El Dorado Hills Real Estate Market Update: May 2010
Since we last looked at the El Dorado Hills real estate market in March, prices have dipped a little again. The price dip probably accounts for the increased unit volume of sales. 60 homes sold in the area, an overall year over year increase in real estate sales of 7.1%. Foreclosure sales dipped 31.6% for the same period whereas short sales increased by 33.3%. Non-distressed sales also gained ground by 25% for the same period. 58.3% of all homes sold are now non-distressed as compared with 50% last May.
Average sold price per square foot has risen 1.9% year over year from $158.65 to rest at $161.60 currently. On average however, homebuyers bought smaller houses - 6.2% smaller than last May, to be precise. Average sales price is currently at $506,593 which is a small-ish drop of 4.5% year over year from a high of $530,385. Median sales price now rests at $438,875, also a decline of 5.6% year over year.
Inventory in El Dorado Hills has remained steadily at 6.9 months.
