happened. Since our sample is so small, any statistical analysis will be of little value.
Photo of a foreclosure home for sale
The subject home was on the market for 60 days. That is longer than most foreclosure homes are usually on the market unless there are condition issues. We also note that the buyer paid 101.8% of the final asking price.
The one foreclosure home that sold represents only 1.7% 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 increased to a 4.0-month supply in October. The inventory level was at a 0.5-month supply level in September. However, we determine inventory level with a formula that includes the number of homes sold that month. We have four homes available and only one sold in October, so we have a four-month supply. We submit that this is not statistically significant. This inventory level has only been above a two-month supply one month in the past fifteen.
The inventory for ALL homes available in El Dorado Hills increased to a 2.3-month supply in October. We had a 2.0-month supply in September. 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 cost-per-square-foot for this foreclosure home was $138, up six dollars from the September average. The average cost-per-square-foot for ALL homes sold in El Dorado Hills in October jumped up to $173, the second highest figure in the past fifteen months.
The sales price for this foreclosure home was 101.8% of the final asking price and 96.3% of the original asking price.
When based on the cost-per-square-foot for ALL homes sold, this foreclosure homebuyer paid $ 35 less per square foot. When applied to the purchase of a 2,500 square foot home, that represents a savings of $ 87.500: a tidy sum.
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 – OCTOBER 2012 see the chart below.
The data follows:
El Dorado Hills Ca Foreclosure home sales data chart