El Dorado Hills Real Estate Market Update: January 2009
Even after seeing the average sales price rise above the half million dollar mark, home buyers still flocked to real estate in El Dorado Hills. And the bargain hunters probably found what they were looking for, since homes sold in January in the area are on average about 7.4% bigger than they were last year.
Unit sales volume is marginally up by 7.1% year over year. Of the 30 homes that sold in January, 15 were distressed (10 foreclosures and 5 short sales) and 15 were non-distressed, a nice balance there. Short sales should be watched - they were 500% higher, considering last January only saw one short sale close escrow.
Sold price per square foot has fallen yet again by 18.5% from $205.36. It currently rests at $167.31. Average sales price has also fallen 12.5% year over year from $612,584 last January to $536,140 this January. Median sales price for the same period shows a decline of 12.4% from a high of $515,000. It currently rests at $451,000.
Inventory in El Dorado Hills is at 7.3 months based on the last year of sales and 7.1 months based on the last six months of sales.
