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.

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.

After a prolific January, sales of real estate in El Dorado Hills hit a speed bump in February. A mere 26 homes sold this month, as compared with 29 last year at the same time. 14 foreclosures sold along with 4 short sales and 8 non-distressed homes. Foreclosure sales are up year over year by 100% short sales and non-distressed sales are down 20% and 53% respectively year over year. Total unit volume is down 10% for the same period.

Price data also suggests a general downward trend for February. Sold price per square foot fell 22% year over year. It is currently at $165.71 from a high of $212.83. Average sales price is down 25% from $602,290 to 453,294 year over year. Median sales price is also down 13% for the same period. It is currently at $417,500 from last year’s high of $480,000.

Inventory is at 7.6 months based on the last year of sales and 7.9 months based on the last six months of sales, showing the general slowing of the El Dorado Hills real estate market over the last few months.

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.

Real estate in El Dorado Hills doesn’t stay under the half million mark for too long. We saw a little blip there last month, but this time it’s back up. The rest of the numbers are looking pretty good too in spite of the foreclosures and short sales that loom over the horizon threateningly.

Sold price per square foot is actually higher than it was last month by a couple of dollars. It is still a drop of 16.7% year over year: from $211.55 last December to $176.24 this December. The average sales price is down 11% for the same period. The average home which used to be worth $624,749 can now only command a sales price of $554,906. But here we see how quickly prices can change. Last month, the average sales price was $498,025. Something to remember when the market does begin to turn. Median sales price is also up over last month’s $460,000. It is currently $500,000, a drop of 10% year over year from the high of $555,000.

We currently have in El dorado Hills 7.4 months and 6.9 months of inventory based on the last 12 months and 6 months of sales respectively. We do see unit volume slowing however, perhaps in keeping with the increase in prices. Foreclosure sales have fallen 58% year over year. Only 8 foreclosures sold this month, along with 6 short sales and 15 non-distressed homes. Total sales are down 25.6% year over year, but the balance between non-distressed and distress sales remains unharmed.

Average sales price is El Dorado Hills has fallen under the half million mark for the first time this year! And what we saw of the influx of buyers in October might be just the tip of the iceberg if prices continue their drop. November saw slightly fewer home buyers, but that seems to be the historical curve for this time of year. And from the news and real estate statistics posted here and elsewhere we can tell that the drop in home sales is not as severe as we had thought it would be for this time of year.

In El Dorado Hills, sales were up by 36.4% with foreclosures and short sales making up the bulk of home sales. 44.4% of all sales were non-distressed. 20 foreclosures sold in the month of November, which might not seem like a large number until you compare it with a mere 4 foreclosures which sold last November.

Price per square foot has tumbled 20.4% over last November to rest at $172.74. Average sale price is down to $498,025. That’s a drop of 24.2% over last November’s $665,917. Median price has also dropped by 26% from $620,000 to $460,000 for the same period.

Based on the last year of sales, inventory is at 7.4 months and based on the last 6 months of sales, inventory is at 6.4 months.

Home sales have almost doubled in El Dorado Hills over last October. There must be something drawing these buyers! I know, I know! It’s the prices. Sold price per square foot has fallen 17.5% over last October – from $223.83 to today’s $184.60. And that brings the average sales price for a home in El Dorado Hills to $570,388 – not a bargain by a long shot, unless you take into consideration the fact that last October, the same home would have sold for $673,656. Gasp! That’s a 15.3% drop in prices.

So what’s driving the fallen prices? The foreclosures, of course. While non-distressed homes still make up the majority of home sales in this area, foreclosures have quintupled since last October. We even saw six short sales close escrow this October, making distress sales about 36% of all sales in El Dorado Hills. Surprisingly, non-distressed sales also saw an increase over last October by about 28.1%.

The median price also recorded a drop over last October, from $587,000 to $520,000. That’s a gap of 11.4%. Based on 12 months of prior sales, inventory in El Dorado Hills is at 7.9 months and based on 6 months of prior sales inventory is at 6.4 months. Foreclosure inventory however is at 2.6 and 2.2 months respectively. Potential home buyers in El Dorado Hills, this is something to think about!