El Dorado Hills Real Estate Market Update: March 2009
The El Dorado Hills real estate market does seem to be trying to make a recovery. The prices hover around the half million mark and then dip for one lucky home buyer month to then rise again. A total of 35 homes sold in El Dorado Hills this month - that’s an increase in unit volume by 16.7% year over year. And the number of homes sold look much better than last month’s 26 as well!
19 foreclosures sold this month (an increase year over year of 90%), 4 short sales closed escrow (an increase year over year by 33.3%) and 12 non-distressed homes also sold (a drop for the same period of 29.4%). Approximately two-thirds of all properties sold are now distress sales.
Average price per square foot has fallen 8.6% year over year from $188.79 to $172.48 this month. Home buyers have also afforded themselves homes on average 18.3% bigger than they did last year at the same time. The average sales price is now $584,737 which is 8.1% higher year over year than $540,985. The median sales price is currently $486,600.
Inventory is at 7.9 months based on the last year of sales and 9.5 months based on the last six months of sales. Foreclosure inventory is at 1.7 months and 1.8 months respectively.
